# Rob Hayes
Rob Hayes is an American venture capital investor at [First Round Capital](https://www.edgepedia.org/first-round-capital), best known as the investor who led the firm's seed investment in Uber in 2010. He joined First Round as a Partner in 2006, opening the firm's San Francisco office, and moved to a Board Partner role in 2018, in which he no longer leads new investments but supports his existing companies and invests as an angel.[1](https://www.firstround.com/team/board-partners/rob-hayes) • [2](https://business.columbia.edu/insights/columbia-business/uber-investor) He appeared on the Forbes Midas List for eight consecutive years, from 2013 through 2020, climbing from #97 to #11.[3](https://fundraisingfox.com/people/rob-hayes-first-round-capital)
| Key fact | Detail |
|---|---|
| Role | Partner at First Round Capital 2006–2018 (opened San Francisco office); Board Partner since 2018[1](https://www.firstround.com/team/board-partners/rob-hayes) |
| Signature deal | Led First Round's ~$500,000 seed investment in Uber (2010) at a $4 million pre-money valuation[2](https://business.columbia.edu/insights/columbia-business/uber-investor) • [4](https://www.businessinsider.com/first-round-capital-ubers-first-investor-2014-1) |
| Uber outcome | First Round's initial and follow-on Uber investments worth about $2.5 billion at Uber's May 2019 IPO ($75.5 billion valuation)[4](https://www.businessinsider.com/first-round-capital-ubers-first-investor-2014-1) |
| Other led investments | Square, Mint.com, eero, Gnip, Planet Labs, TaskRabbit[1](https://www.firstround.com/team/board-partners/rob-hayes) • [2](https://business.columbia.edu/insights/columbia-business/uber-investor) |
| Midas List | Eight consecutive years 2013–2020; #97 (2013) to #11 (2020)[3](https://fundraisingfox.com/people/rob-hayes-first-round-capital) |
| Earlier career | First venture investor at Omidyar Network; earlier product manager for Palm OS at Palm[1](https://www.firstround.com/team/board-partners/rob-hayes) |
| Education | MBA, Columbia Business School, class of 1995[2](https://business.columbia.edu/insights/columbia-business/uber-investor) |
## Early career and education
Hayes earned his MBA at [Columbia Business School](https://www.edgepedia.org/columbia-business-school), class of 1995.[2](https://business.columbia.edu/insights/columbia-business/uber-investor) Before entering venture capital he worked at [Palm](https://www.edgepedia.org/palm-company), where he product-managed [Palm OS](https://www.edgepedia.org/palm-os) during the heyday of Palm products (the Palm III, Palm V, and Handspring Treo), started the company's corporate venture fund, and managed the strategic spinoff of PalmSource.[1](https://www.firstround.com/team/board-partners/rob-hayes)
His first venture role was as the first venture investor at Omidyar Network, the investment firm started by eBay founder [Pierre Omidyar](https://www.edgepedia.org/pierre-omidyar), where he invested mostly in early-stage [Web 2.0](https://www.edgepedia.org/web-2-0) companies.[1](https://www.firstround.com/team/board-partners/rob-hayes) • [5](https://venturebeat.com/business/web-20-investor-rob-hayes-joins-first-round-capital/) In 2006 he left Omidyar Network to join First Round Capital, based in San Francisco and giving a West Coast presence to the firm led by East Coast founder [Josh Kopelman](https://www.edgepedia.org/josh-kopelman).[1](https://www.firstround.com/team/board-partners/rob-hayes) • [5](https://venturebeat.com/business/web-20-investor-rob-hayes-joins-first-round-capital/)
## The Uber seed deal
In 2010, Hayes saw a cryptic tweet from [Garrett Camp](https://www.edgepedia.org/garrett-camp), the founder of [StumbleUpon](https://www.edgepedia.org/stumbleupon) (an early First Round investment), about a new transportation startup that was apparently "awesome."[2](https://business.columbia.edu/insights/columbia-business/uber-investor) He reached out, tried the service, and led First Round's investment in the seed round: Uber was seeking a $1 million seed round at a $4 million pre-money valuation, and First Round, as Uber's first institutional investor, committed about half a million dollars alongside individual investors including Napster co-founder [Shawn Fanning](https://www.edgepedia.org/shawn-fanning) and Mitch Kapor.[2](https://business.columbia.edu/insights/columbia-business/uber-investor) • [4](https://www.businessinsider.com/first-round-capital-ubers-first-investor-2014-1) Uber's half-dozen staffers, including Camp and co-founder Travis Kalanick, worked next door to Hayes's office in the period after the investment.[2](https://business.columbia.edu/insights/columbia-business/uber-investor)
## Returns and other investments
Uber went public in May 2019 at a $75.5 billion valuation, and First Round's initial and follow-on investments in Uber were worth about $2.5 billion at that point, according to [The Wall Street Journal](https://www.edgepedia.org/the-wall-street-journal).[4](https://www.businessinsider.com/first-round-capital-ubers-first-investor-2014-1) Hayes's personal realization from the deal is not a matter of public record from the sources retrieved here.
Uber was not his only successful early bet. In twelve years as a Partner, Hayes says he led a number of First Round's key investments: Uber, Square, Mint.com, eero, Gnip, and [Planet Labs](https://www.edgepedia.org/planet-labs).[1](https://www.firstround.com/team/board-partners/rob-hayes) Columbia Business School separately credits him with leading the firm's seed-stage investments in Mint, TaskRabbit, Planet, and Square.[2](https://business.columbia.edu/insights/columbia-business/uber-investor) His Midas List ranking rose steadily as these positions matured: #97 in 2013, #75 in 2014, #45 in 2015, #27 in 2016, #21 in 2017, #17 in 2018, #15 in 2019, and #11 in 2020.[3](https://fundraisingfox.com/people/rob-hayes-first-round-capital)
## Thesis, boards and public positions
Since becoming a Board Partner, he has served on company boards connected to First Round investments. Form D filings link board seats at [Odeko](https://www.edgepedia.org/odeko) ($49.5 million raise, filed January 2022) and Bowery ($22.7 million, June 2017).[3](https://fundraisingfox.com/people/rob-hayes-first-round-capital) His institutional trusteeships include Columbia Business School's Board of Overseers, which he joined after his Board Partner transition,[2](https://business.columbia.edu/insights/columbia-business/uber-investor) plus, per directory data, the [Philadelphia Museum of Art](https://www.edgepedia.org/philadelphia-museum-of-art) and The Noguchi Museum.[3](https://fundraisingfox.com/people/rob-hayes-first-round-capital)
## Recent developments
The main documented change since 2023 is a board seat at Barndoor AI, dated October 2024 onward in directory data.[3](https://fundraisingfox.com/people/rob-hayes-first-round-capital) Otherwise, he continued in his Board Partner role at First Round, supporting existing companies and angel investing, without new firm roles or exits, through September 2026.
## References
1. [Rob Hayes — First Round Capital team page](https://www.firstround.com/team/board-partners/rob-hayes)
2. [Uber Investor — Columbia Business School](https://business.columbia.edu/insights/columbia-business/uber-investor)
3. [Rob Hayes — Board Partner at First Round Capital — Fundraising Fox](https://fundraisingfox.com/people/rob-hayes-first-round-capital)
4. [How Rob Hayes and First Round Capital Became Uber's First Investor — Business Insider](https://www.businessinsider.com/first-round-capital-ubers-first-investor-2014-1)
5. [Web 2.0 investor Rob Hayes joins First Round Capital — VentureBeat](https://venturebeat.com/business/web-20-investor-rob-hayes-joins-first-round-capital/)
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*Topic: Encyclopedia › Society and history › Economics and business › Founders, operators, and investors › Venture and growth investors › United States venture since 1985 › Seed and early-stage partners*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license