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First Fund
First Fund is Canada's self-described most-active pre-seed fund, writing $250k checks at the pitch-deck stage to counter founder brain drain.
First Fund
Canada’s most active pre-seed investment fund. | First Fund is Canada's most active pre-seed fund. We help entrepreneurs turn bold ideas into transformative international businesses. We globally invest up to $250,000 as early as the pitch-deck stage while providing talented teams access to a strategic network of resources and support required to scale.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Vancouver
Corporate office
#301 - 134 Abbott Street, Vancouver, BC, Canada
Sector focus
Frequently asked questions
What does First Fund mean by investing in 'Sports Cars' instead of 'Unicorns'?
The firm rejects the 'growth-at-all-costs' model that traditional VC imposes in pursuit of unicorn outcomes. It instead targets companies with strong underlying unit economics that can reach a $20–$100 million exit — vehicles it calls 'Sports Cars' — as a path to sustainable returns without the pressure of achieving venture-scale outcomes.
How does First Fund source its pre-seed deal flow?
Rather than relying entirely on inbound founder applications, First Fund publishes a list of 'Open Challenges' on its website — specific, pre-identified industry problems where the firm has domain expertise and is actively seeking technology-powered solutions. Founders solving these problems receive prioritized application review, giving the firm a structured, thesis-driven sourcing channel.
Does First Fund participate in fund commitments or only direct startup investments?
All available evidence points exclusively to direct pre-seed equity investments. The firm writes checks of up to $250,000 into startups, often at the pitch-deck stage, and makes no mention of participating as a limited partner in other venture funds.
What is First Fund's published stance on founder personal risk and early-stage capital?
First Fund publicly argues that forcing founders to self-fund or use friends-and-family loans creates unnecessary personal risk. The firm was founded specifically to provide institutional capital during the earliest phase — before traction — to eliminate what it calls 'considerable personal risk' and curb the phenomenon of 'Founder Brain Drain' from Canada.
Which sectors does First Fund explicitly avoid?
The firm does not publish a list of excluded sectors. Its open-challenge model implies active sector-specific interests — including franchise technology, 3D design tools, and crowdfunding platforms — but it also states it welcomes pitches from founders solving 'all kinds of problems,' suggesting no formal investment prohibitions.
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