Barna, who is expected to spend a couple of years at the firm while she decides her next moves, will be based in New York and focus largely on e-commerce opportunities.
First Round had led the seed round for Birchbox, a subscription cosmetics company, in 2010. The company has gone on to raise roughly $72 million altogether, according to CrunchBase. Its backers include Accel Partners and Viking Global Investors.
Barna had stepped down from her role of co-CEO some time last year, with the company quietly announcing the decision last August. Her cofounder and co-CEO, Katia Beauchamp, is now CEO.
Barna is among few female investors that First Round has brought into the fold. Christine Herron, a director at Intel Capital, spent a couple of years as a principal with the firm earlier in her career. CeCe Chang formerly spent two years as director of First Round’s Dorm Room Fund and worked as a junior member of its investing team for a year before that.