First Principles
First Principles is a Bangalore-based, thesis-driven angel investment firm founded in 2019 by Nitin Sharma, deploying roughly 40 early-stage checks across Digital India consumer and SMB themes plus global blockchain and AI deep tech, and operating the Incrypt Blockchain developer community and policy initiative.
- Company typePrivate
- Founded2019
- HeadquartersBangalore, India
- Headcount1–10
- GTM typeB2B
- OfferingServices
What First Principles does
First Principles is a thesis-driven, early-stage venture investment firm founded in 2019 by Nitin Sharma and headquartered in Bangalore, India. It operates as a portfolio of approximately 40 angel investments organized around two pillars: a Digital India thesis covering content, D2C brands, healthcare, education, agriculture, SMB digitization, and India-for-world SaaS, and a Global Deep Tech thesis covering blockchain/Web3, AI, decentralized finance, and IoT convergence. The firm also runs the Incrypt Blockchain sub-brand, which combines a 400+ member developer community with policy engagement and direct investments to shape India's emerging blockchain sector.
The firm sources and diligenced deals through a global network spanning Silicon Valley VCs, the Indian startup ecosystem, and blockchain communities, supported by an extended team of domain experts from PayMate, Wired/Vogue, Outlier Ventures, and Quantstamp. Distribution occurs via speaking engagements at Wharton, IIMs, WEF, MIT Enterprise Forum, Y Combinator, and TiE, media contributions to Economic Times, TechCrunch, LiveMint, and YourStory, and the AngelList India syndicate rather than traditional marketing channels. Founder Nitin Sharma's prior investing track record includes board roles at NEA (OPOWER, Millennial Media, ChannelAdvisor, Gilt) and Lightbox.
The revenue model relies on conventional venture economics — carry on successful exits from a thesis-driven portfolio — rather than disclosed management fees or LP commitments. No proprietary technology platform or software product is operated; the "platform" is the firm's network, brand, and engagement model with portfolio founders. No public revenue, AUM, or carry figures are disclosed in available source material, and the entity has not raised disclosed institutional funding.
First Principles firmographics
Firmographics- Name
- First Principles
- Legal name
- First Principles
- Website
- https://firstprinciplesvc.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- First Principles is a Bangalore-based, thesis-driven angel investment firm founded in 2019 by Nitin Sharma, deploying roughly 40 early-stage checks across Digital India consumer and SMB themes plus global blockchain and AI deep tech, and operating the Incrypt Blockchain developer community and policy initiative.
- Ownership category
- akta.pro rank
First Principles industry classification
Industry- Product category
- Venture Capital and Angel Investing
- NAICS
- Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Technology & Software Growth Equity (FSANACAA)
Keywords
Where First Principles is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Markets served
First Principles business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Distribution channels1 record
Marketing channels5 records
First Principles product offering
Product offeringCore offering
First Principles is a thesis-driven, early-stage venture and angel investment firm led by Nitin Sharma. It deploys capital and provides hands-on growth strategy, problem-solving and global network access to founders across two mandates: Digital India and Global Deep Tech (blockchain, AI, IoT).
Product overview
First Principles is an early-stage venture capital and angel investment firm led by Nitin Sharma. Rather than offering a unified product or platform, it operates a portfolio of approximately 40+ angel investments across two primary mandates: (1) Digital India — backing startups in healthcare, education, agriculture, D2C brands, SMB digitization, and SaaS serving the Indian market; and (2) Global Deep Tech — investing in blockchain/Web 3.0, AI, and decentralized finance globally. The firm also created Incrypt Blockchain to build India's blockchain ecosystem. No proprietary product, platform, or software-as-a-service offering was identified in the source material.
Differentiator
Problem solved
Functional benefit
Brands
- Incrypt Blockchain: An initiative created by First Principles to help shape India's emerging blockchain ecosystem through investments, a 400+ strong developer community, and deep policy engagement with the Indian national government.
Products and services
- Early-stage venture and angel investing Thesis-driven early-stage capital deployment from napkin stage to Series A across Digital India and Global Deep Tech themes, backing underrated founders and contrarian ideas.
- Founder Support and Growth Advisory Very high engagement advisory model providing growth strategy, problem-solving support, operational guidance and global network introductions for fundraising and partnerships to portfolio founders.
- Incrypt Blockchain An initiative created by First Principles to shape India's emerging blockchain ecosystem through investments, a 400+ strong developer community, and deep policy engagement with the Indian national government.
Quantifiable outcome
- Multiple successful exits from prior funds including Millennial Media ($238M), AddThis ($532M), OPower ($532M)
- +1 more outcomes
Companies that use First Principles
Customer profileSegments2 records
Ideal customer profiles3 records
First Principles technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
First Principles partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- NITI Aayog (India's National Policy Think Tank)coreFirst Principles team members serve on India Advisory Boards and are actively engaged with India's central government policy think tank on frontier technology policy making, including contributing to the National Strategy for Blockchain published in January 2020.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
First Principles competitors and assessment
Company assessmentDirect peers
- LetsVenture: LetsVenture is an online platform that curates and syndicates early-stage investment opportunities in Indian startups. It directly competes for the same thesis-driven, high-engagement angel deals that First Principles pursues across Digital India themes.
- AngelList India: AngelList India is the primary angel syndicate platform used by First Principles to source deals and syndicate investments in Indian startups. Both operate in the same model of thesis-driven angel investing across India, with overlapping access to deal flow and LP capital.
- 100X.VC: 100X.VC is an India-first early-stage fund writing pre-seed and seed cheques in Indian startups. Its thesis around category-defining Indian consumer and SaaS companies directly mirrors First Principles' Digital India vertical.
- Blume Ventures: Blume Ventures is an India-focused early-stage VC fund backing tech-led startups from seed to Series A. It overlaps with First Principles on Indian digital, SaaS, and deep tech themes and often co-invests or competes for the same founders.
- Indian Angel Network: Indian Angel Network is one of India's largest angel networks, actively investing in early-stage Indian startups across sectors. Like First Principles, it targets high-engagement angel investing in India with a similar ticket size and thesis-driven approach.
- India Quotient: India Quotient is an early-stage VC investing in India-focused consumer and SaaS startups from seed to Series A. It shares First Principles' thesis on backing Indian founders solving India-specific problems with technology.
- EMVC: EMVC is an early-stage mobile and consumer-tech focused fund in India. It co-invests alongside First Principles in portfolio companies like Clinikk and serves a similar role as a seed/Series A backer of Indian consumer-tech founders.
Broad incumbents
- Kalaari Capital: Kalaari Capital is an established India-focused early- and growth-stage VC. While it operates at a larger AUM and later stages than First Principles, it invests in overlapping themes including Indian SaaS, digital consumer, and deep tech.
- Peak XV (formerly Sequoia India): Peak XV (formerly Sequoia Capital India/Southeast Asia) is one of the largest institutional VC franchises operating in India. Several First Principles portfolio companies (Kutumb, Pocket Aces) have raised from Peak XV at later stages, making it both an incumbent and a likely follow-on investor.
Others
- Kauffman Fellows: Kauffman Fellows is a global VC leadership program of which First Principles' founder Nitin Sharma is a nominee (2012 cohort). It is an ecosystem/talent network that supports emerging VC leaders rather than a direct investor, but it represents the peer community and pipeline for emerging fund managers globally.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Principles social profiles
Digital presenceFirst Principles financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Principles leadership team
Management profileNumber of profiles
Profiles3 records
First Principles funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Principles M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Principles
What does First Principles do?
First Principles is a thesis-driven, early-stage venture and angel investment firm led by Nitin Sharma. It deploys capital and provides hands-on growth strategy, problem-solving and global network access to founders across two mandates: Digital India and Global Deep Tech (blockchain, AI, IoT).
Is First Principles a public or private company?
First Principles is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was First Principles founded?
First Principles was founded in 2019. It employs 1 to 10 people.
Where is First Principles based?
First Principles is headquartered in Bangalore, India, in the Asia region.
Who are First Principles's main competitors?
Direct peers on record are LetsVenture, AngelList India, 100X.VC, Blume Ventures, Indian Angel Network, India Quotient and EMVC. Broad incumbents are Kalaari Capital and Peak XV (formerly Sequoia India). Kauffman Fellows is listed as an others.
Does First Principles have an API?
No public API is recorded for First Principles.
What industry is First Principles in?
First Principles's product category is Venture Capital and Angel Investing. Its primary akta.pro industry code is FSANACAA, Technology & Software Growth Equity. Its NAICS code is 523940 and its SIC code is 6282.