First Drop

First Drop is a pre-seed stage impact fund based in Valencia, Spain, focusing on startups that address significant social and environmental challenges. The fund aims to demonstrate that investing in companies with positive societal and environmental impacts can be profitable, targeting a return of 25%. It primarily invests in sectors such as the circular economy, agriculture, and energy.

The fund is managed by Faraday Venture Capital SGEIC, S.A., a regulated fund management company supervised by the Spanish National Securities Market Commission (CNMV). Faraday has a decade-long track record in investing in innovative companies, with notable exits including Codigames, Habitissimo, and Signaturit. First Drop's investment strategy involves providing support and funding to early-stage startups, filling a crucial market need by focusing on pre-seed investments.

In its inaugural cohort, First Drop invested in four Spanish startups: Motoreto, a platform promoting sustainable mobility; Colibid, a fintech startup streamlining the mortgage application process; Banbu, a natural cosmetics firm specializing in sustainable products; and Rehand, a rehabilitation innovation company. These investments reflect First Drop's commitment to supporting ventures that align with the United Nations Sustainable Development Goals (SDGs).