First Republic Bank

ActiveVenture Capital

Updated: Dec 5, 2025 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Mar 1, 2024	Foccuz	$700K Seed	—	Bassin Ventures, Chile Ventures, CP Ventures, FundersClub, Hubrix Ventures, Humba Ventures, Don Hutchison, Eric Goldman, Roy Rodenstein
Jan 1, 2023	Thirteen lune	$8.0M Seed	—	WestRiver Group, Claire Diaz-Ortiz
Oct 1, 2022	Payable	$6.0M Seed	—	ACME Capital, Andreessen Horowitz, Atlantic Labs, Balderton Capital, Buckley Ventures, Catapult Capital, Connect Ventures, CRV, Deciens Capital, Double Prime LLP, Earlybird Venture Capital, Iris Capital, MSM, NFX, Oak HC/FT, Oper8r, Outrun Ventures, Passion Capital, Hayden Simmons, Stride VC, Sunfish Partners, The Fintech Fund, Andrew Mullinger, Balaji Srinivasan, Eric Demuth, Evelyn Bourke, Felipe Villamarin, Francesco Simoneschi, Henry de Zoete, James Meekings, Maia Bittner, Marco Rodzynek, Michael Pennington, Mike Hudack, Phillip Chambers, Richard Burton, Rohini Pandhi, Shervin Pishevar, Simon Borrero, Sylwester Janik, Will Martin
Sep 1, 2022	Treasury Prime	$40.0M Series C	—	Deciens Capital, Oak HC/FT, Oper8r, QED Investors, Hayden Simmons, The Fintech Fund, Ulu Ventures, Karim Atiyeh, Maia Bittner, Rohini Pandhi
Jul 1, 2022	FairPlay	$10.0M Series A	—	Alumni Ventures, Deciens Capital, Nyca Partners, Oak HC/FT, Oper8r, Presto Ventures, Hayden Simmons, The Fintech Fund, Maia Bittner, Rohini Pandhi
Apr 1, 2022	Waivr	$1.0M Seed	—	20VC, 2.12 Angels, Adjacent, Adverb Ventures, Andreessen Horowitz, Basecamp Fund, Betaworks Ventures, BoxGroup, Chapter One Ventures, Contrary Capital, Costanoa Ventures, Deciens Capital, Factorial, FirstMark Capital, Forum Ventures, Gaingels, Hustle Fund, Leadout Capital, Metaplanet, NextView Ventures, Oak HC/FT, Oceans, Oper8r, Poseidon Asset Management, Hayden Simmons, Redpoint Ventures, Round One Capital, Shrug Capital, Splash Capital, The Fintech Fund, Ulu Ventures, Derrick Li, Drew Houston, Eric Ries, Howie Liu, Jaan Tallinn, Jeff Morris, Joe Greenstein, Karen King, Manish Patel, Mark Cuban, Mark Pincus, Matthew Dellavedova, Rohini Pandhi, Ron Pragides, Scott Belsky, Sheila Vashee, Stewart Butterfield, Tim Kendall, Wayne Chang
Apr 1, 2022	Seedscout	$440K Seed	—	Abstract Ventures, Kevin Hartz, AirAngels, Alt Capital, Alumni Ventures, Banana Capital, Bassin Ventures, Chile Ventures, CP Ventures, D.F.A. Capital, Earl Grey Capital, Founders Fund, FundersClub, Hubrix Ventures, Humba Ventures, Gadi Porat, Jude Gomila Rolling Fund, Kearny Jackson, Menlo Ventures, Meritech Capital Partners, Mischief Venture Capital, MizMaa Ventures, Offline Ventures, Pantera Capital, Pioneer Fund, Stripe, Tucker Seed Fund LLC, YLEM, Dan Wright, David Petersen, Don Hutchison, Eric Goldman, Frederic Kerrest, Gordon Wintrob, Jeremy Cai, Jon Runyan, Mathilde Collin, Max Mullen, Paul Rios, Ryan Carlson, Ryan Chan, Scott Belsky, Siqi Chen, Tony Xu, Zack Kanter
Apr 1, 2022	Sydecar	$8.0M Seed	—	Acrobator Ventures, Andreessen Horowitz, Audacious Ventures, Better Tomorrow Ventures, Climate Capital, Deciens Capital, DST Global, Frontier Dawn Partners, General Catalyst, Indicator Ventures, Lightspeed Venture Partners, Makers Fund, Oak HC/FT, Octopus Ventures, One Way Ventures, Oper8r, Peak, Point72 Ventures, rali_cap, Hayden Simmons, Stash Ventures, TEN13, The Fintech Fund, Third Prime, Tomahawk.VC, Valar Ventures, Andreas Dittes, Anne Wojcicki, Chris Murphy, Cornelius Walter, Kevin Lin, Louis Beryl, Maia Bittner, Mike Hudack, Nate Mitchell, Richard Talbot, Rohini Pandhi, Victor Jacobsson, William Tunstall-Pedoe
Sep 1, 2021	Grow Credit	$6.0M Seed	—	Acrew Capital, Andreessen Horowitz, Bain Capital Ventures, Bennu, Commerce Ventures, Craft Ventures, Curie.Bio, Curious Capital, Cyphr VC, Daffy, FiDi Ventures, FJ Labs, FTAC Ventures, M13, Monroe Capital, Mucker Capital, Night Ventures, Operator Partners, Paradox Capital, Point72 Ventures, Portage Ventures, REMUS Capital, RSE Ventures, Serena Ventures, Seven Seven Six, Sound Ventures, Spark Capital, The Perkins Fund, Timespan Ventures, Vayner RSE, Version One Ventures, Abe Burns, Baron Davis, Brian Sugar, Casey Neistat, Frederic Kerrest, Gokul Rajaram, Haroon Mokhtarzada, Ian Borthwick, Jason Gardner, Jason Robins, Joshua Webster, Logan Paul, Mark Goines, Omar Soliman, Omri Dahan, Peter Kight, Pir Granoff, Sébastien Deguy, Tamim Mourad, Will Kassoy, Yahya Mokhtarzada
Jul 1, 2021	Airbase	$60.0M Series B	—	Abstract Ventures, Kevin Hartz, AirAngels, Alt Capital, Alumni Ventures, Andreessen Horowitz, Bain Capital Ventures, Banana Capital, Battery Ventures, B Capital Group, Bessemer Venture Partners, Bread and Butter Ventures, Cedar Capital Group, CRV, Earl Grey Capital, First Round Capital, Founders Fund, Romero Rodrigues, IrishAngels, IVP, Jude Gomila Rolling Fund, Kearny Jackson, Kleiner Perkins, Matchstick Ventures, Menlo Ventures, Meritech Capital Partners, Mischief Venture Capital, Motivate Ventures, Offline Ventures, Pioneer Fund, Scale Venture Partners, Schematic Ventures, Sequoia Capital, Social Starts, Stripe, Susa Ventures, The Perkins Fund, Upload Ventures, Vitalize Venture Group, YLEM, Aditya Raghupathy, Anna Patterson, Catherine Wood, Dan Wright, Daren Cotter, David Petersen, Eric Ries, Frederic Kerrest, Gokul Rajaram, Gordon Wintrob, Haroon Mokhtarzada, Jeremy Cai, John Collison, Jon Runyan, Mark Goines, Mathilde Collin, Max Mullen, Paul Rios, Ryan Carlson, Ryan Chan, Sahin Boydas, Sam Lambert, Scott Belsky, Siqi Chen, Sumon Sadhu, Tony Xu, Zack Kanter
Jun 1, 2021	Elektra Health	$4.0M Seed	—	Aphelion Capital, Flare Capital Partners, OCA Ventures, Prime Movers Lab, Seven Seven Six, WestRiver Group, Alex Pattis, Curtis Lee, Varsha Rao
May 1, 2021	Park Place Payments	$2.0M Seed	—	Immeasurable, Trajectory Ventures, WestRiver Group, Wind Ventures, Justin Mateen, Nate Matherson
May 1, 2021	Treasury Prime	$20.0M Series B	—	Deciens Capital, Humba Ventures, Oak HC/FT, Oper8r, QED Investors, Hayden Simmons, The Fintech Fund, Two Sigma Ventures, Ulu Ventures, Dharmesh Shah, Karim Atiyeh, Maia Bittner, Rohini Pandhi
Jan 1, 2018	Treasury Prime	$3.0M Seed	—	Deciens Capital, Humba Ventures, Oak HC/FT, Oper8r, Hayden Simmons, The Fintech Fund, Two Sigma Ventures, Dharmesh Shah, Maia Bittner, Rohini Pandhi
Nov 1, 2015	Cola	$1.0M Seed	—	Amazon Alexa Fund, Bassin Ventures, BDC Venture Capital, Big Sky Health, Chile Ventures, Coinbase Ventures, Connect Ventures, CP Ventures, Creative Juice, ENIAC Ventures, Jenny Fielding, Scott Hartley, Exponent Founders Capital, Firstminute Capital, Freestyle Capital, FundersClub, Future Africa, Future Energy Ventures, General Catalyst, Hubrix Ventures, Humba Ventures, Luno Expeditions, Norrsken VC, Precursor Ventures, QED Investors, Quona Capital, Relay Ventures, Revolution, Stellar Capital, Tekton Ventures, The Community Fund, Vera Equity, Andre Mohamed, Charles Delingpole, David de Picciotto, Don Hutchison, Eric Goldman, Eric Hahn, Gabriel Weinberg, Iqram Magdon-Ismail, Jason Gardner, Jason Goldberg, Richard Chen, Roy Rodenstein, Tom Blomfield, Trevor Noah
Oct 1, 2012	Hackers/Founders	$230K Seed	—	500 Global, Carao Ventures, Costanoa Ventures, Counterview Capital, FJ Labs, FundersClub, Great Oaks Venture Capital, Humba Ventures, Long Journey Ventures, Magical Capital, Quiet Capital, Seven Seven Six, Structure Capital, TNT Venture, Y Combinator, Ben Lin, Brian Sugar, Erik Moore, Ian McNish, Joshua Schachter, Sam Altman, Scott Banister

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at First Republic Bank.

Samir Kaji

Managing Partner

Katherine August-deWilde

President & Chief Operating Officer

Brian Hertzog

Caroline Hale

Investor

Leadership Team

Key people at First Republic Bank.

Samir Kaji

Managing Partner

Katherine August-deWilde

President & Chief Operating Officer

Brian Hertzog

Caroline Hale

Investor

Deep Dive

High-Level Overview

First Republic Bank was a San Francisco-based commercial bank founded in 1985 that specialized in providing personalized banking, wealth management, and trust services primarily to high-net-worth individuals and businesses. It offered a range of financial products including private banking, real estate lending (notably jumbo mortgages), business banking, and investment management. The bank grew steadily over 35 years to become the 14th largest U.S. bank by assets, with a strong focus on tailored services for affluent clients. However, in May 2023, it became the second-largest bank failure in U.S. history when regulators seized it due to financial instability, and JPMorgan Chase acquired its assets and liabilities to maintain customer continuity[1][2][3][5].

Origin Story

First Republic Bank was founded in 1985 by James H. Herbert II, a former CEO of San Francisco Bancorp, who envisioned a bank dedicated to serving high-net-worth clients with personalized banking solutions. Starting with fewer than 10 employees and a single office, the bank initially focused on jumbo mortgages and certificates of deposit for luxury and investment properties. Over time, it expanded organically and through acquisitions, including a period under Merrill Lynch and Bank of America ownership during the 2007-2008 financial crisis. In 2010, Herbert and private investors repurchased the bank, taking it public later that year. The bank grew to operate over 80 offices across several states, serving a wealthy clientele with a broad suite of financial services[1][2][3][5][8].

Core Differentiators

Personalized Service Model: First Republic specialized in high-touch, customized banking and wealth management services tailored to affluent individuals and businesses.
Focus on High-Net-Worth Clients: The bank’s product offerings were designed for luxury real estate financing, investment management, and trust services, differentiating it from mass-market banks.
Low Cost of Funds: Due to a large proportion of non-interest-bearing checking accounts, the bank maintained a low cost of funds, enabling competitive loan rates.
Geographic Focus: Operated primarily in affluent urban markets on the U.S. West and East Coasts, including San Francisco, New York, Boston, and Los Angeles.
Strong Wealth Management Integration: Combined commercial banking with wealth management and brokerage services, creating a comprehensive financial ecosystem for clients[1][5][6].

Role in the Broader Tech Landscape

While not a technology company, First Republic Bank played a significant role in the broader financial ecosystem that supports startups and high-net-worth individuals, including many in the tech sector. Its focus on jumbo mortgages and wealth management services catered to affluent clients often involved in tech entrepreneurship and investment. The bank’s failure in 2023 occurred amid a broader regional banking crisis influenced by rising interest rates and liquidity challenges, highlighting vulnerabilities in banks heavily reliant on uninsured deposits and interest rate-sensitive assets. Its acquisition by JPMorgan Chase helped stabilize the market and reassured depositors, underscoring the interconnectedness of banking institutions with the tech and startup ecosystems[1][2][3][5].

Quick Take & Future Outlook

Following its failure and acquisition by JPMorgan Chase in May 2023, First Republic Bank ceased to exist as an independent entity, with its branches rebranded and integrated into JPMorgan’s network. The bank’s collapse serves as a cautionary tale about the risks of concentrated client bases, uninsured deposits, and interest rate exposure. Going forward, JPMorgan Chase’s stewardship is expected to maintain service continuity for former First Republic clients while leveraging its broader resources. The banking sector will likely continue to evolve with heightened regulatory scrutiny and risk management, especially for institutions serving niche, high-net-worth markets. The legacy of First Republic’s personalized banking model may influence how large banks tailor services to affluent clients in a more risk-conscious environment[1][2][3][9].

Sources

High-Level Overview

Origin Story

Core Differentiators

Personalized Service Model: First Republic specialized in high-touch, customized banking and wealth management services tailored to affluent individuals and businesses.
Focus on High-Net-Worth Clients: The bank’s product offerings were designed for luxury real estate financing, investment management, and trust services, differentiating it from mass-market banks.
Low Cost of Funds: Due to a large proportion of non-interest-bearing checking accounts, the bank maintained a low cost of funds, enabling competitive loan rates.
Geographic Focus: Operated primarily in affluent urban markets on the U.S. West and East Coasts, including San Francisco, New York, Boston, and Los Angeles.
Strong Wealth Management Integration: Combined commercial banking with wealth management and brokerage services, creating a comprehensive financial ecosystem for clients[1][5][6].