First Drop

First Drop focuses on pre-seed and early-stage rounds, with initial investments ranging from €100,000 to €300,000. The firm will also follow on in later rounds, with stated capacity to deploy more than €1 million per company. This structure is designed to act as a catalytic first institutional check while maintaining reserves for subsequent rounds.

The firm does not publicly disclose a specific sourcing channel, but its website emphasizes the power of its advisory and limited-partner network, described as including prominent startup operators and corporate leaders. The team's own startup backgrounds play a central sourcing role, with the firm positioning itself as a founder-centric vehicle that connects portfolio companies to the real economy. Geographically, the focus spans Spain and Latin America, suggesting deal flow comes through regional founder and investor networks.

First Drop does not maintain a public exclusion list. Its mandate is focused positively on startups with social and environmental impact, technology agnosticism, and scalable hardware or software. The firm's marketing materials signal a primary concentration in clean energy and renewables, but they do not state specific sectors they will not consider. The binding constraint is impact alignment rather than sector avoidance.

First Drop operates as a hybrid. It is a venture capital firm providing equity capital, but it also designs a tailored support program for each company intended to accelerate strategic growth areas. The firm's own narrative states it brings a startup mentality to venture capital, providing hands-on operational support in addition to investment. This goes beyond typical board-level venture involvement and positions First Drop closer to an accelerator model.

First Drop has not publicly disclosed a formal co-investment policy. Its deal sizes and early-stage focus suggest it leads or participates in small syndicates, but the firm's website does not outline specific preferences for leading rounds, club deals, or partnering with other funds. No external data confirms a pattern of co-investing with named GPs.