First Round Capital will Invest New $175M Fund Without Cofounder Howard Morgan

Howard Morgan on Bloomberg TV.

There are two major pieces of news from First Round Capital this week.

First, the University City-based venture firm successfully closed its sixth fund. The war chest of $175 million is the same amount First Round raised last time around, back in 2014.

The other bit of news comes with a touch of shock value: cofounder Howard Morgan, after 12 years with the firm, is stepping down to go into angel investing.

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