FORTUNE -- Kent Goldman is stepping down as a partner with First Round Capital, in order to launch his own seed-stage fund.
He joined First Round as a San Francisco-based principal in 2008, just before the firm raised its first institutional fund. Goldman then was promoted to partner in 2012, at the same time that First Round raised its fourth fund.
His deals have included Airware, Cabana (acquired by Twitter), Hotel Tonight, HotPotato (acquired by Facebook), Liftopia, MemSQL, MessageMe, Path, Storenvy and Threadflip.
Goldman declined to comment, but word is that he'll be targeting $25 million for the new fund. I'm also hearing that he plans to call the new firm "Upside Partnership," although that may still change. No bad blood with First Round, just the desire to do something more entrepreneurial and a bit earlier stage.
This also does not seem to be specifically timed to First Round's next fundraise, which is expected to occur in the second half of 2014.
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Nothing says Festivus like, "Hot deal, price explosion. Look at all these term sheets baby…"
FORTUNE -- From First Round Capital comes the gazillionth Call Me Maybe parody (and let's not forget Psy…)
I rib them with love, of course, for the firm has invested in some of my favorite brands, including Warby Parker, (the Gwyneth Paltrow approved) Birch Box, ModCloth, and Refinery29. Not to mention TaskRabbit, StumbleUpon, and Uber.
This year's video MOREKatie Benner - Dec 19, 2012 1:58 PM ET
First Round Capital delves into the year's busiest online shopping day.
FORTUNE -- When it comes to Cyber Monday, few shoppers think about visiting a venture capital website. But First Round Capital has tried to change that this year, by launching a page full of special offers from 26 of its e-commerce portfolio companies.
Most of the deals are different from what the companies are offering through their own website, while around MOREDan Primack - Nov 26, 2012 3:49 PM ET
Serial entrepreneur and angel investor finds a new home.
FORTUNE -- Earlier this year we reported that Bill Trenchard, co-founder of LiveOps and Jump Networks, had agreed to spend the summer making investments for First Round Capital. Basically a feeling-out period for both sides.
Well, it seems that the experiment felt pretty good.
First Round announced today that Trenchard is joining the firm full-time as its third West Coast partner, bringing the overall MOREDan Primack - Nov 1, 2012 2:25 PM ET
A different type of education finance.
FORTUNE -- The dorm room is for today's generation of young entrepreneurs what the garage was to their forefathers. So it's not surprising that several venture capital firms have hired student "scouts" to patrol campuses for promising new start-ups.
But, until now, no venture capital firm had empowered students to make actual investment decisions. The exception to that rule is First Round Capital, which has committed MOREDan Primack - Sep 24, 2012 3:03 PM ET
Noted seed investor switches shops.
Bill Trenchard is planning to spend his summer making investments for First Round Capital, Fortune has learned. He will work out of the firm's West Coast office for at least the next several months, after which he may remain with First Round or move onto another endeavor.
Trenchard most recently had been investing on behalf of Founder Collective, where he will remain listed as a founder partner. His deals have MOREDan Primack - Jun 5, 2012 2:49 PM ET
First Round Capital has become king of the VC holiday videos (at least since Gary Snoman passed away), with infectious dance, song and Spice. This year they (and their portfolio companies) channel their inner Rebecca Blacks:Dan Primack - Dec 20, 2011 12:37 PM ET
Fisker Automotive, an Irvine, Calif.-based electric vehicle maker, has raised $100 million in new VC funding, according to a regulatory filing. The company previously raised around $540 million, plus a $528 million low-cost loan from the Department of Energy. Shareholders include New Enterprise Associates and return backer Kleiner Perkins Caufield & Byers. http://www.fiskerautomotive.com
ThredUp, a San Francisco-based online kids clothing exchange, has raised $7 million in Series B funding. Redpoint Ventures MOREDan Primack - May 8, 2011 1:00 PM ET
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