First In, a mission-driven venture capital firm headquartered in Hobe Sound, Florida, has appointed Rebecca Gevalt as its new General Partner.
The appointment reflects the firm’s continued focus on expanding its investment capabilities in security technologies while strengthening support for companies advancing from early development to large-scale growth.
In her new position, Gevalt will play a key role in shaping the firm’s venture growth-stage investment strategy.
She will work closely with portfolio companies and founders, helping them navigate the transition from early innovation to sustained commercial expansion.
Veteran National Security Investor Joins the Firm
Gevalt brings more than 20 years of experience spanning venture capital, government service, and technology commercialization within the national security sector.
Her background combines operational expertise with a deep understanding of how emerging technologies can be deployed to meet federal government needs.
She began her career at the Central Intelligence Agency (CIA), where she worked on counterterrorism operations before moving into venture investing with In-Q-Tel, the investment organization supporting the U.S. intelligence community.
During her time there, she focused on identifying innovative startups and facilitating the adoption of advanced technologies for national security applications.
Extensive Experience Supporting Federal Technology Companies
After her government service, Gevalt joined Dcode Capital, where she helped establish and manage what became the nation’s largest accelerator program dedicated to helping technology companies enter the federal marketplace.
The initiative supported more than 270 businesses seeking to launch or expand their government operations, with over 40 participants later reaching unicorn status.
She later founded Dcode’s venture investment business, serving as managing partner and concentrating on later-stage technology companies with proven commercial success and strong potential to serve U.S. government agencies.
Academic Background and Industry Expertise
Gevalt earned a Bachelor of Science degree from Tulane University, where she attended on a full academic scholarship.
Her combination of intelligence, venture investing, and startup scaling experience is expected to further strengthen First In’s investment leadership as it continues to back companies developing critical technologies.
First In Continues Investing Through Its Third Fund
Led by Managing Partner Renny McPherson and General Partner Arthur Karell, First In is actively deploying capital from its third investment vehicle, a licensed Small Business Investment Company Critical Technologies (SBIC-CT) fund.
The venture firm has invested more than $100 million in growth-stage companies across the security and defense technology sectors.
Its portfolio includes companies such as Anduril, Castelion, Antithesis, Adlumin, which was acquired by N-able, and Smack Technologies, reflecting the firm’s emphasis on supporting businesses developing technologies with national security and critical infrastructure applications.
