First Analysis
Venture capitalChicago · Series A–Late Stage · 23 people tracked
Investment thesis
First Analysis invests selectively in sectors where deep proprietary research provides differentiated insight, focusing on B2B technology companies with growth potential. The firm combines venture capital investing with transaction advisory services to create compounding value, using insights from investments to inform advisory work and market intelligence to shape capital strategy. The approach emphasizes board involvement, stakeholder alignment, and positioning for favorable exits.
Source: firm website, verified Jul 21, 2026.
Team · 23 people
from the firm's websiteFounder and chairman of First Analysis. Previously served as chief operating officer, director of research, and investment analyst at William Blair & Co. Also founded the First Analysis Institute of Integrative Studies, an educational nonprofit.
Managing director with 20+ years as a healthcare entrepreneur and executive, focused on healthcare software businesses. Previously senior leadership team member at Ciox Health and held roles at UnitedHealth Group, Optum, and Davita.
Managing director and managing partner with 20+ years at the firm, leading investments in future-of-work, supply chain, and learning technology. Thought leader whose research has been recognized by Wall Street Journal, Forbes, and Financial Times.
Managing director and research director with 30+ years at the firm, collaborating with sector experts to develop research on emerging high-growth opportunities in technology and healthcare.
Managing director and managing partner with 30+ years at the firm, leading investments in cybersecurity, internet infrastructure, and Internet of Things. Built historical franchises in call centers and computer telephony.
Managing director with 20+ years of experience focused on SaaS businesses. Publishes widely read quarterly insights and is recognized for thought leadership cited by Wall Street Journal and Forbes.
Managing director with 20+ years in finance and investment focused on healthcare technology. Played a key role building the firm's franchises in drug development and medical technology, and published thought-leading white papers.
Managing director and steers the firm's strategic vision, focusing on B2B tech-driven businesses. Leads investment banking efforts and brings 10 years of technology and healthcare corporate finance experience from William Blair & Co.
Managing director focused on human capital management and financial technology software investments. Brings 20+ years of investment and advisory experience from roles at Robert W. Baird & Co. and William Blair & Co., and has completed over 100 M&A and capital markets transactions totaling $15 billion.
Managing director with 20+ years at the firm specializing in businesses leveraging chemical and medical technologies. Authored thought-leading research papers and holds a doctorate in chemical engineering.
Vice president specializing in research and investment in information technology sectors, and coordinating the firm's communications infrastructure. Joined in 1997 after owning a computer consulting business.
Vice president leading marketing for venture capital activities and industry research. Joined in 1992 and brings institutional investment experience from Cowen & Co. and other firms. Holds the CFA charter.
Senior vice president specializing in corporate finance for chemistry-enabled sectors. Brings 16+ years of engineering and management consulting experience from roles in San Francisco and Vancouver.
Vice president who joined First Analysis in 2020. Previously participated in Macy's executive development program managing financial modeling for a $3 billion asset-based loan and corporate forecasting.
Marketing and communications manager responsible for publishing, graphic design, PR, and event planning. Joined in 2010 from renewable energy startup Solargenix Energy.
Adviser supporting business development efforts. Joined in 2024 after co-founding Hunt Club, an executive search firm, and serving as partner at New Coast Ventures, a venture studio for early-stage technology companies.
Staff accountant who joined First Analysis in 2024 from Ernst & Young's assurance staff.
Associate who joined First Analysis in 2021. Previously worked at Prairie Capital Advisors developing and reviewing financial models and preparing valuation reports.
Analyst who joined First Analysis in 2023 after completing an internship. Previously interned at Stifel Financial Corp. supporting the energy and natural resources group.
Chief financial officer for First Analysis venture capital funds, overseeing fund accounting, reporting, and limited partner communications. Joined in 2022 from RSM US LLP where he was a senior tax manager specializing in private equity fund formation and liquidation.
Analyst who joined First Analysis in 2024. Previously interned at Bridges Trust conducting equity research and supporting fund manager due diligence, and at Spreetail building financial models for their e-commerce division.
Treasurer specializing in financial administration. Joined in 2005 after two years as an intern in the firm's accounting department.
Associate who joined First Analysis in 2021 after completing an internship. Previously interned at Wintrust Financial in the commercial banking division.
What they invest in
from 2 of 19 portfolio companiesAI & Machine Learning ×2SaaS ×2HR Tech ×1Retail Tech ×1
Investments · 19 tracked
founders shown can be your intro pathLeading CRO/CDMO specializing in cell and gene therapy with proprietary TARGATT genome editing and iPSC platform
CoolrAI is an AI-powered SaaS platform that analyzes cooler and freezer images to provide commercial intelligence for Food & Beverage brands and distributors. The platform combines image-based visibility with analytics and field execution tools to improve product availability, reduce inefficient visits, and increase sales across global retail networks.
AI & Machine LearningRetail TechSaaS
California-based developer of mortgage technology including advanced product, pricing, and eligibility engine, digital lending point of sale, and non-agency automated underwriting engine
Leader in Suricata-based network security solutions providing intrusion detection, network security monitoring, and network detection and response systems
Simplifies candidate sourcing and outreach through crowdsourcing and advanced AI to help recruiters build diverse candidate pipelines
Innovative marketing and sales engagement platform for the mortgage industry helping lenders close more loans through better borrower engagement
Yello is a campus recruiting platform that combines planning, sourcing, and event management with an AI agent to automate administrative tasks. It serves enterprise and high-growth companies seeking to hire early talent and college students across all industries.
AI & Machine LearningHR TechSaaS
Frequently asked questions
- What stage does First Analysis invest at?
- First Analysis invests at the Series A, Series B, Growth, Late Stage stages.
- What sectors does First Analysis focus on?
- First Analysis focuses on Cybersecurity, Enterprise Software, Future of Work, Healthtech, IoT, Medical Devices, SaaS.
- Where is First Analysis located?
- First Analysis is headquartered in Chicago, US.
- Does First Analysis lead rounds?
- Yes, First Analysis leads investment rounds.
Images
Similar investors
A globally recognized venture capital firm designed to provide access to highly competitive venture deals to individual investors, consistently recognized for top-decile DPI performance and as one of the most active US venture firms.
DCVC is a deep tech venture capital firm with over a dozen years of experience backing entrepreneurs using computational approaches to solve trillion-dollar problems across industries including AI, climate, materials science, robotics, space, and biology.
GV is Alphabet's venture capital arm, established in 2009 as Google Ventures. Operating with long time horizons and over $13 billion in assets under management, the firm invests across technology and life sciences sectors from seed to growth stages, supporting 400 active portfolio companies across North America, Europe, and Israel.
Invest Tech is a fund manager specializing in private equity and venture capital investments in Brazil, focusing on technology-driven companies across all stages. The firm targets B2B companies that contribute to economic digitalization, with particular expertise in IT, telecommunications, and related sectors.
B Capital is a venture capital firm managing over $12 billion in assets with a stage-based fund approach. The firm invests across early to late-stage companies in technology, healthcare, and energy & resilience sectors, with 200+ portfolio companies and 9 global offices.