# First Nations Capital Partners

First Nations Capital Partners is a Private Equity based in Woodland Hills, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Woodland Hills, United States
- **Region:** North America
- **Address:** 5850 Canoga Avenue, 4th Floor, Woodland Hills, CA 91367, United States
- **Founded:** 2008
- **Assets under management:** $30 million – $50 million (Altss estimate)
- **Website:** www.firstnationscapitalpartners.com
- **LinkedIn:** https://www.linkedin.com/company/first-nations-capital-partners

## Regulatory record

- **Reports private funds:** No

## About

First Nations Capital Partners, LLC (FNCP) is the first inter-tribally controlled private equity firm in the United States. It is the first and only fund of its kind to bring together two sovereign Indian nations and a prestigious financial institution. FNCP’s mission is to provide strategic resources, including patient capital, for growing, profitable companies in traditional industries in the eleven Western States. FNCP partners with experienced operating management to achieve the highest possible returns without assuming an inordinate amount of risk.

## Sectors

- Industrial Tech
- Manufacturing

## People

- John H. Upshur — Managing Principal

## Questions

### Who runs investment decisions at First Nations Capital Partners?

John H. Upshur, the firm's Managing Principal, leads all investment activity. He is a CPA and MBA who has managed both FNCP I and the FNCP II pledge fund since inception in 2008. Upshur personally sources and negotiates each acquisition and oversees the operating managers installed at portfolio companies post-close.

### How does FNCP source its proprietary deal flow?

The firm targets family- and founder-owned specialty manufacturers in the Western US that have never taken outside institutional capital. Deals are sourced through Upshur's long-developed network of contacts and ongoing market diligence, rather than competitive auctions. The firm describes its target companies as businesses where equity is available for 'good and verifiable reasons,' often involving succession or growth-capital needs.

### What geographies and industries does FNCP focus on?

The firm's stated geographic mandate covers the eleven Western states, and all disclosed portfolio companies are located in California, Washington, and Oregon. Industry focus is traditional manufacturing: plastic card printing, rope and twine production, composite shipping containers, automotive aftermarket parts, and material handling systems for wood processing.

### Does FNCP co-invest alongside external GPs or LPs?

FNCP II operates as a pledge fund, meaning investors who support the platform receive a first look at each transaction and decide individually whether to commit capital. This structure allows tribal sovereigns and institutional LPs to co-invest on the same terms without pooling capital into a blind pool. The firm itself acquires controlling interests directly.

## Related profiles

- [First Move](https://altss.com/profile/first-move)
- [First Pacific](https://altss.com/profile/first-pacific)

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

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