First Minute Capital
First Minute Capital is a company.
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Updated: ·
Financial History
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Leadership Team
Key people at First Minute Capital.
First Minute Capital is a company.
Key people at First Minute Capital.
Key people at First Minute Capital.
Firstminute Capital is a London-based early-stage venture capital firm with $500m in assets under management (AUM), specializing in pre-seed and seed investments of £1m to £3m into European founders building global tech companies.[3][4] Backed by over 130 unicorn founders, its mission is to identify "talent magnets"—maverick entrepreneurs whose passion attracts top talent—and provide them with funding, hands-on support, and networks from day one to scale into world-class businesses.[1][3][4] The firm is sector-agnostic but has deep expertise in vertical AI applications, deep tech, SaaS, climate tech, web3, and gaming, having backed over 170 portfolio companies including 11 unicorns like Wayve, Mistral, and Storyblok.[2][3][4] It plays a key role in the startup ecosystem by leading first institutional checks, offering operational guidance, and connecting founders to US markets and top-tier follow-on investors, fostering Europe's next generation of global champions.[1][4]
Firstminute Capital was founded in 2017 by Brent Hoberman and Spencer Crawley in London.[2][3] Hoberman, a serial entrepreneur, co-founded and exited two unicorns (Lastminute.com and mytaxi), bringing proven operator experience as Chairman of Founders Forum Group and Founders Factory.[2][3] Crawley complements this with investment expertise, forming a founder-first team now comprising 14 investors and operators across the UK and Europe.[3] The firm's evolution reflects a shift from general early-stage bets to emphasizing "magnetic ambition" in European talent, expanding from initial funds closed in 2018 to a $500m AUM vehicle by 2024, while maintaining a focus on being the "first minute" partner for pre-seed/seed stages.[3][4][5]
Firstminute Capital rides the wave of Europe's AI and deep tech resurgence, backing foundational players like Mistral at inception amid a boom in vertical AI and generative models that demand early, patient capital.[3][4] Timing is ideal post-2021 funding winter, with market forces like US-Europe talent flows, regulatory tailwinds for ethical AI/climate tech, and $500m AUM enabling consistent deployment into 170+ bets.[2][3] It influences the ecosystem by democratizing unicorn access for European founders, bridging to global markets, and supercharging "maverick" missions that attract talent—evident in portfolio growth from seed to impact, countering brain drain and amplifying Europe's 10%+ of global VC share in high-potential sectors.[1][4]
With four funds closed (latest Aug 2024) and a pipeline of AI/deeptech leads, Firstminute is poised to back the next AI unicorns as compute costs drop and enterprise adoption surges.[3][4][5] Trends like sovereign AI in Europe, web3 revival, and climate scaling will shape its portfolio, potentially evolving influence via expanded US co-invests and operator alumni networks. As Europe's seed landscape heats up, expect it to solidify as the go-to for magnetic founders, turning "first minute" checks into enduring global champions—echoing its origin as a unicorn-founders' club fueling ambition at scale.[2][3][4]
