Venture capital

First Round Capital raising $220 million for new fund

First Round Capital's Josh Kopelman.
First Round Capital's Josh Kopelman. Photo by Noam Galai/Getty Images.

First Round Capital is raising around $220 million for its seventh venture capital fund, according to SEC filings.

  • No changes to the partnership since First Round raised $175 million for its sixth fund two years ago, save for the previously-announced addition of BirchBox co-founder Hayley Barna.

Why it matters: The bi-costal firm wrote the earliest checks for such companies as Uber and Ring.

Sources: Allbirds is profitable

Allbirds

Hipster sneaker maker Allbirds last week announced $50 million in new funding led by T. Rowe Price, at a unicorn valuation. Axios has learned a bit more, per multiple sources:

  • The $50 million is primary capital, but the round also included an undisclosed amount of secondary funding — pushing the overall haul into nine-digit territory.
  • The San Francisco-based company was profitable in both 2016 and 2017. Revenue jumped from $16 million in 2016 to around $80 million in 2017, with around $150 million estimated for this year.