This money will be split between two separate funds, with $275 million going into FirstMark IV (an early stage fund), and $205 million headed to the Opportunity Fund (for later stage companies and follow-on deals for existing investments).
This is FirstMark’s fourth early-stage fund and second opportunity fund. The firm was founded in 2008 and has $1.5 billion under management.
Since launch, FirstMark has backed around 100 companies, with nearly half of their investments going to New York City-based startups.
The firm funds a wide range of categories in the tech sector, including social (Pinterest), AI (x.ai and HyperScience), healthcare (Recombine, Gravie), IoT (Helium, Kinsa), music startups (ROLI), gaming (Riot Games), enterprise (InVision), ecommerce (Shopify), edtech (Schoology), adtech (Tapad), video (Tubular), and more.
FirstMark is led by Amish Jani (co-founder and managing director), Rick Heitzmann (co-founder and managing director), and Matt Turck (managing director).