At First Round Capital we believe that the country is flat — and we strive to find (and fund) the best entrepreneurs regardless of where they are located. This requires us to travel. A lot.
For the last several years, I’ve lived in Philadelphia – and have spent a fair amount of my time on planes and trains — making trips to Boston, New York, the west coast and anywhere else kick-ass entrepreneurs are attacking big-ass markets. However, as the New York ecosystem has continued to grow, what started out as a weekly trip from Philadelphia to NY has become an almost daily commute. The vast majority of companies in our portfolio that I work with are located in NYC – and, as a result, most days of the week, most days of the year, I give 4 hours to Amtrak.
Four hours of daily commute is a lot of time. While it allows me time to keep my inbox up-to-date (for the most part), it is time I can’t spend meeting with new entrepreneurs or helping our portfolio companies.
That’s why I’m super excited to announce that my wife and I are moving to New York. This will give me 20 additional hours each week with the 35%+ of our portfolio that calls New York home. This is 80 hours each month in our office on Union Square working with Howard, Chris and Charlie to be more available, more prepared and more helpful to each founder we have the opportunity to connect with.
I’ll continue to spend time travelling – to Boston, Philadelphia and elsewhere in the country. But I am super-excited to shift from Amtrak to the L train. To live in the center of a rapidly growing and amazingly vibrant community of founders and investors. To become a fulltime part of the First Round Capital New York office and to officially add my name to the list of LOCAL resources available to the NYC community.
If you have decided to be a founder I would love you to teach me about your business. If you have decided to be a founder in NYC, I hope the lesson can occur in person.