Entrepreneurs First

Entrepreneurs First (formerly Entrepreneur First; EF), founded in 2011 by Alice Bentinck and Matt Clifford, is a global “talent investor” that backs exceptional individuals before they have a team, idea, or company, assessing them on talent and ambition rather than a pitch. Selected individuals join FORM, a cofounder-matching and idea-development phase in London or Bangalore, receiving an equity-free Talent Investment grant. Teams that pass the Investment Committee move to San Francisco for a further LAUNCH phase, with up to $250,000 in equity investment, follow-on funding access, and $600,000+ in partner credits. EF also runs several U.S.-based pathways: founders ready to commit full-time can apply directly for the $250,000 investment and a three-month San Francisco residency; those still exploring can join the equity-free $10,000 Fellowship Residency; and The Bridge is an 8-week Bay Area residency for young European founders who graduated in 2023 or later. XF backs repeat founders with $250,000 in activation capital across a two-month London stage and a three-month San Francisco stage, with follow-on support to Series B. EF discontinued its France and Germany programs in 2025 to concentrate on the U.S. Entrepreneurs First ranked No. 74 of 80 in TIME’s 2026 list of America’s Best Incubators & Accelerators. Sector agnostic, EF’s portfolio is collectively worth more than $18 billion, including Cleo, Aztec, Tractable, and PolyAI.