First Round Capital today announced its fifth fund — a $175M round from existing limited partners.
With little surprise, the firm intends to do what it always does with new capital: make seed stage investments in the Valley (and New York).
First Round’s fifth fund is its largest to date, up from $135 million in 2012, $126.4 million in 2010, and 125 million in 2008.
Alongside the funding announcement, First Round’s Josh Kopelman shares that SinglePlatform founder Wiley Cerilli will join the firm as a venture partner in New York. SinglePlatform was bought by Constant Contact for $100 million in 2012.