FirstMoney.In

For Startups

Status: As of March 2023, the program is on indefinite hiatus. Applications are closed.
FirstMoney.In (1st$n) is a program for startup founders to apply to experienced startup angel investors on a standard deal of $5,000 in return for 0.1% of your company. It is designed to facilitate access to capital for never-before-funded companies, especially those led by founders who identify as Women, BIPOC, and/or LGBTQ+. All startups are welcome and encouraged to apply.

Why Apply to 1st$n?

While most venture capital requires founders to sell a large stake to investors, the 1st$n deal is purposely modest and as simple as possible. The program uses a standard deal: a $5,000 investment with a $5 million cap on a SAFE: Valuation Cap, no Discount. The investment purchases 0.1% equity in your company. FirstMoneyIn is not affiliated with Y Combinator in any way, but the program uses their verbatim SAFE document for the financing agreement.

How the program works:

Fill out an application that asks for contact basics and your deck. Your deck is your pitch to us. We care more about substance over style. Contents commonly include a description of what you are building, its target customers, your traction, and team.
Upon submission, a group of experienced angel investors will have access to the application for two business days.

If one or more angel investors are interested during that window, they will contact you directly for an interview. All angels have different styles for investing, but most will require two meetings. Similar to being called for a startup accelerator interview, the chances for an investment even with a meeting are still less than 25%. Any investor who conducts an person-to-person interview and passes is expected to provide at least a few sentences of written feedback. Any investment facilitated by 1st$n is a private agreement between the startup and a specific investor. As a founder, you are not obligated to take investment money from anyone.

After two business days, your application is considered closed. We do not have resources to provide feedback for every application.

Please only reapply after your company has made significant new progress, and no more than once every six months.

Apply Here

Participation is free for both founders and investors.

For Angels

While we want every startup to apply, the program requires its angels to be experienced and awesome. To participate as an angel investor on the 1st$n platform, you must:

Be an accredited investor as defined by SEC Rule 501 of Regulation D.
Only invest what you can afford to lose. Startup investing is risky.
Be an active startup investor.
Have written at least three angel investment checks to startups. One of these must be a direct check on a YC SAFE.
When investing in startups surfaced on the platform, offer founders the standard deal or better: $5,000 on a $5 million post-money cap with a SAFE: Valuation Cap, no Discount. Negotiation of a larger check size, pro rata side letter or information rights is reasonable, but adding burdensome terms (e.g., a Board seat) is not.
Provide a few sentences of written feedback to companies with which you meet, but decide not to invest.
Be thoughtful in initiating conversations with founders. That is, you should only meet with founders you are considering for investment.
Be cautious. All information from founders is self-reported and has not verified by 1st$n. Do diligence to confirm applicant claims and assertions.
Keep startup application discussions strictly among 1st$n investors. Sharing deal information outside 1st$n will result in your permanent removal.

Besides these requirements, 1st$n is committed to fostering an open and welcoming environment. Participants should review the community's Code of Conduct.

Inclusion to be a 1st$n investor is free and by invitation only. The core group of angel investors have invested in an average of 23 startups each, with a median of 14.

Program Status
Last update: March 2023, Startup Applications are closed.

Why Apply?

Gain access to exceptional investors even if you are not well-connected in Silicon Valley or do not fit the 'startup founder' stereotype. Your first investor often serves as an advocate and advisor.
Your application will be evaluated by many angel investors, and each angel makes their own investment decision. Unlike a pitch to a VC or an accelerator application, the one application to 1st$n gets multiple chances at an investment.
Investment decisions are made rapidly.
The 1st$n standard deal is simple and sized such that you do not have to stress about selling a large chunk of your company for your first venture money. When your company is ready for larger checks, your 1st$n investor can make introductions and help prepare you for what to expect.
Member angels agree to keep your application information discreet. We will not sign an NDA to see your application, but the venture capital ecosystem relies on the reputation of participants. Please contact apply@firstmoney.in if you experience poor behavior by our associates or even people at other firms.
The 1st$n standard deal sets a minimum value expectation for your company. This is particularly useful for startups in geographies where transformative ideas may be underappreciated. We sometimes welcome larger deals for companies that already have progressed to higher valuations. Please contact us at apply@firstmoney.in to discuss.
The average 1st$n investor has made over a dozen startup investments. Being in their portfolio is a positive signal to potential customers, employees, and vendors that your startup should be taken seriously. Also, a initial reputable investment from a 1st$n angel can help wield off predatory investors.

About FirstMoney.In

The program was created by Alan Glennon, Yury Lifshits, and friends, to discover underrepresented and underestimated founders. FirstMoneyIn does not generate revenue. Investors benefit through increased dealflow, and founders get their pitches in front of potential investors.

As founders, be aware that "first money" is not easy to get. Startup investors tend to invest in 1% or less of startups they evaluate. With multiple angels independently considering your application, we anticipate the likelihood of investment will be similar to a top-tier accelerator. Angels invest when they believe your team, your abilities, your product, and the market can lead to a massive return. We are excited you have chosen to become an entrepreneur. Best wishes on your path!

FirstMoney.In for Startups

For Startups

For Angels

Why Apply?

About FirstMoney.In