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First Analysis
First Analysis is an SEC-registered investment adviser in Chicago, IL, registered since 2012. The firm manages approximately $186 million in regulatory assets.
First Analysis
First Analysis is an SEC-registered investment adviser in Chicago, IL, registered since 2012. The firm manages approximately $186 million in regulatory assets. It has 25 employees and 9 investment advisers.
General information
Firm type
Generalist
Year founded
1981
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Sector focus
Frequently asked questions
What size checks does First Analysis write, and at what stage?
The firm targets initial venture investments of $3 million to $10 million in B2B technology companies that have reached $1 million to $10 million in annual recurring revenue. First Analysis describes its venture strategy as concentrated, making only a small number of new platform commitments each year in order to maintain deep board-level involvement. It acts as a lead or co-lead investor and participates in follow-on rounds.
What kind of advisory mandates does First Analysis Securities handle?
First Analysis Securities focuses on growth-stage technology companies raising $20 million to $100 million in growth capital and on M&A transactions — including strategic exits, majority recapitalizations, and minority recapitalizations that combine primary growth capital with partial secondary liquidity for founders. The firm explicitly avoids prospecting private equity portfolio companies, concentrating on founder-led businesses.
Which sectors does First Analysis target?
The firm invests across B2B technology, with a published focus on cybersecurity, enterprise productivity and the future of work, healthcare IT, IoT and infrastructure tech, supply chain, vertical SaaS, e-commerce optimization, pharma IT, and learning technology. Its research team publishes sector-level reports that inform both the venture and advisory sides of the business.
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