Announcing Our Newest Fund
We are excited to announce the closing of our newest fund, FirstMark Capital III. The fund is the same size as our last fund ($225 million), a deliberate choice to continue our focused mission of partnering with great entrepreneurs at the earliest stages of changing the world.
In the five short years of building FirstMark, it has been humbling to see the rapid growth and impact of many of our portfolio companies. It is a testament to the disruptive times we live in and the formidable determination of our entrepreneurs. And yet, these companies also share common beginnings. A few people banding together and taking a leap into the unknown. A heightened sense of excitement pushing “final” alpha code to the world, only to discover the world wants to do something else with it. A nerve-racking decision to pass on a major partnership to stay focused on the mission. A lucky bounce that unexpectedly changes the trajectory of a company. A replenished sense of vitality as clarity of direction slowly emerges. These are the moments we cherish being a part of and we are incredibly thankful to our entrepreneurs for allowing us to be a part of their journey.
In return, we have worked tirelessly to rethink the traditional “single partner” model of venture and focus on the collective. One of our founding principles was to build a close-knit community, where our entrepreneurs felt like they belonged to a collaborative family. We did not want that sense of belonging to exist at the CEO level alone, but as importantly throughout the portfolio. The most powerful insights are often times housed in the teams executing day to day. As a result, we invest heavily to connect employees throughout the portfolio with world-class expertise and a trusted environment of sharing and learning. With over 40 events a year and a proprietary community infrastructure to match, we are just at the beginning of a long roadmap to help make our entrepreneurs and their teams better, smarter, faster, and more engaged.
While we are ultimately judged by the returns we generate, we believe the true core of our mission is serving entrepreneurs. It is the thing we care most deeply about and work hard every day to accomplish. And we could not be more excited to meet the newest group that will join our family in FirstMark III!