PRESS RELEASE: August 15, 2012
“Mayor Michael A. Nutter announced today that First Round Capital, led by leading venture investor Josh Kopelman, will be moving its headquarters to Philadelphia. First Round Capital is one of the most active early-stage venture capital firms in the country, having helped to fund and start more than 200 companies since it was founded in 2004. First Round will open its 10,000-square-foot facility in West Philadelphia on Wednesday, September 19, at a ceremony to be attended by Mayor Nutter…”
“The arrival of Josh Kopelman in Philadelphia is a game changer,” said Mayor Michael A. Nutter. “When one of America’s leading entrepreneurs and investors sees Philly as a place of ideas and innovation, a place where those ideas can be transformed into successful businesses and jobs, and feels the need to be part of it, he sends an incredibly powerful message about what is going on in our city. Welcome to Philly, Josh. We’re just getting started.”
First Round Capital partner Josh Kopelman said, “We’ve begun to see more really exciting companies get their start in Philadelphia and more entrepreneurial activity at Philadelphia’s universities. For me this is more than just an office move. It’s a way for me to get more involved in helping local entrepreneurs get their businesses off the ground, and I’m looking forward to playing a more active role in helping the current generation of Philadelphia entrepreneurs make their mark.”
Earlier this year Josh Kopelman was named as one of the top ten ‘angel investors’ in the United States by Newsweek magazine, and was ranked sixth on Forbes 2012 “Midas List” of the top 100 tech investors. He has been an active entrepreneur and investor for more than twenty years, co-founding the company Infonautics Corporation while still a student at the University of Pennsylvania in 1992. In 1996 Infonautics went public and in 1999 Josh left to found the website Half.com which he sold to eBay one year later. In late 2003 Josh helped to found TurnTide, an anti-spam company that created the world’s first anti-spam router. TurnTide was acquired by Symantec just six months later.
In addition to being an active investor, Josh has served as an Entrepreneur-in-Residence at Comcast Interactive Capital and is an inventor on ten U.S. Patents for his work in Internet technology. Josh has been recognized as one of the “10 Most Influential People in Philadelphia Technology” by the Philadelphia Inquirer, one of the “76 Smartest Philadelphians” by Philadelphia Magazine and as one of forty individuals under the age of forty who have made the biggest impact on the Philadelphia region by the Philadelphia Business Journal.
First Round Capital, currently headquartered in West Conshohocken, will initially employ approximately 10 people in the Philadelphia office. The facility will have space to host five startup companies including, initially, Uber Philadelphia, Curalate, and Technically Philly. In addition, there will be space for 24 entrepreneurs to develop their concepts and event space to host educational and community events. The building previously was the site of another Philadelphia entrepreneurial landmark – the first “Urban Outfitters” retail location.
“Philadelphia is starting to establish itself as a player in the world of startups and innovation,” said Alan Greenberger, Deputy Mayor for Economic Development. “We have no shortage of ideas in this city due to the incredible talent emerging from our colleges and universities, but too often those ideas leave in search of early-stage funding. First Round Capital’s arrival in Philadelphia is a strong signal that this city, which has led this country in innovation since its founding, will continue to be a America’s home for ideas, entrepreneurship and business creation.”