First Leaf Capital

First Leaf Capital is a venture capital firm based in Champaign, Illinois, founded in 2017. The firm invests in early-stage startups (from first-money-in to Series A), makes loans to small business owners, and engages in micro-private-equity transactions. It is backed by capital from the Mark Aardsma family office and its institutional fund, FLC II. The firm primarily focuses on companies in Central Illinois and the Midwest, with an interest in hard-to-imitate technology, SaaS, and businesses with a positive impact. They typically do not invest in rounds larger than $5 million for their initial investment.