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Firstminute Capital
Firstminute Capital is a $500m London seed fund backed by 130+ unicorn founders, writing first cheques into European AI and software founders.
Firstminute Capital
Firstminute Capital was founded in 2017 by serial entrepreneur Brent Hoberman (Lastminute.com) and Spencer Crawley (DMC Partners). The firm launched with a novel LP base: its own portfolio founders and other European unicorn builders, who now number over 130 individuals, supply capital, deal flow, and operator expertise. This structure makes Firstminute a community of founders backing founders, rather than a conventional institutional seed fund. The firm operates as a generalist pre-seed and seed investor, writing tickets of £1m to £3m with the aim of being the first institutional cheque. Asset-class exposure is entirely venture equity. The team targets software and AI companies with global ambitions, spanning vertical AI applications, deep tech, FinTech, digital health, climate, cyber, enterprise SaaS, and Web3. Confirmed portfolio positions include autonomous-driving company Wayve, Paris-based AI lab Mistral, headless CMS Storyblok, workflow-automation platform n8n, risk-decisioning startup Taktile, and code-generation company Tessl. While the mandate centres on Europe and the UK, Firstminute will back exceptional founders in the US and beyond. The investment team comprises 14 professionals across the UK and Europe, led by six partners including Hoberman, Crawley, Lina Wenner, Adriana Vitagliano, Lorcan Delaney, and Michael Stothard. The firm has deployed $500m into more than 170 portfolio companies. Co-Founder Brent Hoberman also chairs Founders Forum, a private network of technology entrepreneurs, which gives Firstminute portfolio companies access to a broader community for hiring, customer introductions, and Series A fund-raising. In 2024, the firm continued to lead seed rounds in European AI-native startups, reinforcing its position as an inception-stage backer. The structural differentiator is the unicorn-founder LP base. Unlike most seed funds that raise from endowments and fund-of-funds, Firstminute’s capital comes from operators who have built and exited billion-dollar technology companies. This alignment means the selling proposition to a founder is not just a cheque, but immediate access to a proprietary network of peers who can hire, sell, and syndicate on their behalf — a model that turns the traditional LP-GP relationship into a distributed sourcing and support system.
General information
Firm type
Private Equity
Year founded
2017
AUM
$500m (per the firm)
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Brent Hoberman
Co-Founder & Managing Partner
Spencer Crawley
Co-Founder & Managing Partner
Lina Wenner
Partner
Adriana Vitagliano
Partner
Lorcan Delaney
Partner
Michael Stothard
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Firstminute Capital?
The firm is led by Co-Founders and Managing Partners Brent Hoberman and Spencer Crawley, alongside Partners Lina Wenner, Adriana Vitagliano, Lorcan Delaney, and Michael Stothard. The six partners share responsibility for investment decisions with a generalist, consensus-driven approach.
How does Firstminute Capital source proprietary deal flow?
Firstminute’s primary sourcing edge is its LP base of more than 130 unicorn founders, who actively refer entrepreneurs, act as references, and co-invest. Co-Founder Brent Hoberman’s role as Chairman of Founders Forum extends that network into a private community of European tech leaders. The firm also runs a public-facing brand, 'The Home of Magnetic Ambition', to attract inbound founder applications.
Is Firstminute Capital a multi-family office or a traditional venture capital fund?
It is a traditional venture capital fund in legal structure, but its capital base gives it the characteristics of a hybrid. Rather than institutional limited partners, the fund is predominantly backed by individual unicorn founders who invest their personal capital. This shapes its behavior — it markets to founders as a community of peers, not as a financial institution.
Does Firstminute participate in fund commitments or only direct deals?
Firstminute exclusively makes direct equity investments into operating companies. The firm positions itself as the first institutional cheque into a startup, typically at pre-seed or seed stage. There is no disclosed fund-of-funds, secondary, or LP-commitment activity.
What investment stages does Firstminute typically target?
The firm targets pre-seed and seed stages exclusively. It aims to write the first institutional cheque, typically investing £1m to £3m per round. Firstminute’s mandate does not extend to Series A or later-stage growth rounds, though it supports portfolio companies in raising subsequent financing from Tier 1 venture firms in its network.
How is Firstminute Capital related to Founders Forum?
Firstminute Co-Founder Brent Hoberman chairs Founders Forum, a private network and events business for technology founders and CEOs. The two entities are operationally separate, but there is significant soft overlap: Founders Forum events serve as a community hub that Firstminute portfolio companies can access for business development and fund-raising introductions.
What is Firstminute’s known posture on co-investments alongside external GPs?
Firstminute frequently leads or co-leads seed rounds and is comfortable syndicating with other early-stage managers and angel investors. The firm’s LP base of unicorn founders often co-invests personally alongside the fund. For follow-on capital, Firstminute actively introduces portfolio companies to Tier 1 Series A funds rather than writing the follow-on cheque itself.
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