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Venture Capital
firstminute.capital

Investments

117

Portfolio Exits

6

Funds

2

Service Providers

1

About Firstminute Capital

Firstminute Capital is a seed-stage VC firm investing in rounds valuing companies at less than $10m, providing more than 18 months of runway.

Headquarters Location

Northcliffee House Young Street

London, England, W8 5EH,

United Kingdom

+44 (0)20 3905 5854

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Latest Firstminute Capital News

Don’t fear an AI bubble – investor optimism is roaring back, says Hoberman

Jun 1, 2023

Serial entrepreneur and Lastminute.com founder Brent Hoberman says a surge in AI interest shows confidence is returning A ballooning artificial intelligence (AI) bubble could be a “healthy” sign for the market and shows investor optimism is roaring back, according to one of Britain’s most prolific entrepreneurs. In an interview with City A.M., Lastminute.com and Firstminute Capital founder Brent Hoberman said the rapid surge in AI valuations shows investors are willing to punt on the market once again in the hope of landing on “one of those fabled 100x investments”. “I think that often you do get these bubbles and you can actually say that bubbles are healthy,” Hoberman told City A.M. “I would say that bubbles indicate an era of optimism from investors, when people are prepared to really look longer into the future.” Generative AI funding rounds were among the few “hot deals” at the moment as VC investment remains subdued after a turbulent 12 months, Hoberman said. Investors have reined in splashy bets in the past year after soaring inflation and rising interest rates rocked the market and turned off the taps of cheap cash. The slowdown continued in the first quarter of this year, with a total of £2.9bn invested into UK firms in the opening three months of the year, the lowest amount of cash raised in the opening quarter of a year since 2020, according to data from big four firm KPMG. Firstminute Capital was “definitely slower in terms of allocating capital” but was “still doing deals”, Hoberman said. The uptick in private market AI deals follows a scramble from investors to back AI-related stocks on the public markets, which has pushed valuations to record highs over the past few weeks. Nvidia , one of the world’s top producers of AI hardware and software, rocketed in value in the past week and briefly became the fifth firm to pass the $1 trillion valuation landmark. However, the scramble from investors on both the public and private markets has triggered warnings from some analysts. Read more

Firstminute Capital Investments

117 Investments

Firstminute Capital has made 117 investments. Their latest investment was in Fork & Goode as part of their Series B on March 3, 2023.

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Firstminute Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/19/2023

Series B

Fork & Goode

$22M

Yes

2

3/14/2023

Seed VC

RightHub

$15M

Yes

Anker Capital, Conviction Capital, Firstminute Capital, and Undisclosed Angel Investors

2

2/23/2023

Seed VC

Oka

$7M

Yes

2

12/5/2022

Seed VC

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$99M

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10

11/15/2022

Series A

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$99M

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10

Date

3/19/2023

3/14/2023

2/23/2023

12/5/2022

11/15/2022

Round

Series B

Seed VC

Seed VC

Seed VC

Series A

Company

Fork & Goode

RightHub

Oka

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Amount

$22M

$15M

$7M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Anker Capital, Conviction Capital, Firstminute Capital, and Undisclosed Angel Investors

Sources

2

2

2

10

10

Firstminute Capital Portfolio Exits

6 Portfolio Exits

Firstminute Capital has 6 portfolio exits. Their latest portfolio exit was Futrli on May 13, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/13/2022

Acquired

$99M

2

3/23/2022

Acquired

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$99M

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10

3/1/2022

Acquired

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$99M

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10

8/24/2021

Acquired

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$99M

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10

4/30/2021

Acquired

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$99M

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10

Date

5/13/2022

3/23/2022

3/1/2022

8/24/2021

4/30/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

Firstminute Capital Fund History

2 Fund Histories

Firstminute Capital has 2 funds, including Firstminute Capital II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/8/2020

Firstminute Capital II

$111M

3

6/11/2018

Firstminute Capital I

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$99M

10

Closing Date

9/8/2020

6/11/2018

Fund

Firstminute Capital II

Firstminute Capital I

Fund Type

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Status

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Amount

$111M

$99M

Sources

3

10

Firstminute Capital Service Providers

1 Service Provider

Firstminute Capital has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Firstminute Capital Team

2 Team Members

Firstminute Capital has 2 team members, including current Founder, General Partner, Spencer Crawley.

Name

Work History

Title

Status

Spencer Crawley

AppDirect, DMC Partners, and Goldman Sachs

Founder, General Partner

Current

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Name

Spencer Crawley

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Work History

AppDirect, DMC Partners, and Goldman Sachs

Title

Founder, General Partner

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Status

Current

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