Investment Banking & Corporate Finance · Private Equity, VC & Investor
First Analysis
Venture capital and transaction advisory for B2B tech companies.
Available information varies by company and source.
Profile record updated:
Company facts
- Official name
- First Analysis Corporation
- Entity type
- COMPANY
- Founded
- 1981
- Headquarters
- One South Wacker Drive, Suite 3900, Chicago, Illinois 60606
- Company size
- 10–49
- Market cluster / sector
- Investment Banking & Corporate Finance
- Market role
- Private Equity, VC & Investor
- Official website
- firstanalysis.com
What First Analysis does
The company combines two related financial services models. First, it manages venture capital funds that invest in growth-stage B2B technology businesses and earns recurring management fees plus performance-linked carried interest on successful exits. Second, it provides transaction advisory and investment banking services to technology companies, generating fees from capital raises, strategic transactions and related mandates. This integrated model creates value by using sector knowledge, investor relationships and transaction expertise across the same B2B technology client base.
Category differentiation
This is a venture capital and transaction-advisory firm, not a market research publisher or a general financial data provider. It serves B2B technology companies rather than consumer-facing software buyers.
Strategic context
AI-supported assessment from the existing company research; distinguish interpretation from sourced facts.
First Analysis Corporation is a US-based venture capital and transaction-advisory firm focused on growth-stage B2B technology companies. It invests through venture funds and advises companies on capital raising and strategic transactions. The company operates through a parent structure that includes an SEC-registered investment adviser and a FINRA-registered broker-dealer, giving it both investment management and regulated securities execution capabilities. Its customers are founders, management teams and shareholders of growth-focused B2B technology businesses seeking institutional capital, strategic advice, or transaction support. It generates revenue through venture fund management economics and advisory fees tied to financing and transaction activity. The firm’s positioning is specialist rather than broad-market, centred on long-standing sector expertise in B2B tech.
Business model & monetisation
The company monetises through two primary mechanisms: venture fund economics and advisory fees. Venture capital activity is monetised via fund management fees and carried interest on portfolio outcomes. Transaction-advisory activity is monetised via engagement fees, retainer fees and success-based fees linked to financings or completed deals.
- Transaction advisory and investment banking fees
- Service Fee
- Venture fund management fees
- Service Fee
- Carried interest from fund realisations
- Percentage Take-Rate
Products & capabilities
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Competitors & alternatives
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Multi-stage venture capital firm investing in growth companies.
Venture capital firm investing in technology companies across stages.
Global venture capital firm investing in technology companies.
Technology-focused venture and software investment firm.
Venture capital firm investing across stages since 1981.
Recent recorded signals
Dates refer to the source publication. Older entries are historical context, not evidence of a new event.
First Analysis acted as the exclusive financial advisor to Phigenics in its majority growth investment from Battery Ventures
Recorded impact score: 4/5
First Analysis acted as the exclusive financial advisor to Phigenics, a healthcare-focused water risk management platform, in its majority growth investment from Battery Ventures. The partnership aims to support Phigenics' growth through increased investment in existing and new products, as well as expansion into new markets. Phigenics serves more than 250 customer organizations, including major hospital systems and VA facilities, and operates accredited laboratories in Illinois and Arkansas.
- On September 24, 2026, First Analysis announced it acted as exclusive financial advisor to Phigenics in a majority growth investment from Battery Ventures.
- Phigenics is a healthcare-focused water risk management platform serving more than 250 customer organizations, including major hospital systems and VA facilities.
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Questions about First Analysis
What is First Analysis?
First Analysis is a US venture capital and transaction-advisory firm focused on growth-stage B2B technology companies.
Who uses First Analysis?
Its clients and counterparties are founders, executive teams and shareholders of B2B technology businesses seeking capital or transaction advice.
How does First Analysis make money?
It earns advisory fees from financings and transactions, plus venture fund management fees and carried interest from investment outcomes.
Sources & coverage
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