# First Drop

First Drop is a Private Equity based in Valencia, Spain.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Valencia, Spain
- **Region:** Europe
- **Address:** Valencia, Spain
- **Founded:** 2020
- **Assets under management:** Undisclosed
- **Website:** firstdropvc.com
- **LinkedIn:** https://www.linkedin.com/company/firstdropventures

## Regulatory record

- **Reports private funds:** No

## About

First Drop is an investment fund focused on strategic investments in startups that address social and environmental challenges. It invests at early and pre-seed stages and supports portfolio companies beyond capital through a personalized support program. The firm seeks exceptional teams solving challenges in large markets with both impact and financial returns in their DNA.

## Sectors

- Energy Transition & Renewables
- ClimateTech

## People

- Manuel Nieto — Co-Founder & Managing Partner
- Alejandro Valero — Co-Founder & General Partner
- Orfeo Balboa — Partner & Investment Manager
- Irene González — Investment Analyst

## Questions

### What investment stages does First Drop target?

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.

### Which sectors does First Drop explicitly avoid?

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.

### Is First Drop structured as a venture firm or does it operate more like an accelerator?

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.

## Related profiles

- [First Close Partners](https://altss.com/profile/first-close-partners)
- [First Entrepreneurs Fund](https://altss.com/profile/first-entrepreneurs-fund)

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Last updated: 2026-08-11T15:06:42.396Z

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