Partner at First Round Capital
Check size: First Round's published firm-wide initial checks are typically $1M–$7M, averaging about $3.5M; it has participated in rounds from $100K to $20M. No personal range is published for Todd.
Todd backs technical founders who can turn complex technology into an elegant power tool and is unusually focused on the mechanics of reaching product-market fit. His disclosed portfolio—fal, Parallel, Town, Ploy, Artemis, Actively, and Noon—centers on generative-media infrastructure, AI-native software, agentic products, security, sales reasoning, website automation, and design-to-code workflows.
Begin with market selection and the acute need, then make the 4Ps explicit: persona, problem, promise, and product. Show why the technology becomes a simple power tool, what customers already do without it, what they will pay for, and the leading evidence of pull. Describe design-partner learning, iteration or pivot criteria, and the path to at least a $100M-ARR market. A referral is faster, but First Round reviews cold submissions.
Deeply technical products that feel simple and powerful, founders who select a valuable market before overbuilding, acute functional and emotional user needs, fast evidence-driven iteration, design partners willing to pay, and teams that can translate breakthrough technology into a must-have workflow.
His published PMF work implies weak fit for nice-to-have products, attractive technology without an acute customer need, a weak or non-venture-scale market, discovery that merely confirms founder beliefs, product iteration without explicit hypotheses, and later-stage companies already beyond First Round's first-money mandate.
Classify a sales-led B2B product as nascent, developing, strong, or extreme product-market fit, then use stage-specific indicators instead of treating PMF as a binary feeling.
A promising idea meets an acute functional job and an important emotional need in a large market, while a breakthrough interface makes the underlying technology usable.
State and test persona, problem, promise, and product; use willingness-to-pay and design-partner behavior to avoid hearing only what confirms the founder's preferred idea.
Ask whether deep technical capability is hidden behind a simple, powerful user experience that amplifies the customer's skill rather than exposing system complexity.
“Figuring out how to translate complex technology into elegant ‘power tools’ is a passion of mine.”
— https://www.firstround.com/team/investing/todd-jackson
“The most important choice you make is the one before you get started.”
— https://review.firstround.com/after-15-years-as-a-product-leader-ceo-and-now-vc-heres-the-advice-i-always-share-with-future-founders/
Sales-led B2B product-market fit can be decomposed into observable levels and improved through explicit work on discovery, market, positioning, sales, and iteration.
Real paths to product-market fit are nonlinear; studying detailed founder histories reveals repeatable lessons about pivots, customer discovery, market selection, and early pull.
Founders improve the odds of product-market fit by choosing a valuable market, combining acute functional and emotional needs, and translating technical complexity into an accessible power tool.
+ 6 more investments. View fund →