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First Avenue Ventures
Howard Morgan's First Avenue Ventures wrote an early check into MongoDB and shaped the New York venture ecosystem through decades of seed-stage investing.
First Avenue Ventures
First Avenue Ventures operates as the personal venture investment vehicle of Howard L. Morgan, a figure whose influence on early-stage technology investing spans multiple decades. Morgan co-founded First Round Capital alongside Josh Kopelman in 2004, and First Avenue Ventures represents his individual investment activity outside that institutional structure. His track record reaches back to the 1980s and 1990s as an angel investor in companies including Meta (as Facebook) and Idea Lab. The firm concentrates on seed-stage and pre-seed enterprise software, artificial intelligence, and financial technology companies, primarily based in New York, Philadelphia, and the broader Northeast corridor. Morgan's reputation as a leading figure in the early New York venture scene was cemented, in significant part, by his early investment in MongoDB Inc. He served on MongoDB's board from its earliest days through its 2017 initial public offering. Key portfolio relationships have spanned developer tools, enterprise infrastructure, and applied artificial intelligence. Morgan holds a Ph.D. in operations research from Cornell University, and his professional trajectory includes a professorship at the Wharton School and a subsequent deanship at the University of Pennsylvania's engineering school. He has maintained an active board presence across the venture industry, serving on the boards of public and private technology companies. In addition to his investing, Morgan has contributed to the institutionalization of the New York venture market as a board member of the New York City Investment Fund and a longtime participant in regional technology policy discussions. First Avenue Ventures differs from many institutional seed funds in its structure as a personal investment vehicle, which brings the full weight of Morgan's decades-long network and multidisciplinary academic background to a concentrated number of early-stage deals. Morgan maintains affiliations with multiple venture firms, including a co-founder relationship at First Round Capital and a role as a venture partner at B Capital Group, positioning First Avenue Ventures as one node in an unusually interconnected web of institutional investment relationships rather than a standalone fund.
General information
Firm type
Venture Capital
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Howard L. Morgan
Co-Founder
Sector focus
Frequently asked questions
Who is behind First Avenue Ventures?
Howard L. Morgan, a computer-science academic turned venture investor, directs the firm. Morgan co-founded First Round Capital in 2004 alongside Josh Kopelman, taught at the Wharton School, and served as a dean at the University of Pennsylvania's engineering school. His angel investing dates to the 1980s with early bets on companies including Meta (as Facebook).
What is First Avenue Ventures' relationship to First Round Capital?
First Avenue Ventures is Howard Morgan's personal investment vehicle and is legally separate from First Round Capital, the institutional seed fund he co-founded with Josh Kopelman in 2004. Morgan continues to hold an emeritus role at First Round Capital, but the two entities make investments independently and maintain distinct portfolio strategies.
What type of company does First Avenue Ventures invest in?
The firm concentrates on seed-stage and pre-seed technology companies in enterprise software, artificial intelligence, and financial technology. Morgan has consistently backed technical founders building infrastructure software, developer tools, and applied AI platforms. His most prominent early investment, MongoDB, fits this pattern of database and enterprise-infrastructure deals.
Does First Avenue Ventures raise outside capital or operate as a family office?
The firm functions as a personal venture investment vehicle. It does not publicly raise institutional limited partner commitments the way a traditional venture fund does. Its deployment capacity is tied to Howard Morgan's personal capital and his broader co-investment network.
What is Howard Morgan's actual track record beyond MongoDB?
Morgan's angel portfolio includes an early investment in Meta (then Facebook) and Idea Lab, a technology incubator. His board service has included MongoDB from its seed stage through its 2017 IPO, and he currently serves as a venture partner at B Capital Group. He also sat on the board of the New York City Investment Fund, where he helped shape regional technology development policy.
How does First Avenue Ventures source its deals?
Morgan's sourcing network combines his academic ties at the University of Pennsylvania and Cornell, his co-founder relationships at First Round Capital, and his venture-partner role at B Capital Group. This multi-institutional reach gives First Avenue Ventures access to deals across the Northeast corridor and, selectively, the broader US enterprise software market.
Is First Avenue Ventures currently active and making new investments?
Yes, the firm remains active in early-stage venture investing. Morgan's ongoing role as a venture partner at B Capital Group and his continued board and advisory engagements in the technology sector suggest First Avenue Ventures maintains a current pipeline of seed-stage investments, though the firm does not publicly disclose its pace of deployment or individual new positions.
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