First Analysis is a Chicago-based venture capital firm that has deployed more than $780 million over four decades into B2B technology companies. Led by CEO Oliver Nicklin, the firm operates a dual model: it invests venture capital while simultaneously providing advisory services to emerging growth companies and established technology leaders. Notably, First Analysis is the largest investor in its own funds, aligning its capital directly with portfolio outcomes.
The firm concentrates on technology-driven sectors including cybersecurity, healthcare IT, infrastructure technology, Internet of Things, vertical SaaS, e-commerce optimization, enterprise productivity, and future of work solutions. Its investment approach is research-intensive, drawing on deep industry analysis and strategic partnerships to inform both capital deployment and advisory engagements. First Analysis emphasizes sustained engagement with portfolio companies rather than passive investment, positioning itself as an active partner in scaling B2B technology businesses.
For professionals evaluating venture capital career opportunities, First Analysis presents a hybrid environment where investment evaluation intersects with hands-on advisory work. The firm's four-decade track record in B2B technology sectors and its dual operating model suggest roles likely involve both traditional venture capital functions - deal sourcing, due diligence, portfolio management - and direct strategic work with portfolio companies across enterprise software, infrastructure, and vertical-specific technology markets.