First Analysis

VC firm · Chicago, IL

SEC-registered adviser

Venture firm based in Chicago, IL. Most recent fund on file: First Analysis Fund XIV-A, L.P. ($100M offering), filed Aug 2023. 1 deal vehicle (SPVs) filed with the SEC since Aug 2023. Partners sit on the boards of 6 startups that raised recently.

“First Analysis leverages 40+ years of expertise to partner with growth-focused B2B tech companies, offering deep research, venture capital and advisory services.” (from the firm’s website)

Stages: Seed, Series A
Typical check (est.): $1M–$10M
Latest fund: $100M · Aug 2023
Last verified activity: Jul 2025

Focus

B2B SoftwareDeep Tech

Recent portfolio activity

Recsolu
Board seat · IL
Jul 2025
Focus IP
Board seat · ID
Dec 2023
Sware
Board seat · MA
Nov 2023
Stamus Networks
Board seat · IN
Aug 2023
Cayman
SPV
Aug 2023
EdgeIQ
Board seat · MA
Jun 2023
Cycle Labs
Board seat · NC
Mar 2023

Funds and vehicles on SEC file

First Analysis Fund XIV-A, L.P.
Fund · $100M offering
Aug 2023
First Analysis Fund XIV (Cayman), L.P.
Deal vehicle · $100M offering
Aug 2023
First Analysis Fund XIV, L.P.
Fund · $100M offering
Jul 2023

Sources

SEC Form D: First Analysis Fund XIV-A, L.P.Aug 11, 2023
SEC Form D: First Analysis Fund XIV (Cayman), L.P.Aug 3, 2023
SEC Form D: First Analysis Fund XIV, L.P.Jul 26, 2023
SEC adviser record: First Analysis Capital Management LLCMay 10, 2026
Firm websiteOct 12, 2026

Profile last verified Oct 12, 2026. Is this you? Correct or remove this profile.