Josh Kopelman is angry.
When Technically Philly pops into his office, the normally cheery venture capitalist is busy trying to figure out why First Round Capital’s email service is down.
“They say six minutes of downtime,” he says. “but they’re way over that.”
After a brief phone conversation (he would later blog about the downtime) he immediately returns to his normal upbeat demeanor and for good reason: Kopelman is one of four founding partners of one of the most active early-stage investment companies in the country. The firm has become as much of a brand as the companies it invests in, boasting the most-visited VC site on the web.
Located in a small, nondescript office building in West Conshohocken, the firm has expanded to San Francisco and will open its New York City offices next week, giving it a headquarters in two of the largest technology communities. The firm is setting a new standard in investment by making a high number of smaller, early stage investments while nurturing companies from the ground up.
First Round, however, is just the latest chapter in the Wharton grad’s career. Kopelman, a New York native, started Internet information company Infonautics while still in college and almost didn’t stay in Philadelphia.
“Once you have 17 people in the company with mortgages and me without, that pressured me to stay,” he says, “Then I grew attached to the area, built networks and planted some roots here and started Half.com.”
Since then, Philly has treated him well: Kopelman and his partners sold Half.com to eBay for $350 million in 2000, giving Philadelphia one its biggest tech “wins” in the Web 1.0 times. After starting and selling Turntide to Symantec in less than a year, Kopelman switched from entrepreneur to investor, making Philadelphia home to one of the most influential Internet investment firms in the world.
We sat down with Kopelman to talk about his take on Philadelphia, what kinds of companies he looks for and why Philly (and every other city) has no comparison.
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