Likely active: new fund Aug 2023 Verified 5 Nov 2026
First Analysis
Chicago firm that invests in and advises growth focused B2B technology companies, with sector research at the centre of its approach. It has done so for more than 40 years.
- Type
- VC firm
- Location
- Chicago, Illinois, United States
- Backs
- B2B software, Medtech and digital health
- Sectors
- AI, Healthtech and life sciences, Devtools, Cybersecurity, B2B, HR
- Fund size / AUM
- $100M First Analysis Fund XIV (Form D offering, 2023); $186.2M gross private fund assets (Form ADV; private funds: 8, of which venture capital: 5)
- Latest fund or filing
- 11 Aug 2023
- Portfolio mix
- B2B software 65%; Medtech and digital health 16%; Biotech and pharma 13%; Fintech 6% (n=16)
- Website
- www.firstanalysis.com
Contacts on file
For First Analysis, the paid file holds: 8 named decision-makers with roles; check size; LinkedIn page.
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Notable investments
TPN.healthCycle LabsIntelligent LocationsGradient CyberApplied StemCell
Sources
- adviserinfo.sec.gov/firm/summary/161373
- www.firstanalysis.com/
- www.sec.gov/Archives/edgar/data/1974193/000197419323000001/
- www.firstanalysis.com/about-us/
- www.firstanalysis.com/venture-capital/portfolio-companies/
- www.sec.gov/Archives/edgar/data/1988851/000198885123000001/
Last checked 5 Nov 2026. Is something wrong? Tell us.
Appears in 23 lists
Healthtech investors in Illinois (27)AI investors in Chicago (29)SaaS investors in Illinois (34)AI investors in Illinois (35)Venture capital firms in Chicago (72)Venture capital firms in Illinois (87)Future of work venture capital firms in the US (121)Future of work investors (161)Developer tools venture capital firms in the US (184)Developer tools investors (223)Cybersecurity venture capital firms in the US (223)B2B venture capital firms in the US (267)Cybersecurity investors (325)Medtech venture capital firms in the US (356)B2B investors (448)Medtech investors (463)Healthtech venture capital firms in the US (723)SaaS venture capital firms in the US (1,066)AI venture capital firms in the US (1,140)Healthtech investors (1,220)SaaS investors (1,544)AI investors (1,604)Venture capital firms in the US (3,066)