Investing at Conviction
The First Run Angel Network backs founder-led food and beverage brands that have proven traction with great products and good margins.
We see what works early and then invest before the rest of the market.
About the First Run Angel Group (FRAG)
The First Run Angel Group is a network of founders, investors, and operators who invest at the point of conviction.
We back founder-led food and beverage companies that have proven customer demand, strong margins, and clear traction.
Early Access to the Next Breakout Food Brands
We meet founders at the idea stage through the First Run Accelerator and build with them. We see what works early across product, margins, and velocity, then invest before the rest of the market.
Frequently Asked Questions
Still have questions? Reach out to us at hello@firstruncpg.com. We’d love to chat.
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FRAG is designed for accredited investors, founders, and operators who want to engage with early-stage food and beverage companies. All members must meet the SEC’s accredited investor criteria.
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Deals primarily focus on early-stage consumer food and beverage companies.
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We aim to present 8–10 deals per year, primarily via virtual meetings.
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Deal participation is completely flexible. You choose which opportunities, if any, you wish to invest in.
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The minimum check size is $10,000 per deal. Participation in any deal is entirely optional.
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Members typically invest directly into the companies. There are no management fees or carried interest on standard direct investments.
We will occasionally organize a special purpose vehicle (SPV) for select deals when specifically requested by the founder.
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As part of First Run's integrated platform (Accelerator + Angel Group + Fund), we have strong visibility into follow-on rounds and will support SPVs where appropriate.
For Founders
We back food brands at the point of conviction — when you’ve proven strong product-market fit, real customer demand, and viable margins.
If you’re a founder building with Early Access + Customer Obsession + GTM execution, we’d like to hear from you.
Reach out to our team to see if your brand is the right fit.