# First Close Partners

> First Close Partners is a New York fund-of-funds that invests as a limited partner into venture capital firms led by underrepresented managers - women, people of color, LGBTQIA+ and other founders long shut out of institutional capital. Its edge is timing: it backs new managers at the hardest moment, the first close, when a fund is still a spreadsheet and a thesis. Founded in 2020 by venture lawyer Ed Zimmerman and Betsy Zimmerman alongside a bench of well-known investors, the firm has committed capital across roughly 150 venture managers and won the NVCA's 2024 DEI Impact Award.

- **Founded:** 2020
- **Headquarters:** New York, United States
- **Founders:** Ed Zimmerman (Co-Founder), Betsy Zimmerman (Co-Founder & General Partner), Theresia Gouw (Co-Founder (Acrew Capital)), Josh Kopelman (Co-Founder (First Round Capital)), Regina Benjamin (Co-Founder (Former US Surgeon General)), PJ Parson (Co-Founder (Northzone)), Annika Sten-Parson (Co-Founder (Inner Foundation))
- **Team size:** ~20
- **Products:** LP commitments to emerging managers, Fund II, Community and network access
- **Notable:** Winner, NVCA 2024 DEI Impact Award, Recognized on the DEIC (Diversity, Equity, and Inclusive Capitalism) Power 100, Committed LP capital across roughly 150 venture managers since 2020

## Products & services

- **LP commitments to emerging managers** — Anchor and early limited-partner capital into venture funds led by underrepresented managers, with a focus on helping them reach their first close.
- **Fund II** — The firm's second fund-of-funds vehicle, with a portfolio spanning first-time emerging managers to seasoned, Midas-listed investors.
- **Community and network access** — Beyond capital, the firm serves as a community and signaling source that helps underrepresented managers reach other LPs and close their funds.

## Achievements

- Winner, NVCA 2024 DEI Impact Award
- Recognized on the DEIC (Diversity, Equity, and Inclusive Capitalism) Power 100
- Committed LP capital across roughly 150 venture managers since 2020
- Now investing its second fund (Fund II)

## Latest updates

- **2024-03** — Named winner of the NVCA's 2024 DEI Impact Award at the NVCA Annual Leadership Gala and Awards.
- **2023-01** — Began deploying Fund II, spanning first-time emerging managers to Midas-listed veterans.

## Links

- Website: https://firstclosepartners.com
- LinkedIn: https://www.linkedin.com/company/first-close-partners
- Twitter/X: https://twitter.com/close_first

---

Profile page: https://yespress.io/first-close-partners
Published by YesPress — https://yespress.io
Last updated: 2026-08-16