Charlie O’Donnell Explains How First Round Capital Made the Grade For Most Active VCs in 2011

charlieodonnell Charlie ODonnell Explains How First Round Capital Made the Grade For Most Active VCs in 2011

Mr. O'Donnell

Thomson Reuters Venture Capital Journal just released its list of top VCs and deals thus far this year, with First Round Capital and Draper Fisher Jurvetson joining the ranks of Kleiner Perkins Caufield & Byers and Sequoia Capital. First Round, from its New York outpost on Park Avenue, and Draper, from DFJ Gotham’s suite on West 31st St., both have a strong presence in New York City.

In total, peHUB says DFJ ‘s network is responsible for 28 deals from January to June, tying with Sequoia for the No. 3 slot. First Round’s network is responsible for 27 deals through June. Among First Round’s investments this year are homegrown start-ups like AdKeeper, GroupMe, and 33Across.  DFJ Gotham plunked down cash for Made In NYC ventures like Seamless Receipts, Yipit, Altruik, and Solvate.

Betabeat asked First Round principal Charlie O’Donnell how much of its $130 million fund, raised in 2010, was geared towards New York companies. “As a seed/angel stage investor, we’re always on the most active lists and a lot of it is NYC, but a lot of it is our great SF office, too,” he responded, via email.

“We see a pretty balanced stream of opportunities on both sides… but obviously when you’re on the most active list, if have of your deals are in one place, you’re going to be one of the most active local folks too. Personally, I think of it as a testament to reputation, too.  You’re not going to do a this many quality deals unless you see a lot, and you’re not going to see a lot unless you’re thought of as a great partner.”