First In Closes Fund III Successfully
First In, a firm led by two ex-Marines, closed on $148 million for its Fund III on March 23, 2026, which represents nearly 7 times more than its previous fund, according to Venture Capital Journal. This closure was facilitated by the firm’s certification as a Critical Technology Fund by the US Small Business Administration and the Department of War.
Details of the Fund Raise
The $148 million raised for Fund III marks a significant milestone for First In, as it attributes the success directly to the Critical Technology Fund certification. According to Venture Capital Journal, this certification helped the firm secure the funds, positioning it among emerging managers in the venture capital space.
Firm Background and Certification
First In, as a firm led by two ex-Marines, specializes in areas such as cybersecurity and defense technology, which aligns with the requirements for the Critical Technology Fund certification by the US Small Business Administration and the Department of War. Widely known in venture capital circles, such certifications can provide access to government-related opportunities, though specifics here are tied to the fund raise as reported.
Implications for Emerging Managers
First In’s achievement with Fund III highlights how certifications like the Critical Technology Fund can amplify fundraising efforts for firms in defense and technology sectors.
