# NGP Capital: portfolio, investments and team

> NGP Capital is a vc firm based in United States. 15 investments on record, 1 in the last 12 months, latest Mar 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/ngp-capital (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# NGP Capital

Last cheque observed Mar 2026; 15 cheques on record.

Email

Deploying now New fund $8.1M, Dec 2024 VC firm

Seed Series A Recurring B2B B2b2c

Follow NGP Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fngp-capital)

Deploying now

**13%** of best year **1** **cheques in 12 months**, 15 on record

Since the last cheque **242** days **00** hrs **00** min **00** sec

Median round **$35M** Cheque size, as they say **$5.0M – $10M** Rounds led **5 of 15** Sole investor **1 rounds** Mostly in **United States, 53%**

Pitch NGP Capital

## NGP Capital highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Series B and Series C: 69% of its rounds
- 03 Sole investor in 1 rounds, median $20M

## What they do

> NGP Capital are the venture capital investors that help exceptional founders turn their big ideas into companies that shape a better future. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $5.0M – $10M as they say
- **Stages:** Seed Series A
- **Sectors:** Recurring B2B B2b2c
- **Based in:** Palo Alto, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **15 appearances**

- **2026** 1 round
- **Mar** **[ArmorCode](https://millionrounds.com/company/armorcode)** Series B · US · Ventureburn **$16M** With 7 others
- **2025** 5 rounds
- **Sept** **[WorkFusion](https://millionrounds.com/company/workfusion)** Growth · US · Crunchbase News **$45M** With 18 others
- **Sept** **[Scintil Photonics](https://millionrounds.com/company/scintil-photonics)** Series B · FR · TechStartups **$58M** *Led*
- **Jul** **[NetBox Labs](https://millionrounds.com/company/netbox-labs)** Series B · US · TechStartups **$35M** *Led*
- **Feb** **[Skylo](https://millionrounds.com/company/skylo)** Growth · US · TechStartups **$30M** *Led*
- **Jan** **[Ati Motors](https://millionrounds.com/company/ati-motors)** Series B · IN · TechCrunch **$20M** *Led*
- **2024** 3 rounds
- **Dec** **[Anybotics](https://millionrounds.com/company/anybotics)** Series B · CH · TechCrunch **$60M** With 7 others
- **Dec** **[Tractian](https://millionrounds.com/company/tractian)** Series C · US · Crunchbase News **$120M** With 5 others
- **Nov** **[The Exploration Company](https://millionrounds.com/company/the-exploration-company)** Series B · FR · Crunchbase News **$160M** With 8 others
- **2022** 1 round
- **Sept** **[Scandit](https://millionrounds.com/company/scandit)** Series D · CH · Firms' own news pages **$150M** With 9 others
- **2019** 3 rounds
- **Aug** **[Platform9](https://millionrounds.com/company/platform9)** Series D · US · FinSMEs **$25M** *Led*
- **Aug** **[Scoop](https://millionrounds.com/company/scoop)** Series C · US · FinSMEs **$60M** With 7 others
- **Jun** **[Xiaolu Clinic](https://millionrounds.com/company/xiaolu-clinic)** CN · Voice **$20M** Sole investor
- **2018** 2 rounds
- **Dec** **[Celect](https://millionrounds.com/company/celect)** Series C · US · FinSMEs **$15M** With 2 others
- **Dec** **[NILT](https://millionrounds.com/company/nilt)** DK · Tech.eu **$7.2M** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **6 named**

BI **Bo Ilsoe** Managing Member i Form ADV

CB **Chad Bailey** Managing Member of the General Partner i Filing they signed

CN **Christian Noske** Board Member i Form ADV

MM **Monica Marie Nolan** Member / CFO i Form ADV

PJ **Paul J Asel** Managing Member i Form ADV

RC **Rohini Chakravarthy** Managing Member of the General Partner i Filing they signed

We also hold **27** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$1.9B** gross assets of its funds, 2 advisers combined Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** NGP Management Co. OY
- **SEC number:** CRD 330826

## What they claim to have backed

From their own portfolio page (on their website)

**1** of 2 we have independently watched raise

[Xona](https://millionrounds.com/company/xona) Red-dot

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$8.1M**

raised in Dec 2024

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A

Median round joined **$35M** the round, not its cheque Alone, median **$20M**

Led 5 of 15 rounds **33%**

- **Said size:** $5.0M – $10M
- **Sole investor:** 1 rounds
- **Last cheque:** Mar 2026

Rounds by stage said on their site

- Series B *6*
- Series C *3*
- Growth *2*
- Series D *2*
- Seed said *-*
- Series A said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) 2
- [Bpifrance](https://millionrounds.com/fund/bpifrance) 2
- [G2VP](https://millionrounds.com/fund/g2vp) 2
- [Next47](https://millionrounds.com/fund/next47) 2
- [Supernova Invest](https://millionrounds.com/fund/supernova-invest) 2
- [Swisscom Ventures](https://millionrounds.com/fund/swisscom-ventures) 2

**Pitching NGP Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as NGP Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Bessemer Venture Partners** VC firm **2** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**Bpifrance** Government **2** rounds together](https://millionrounds.com/fund/bpifrance)[**G2VP** VC firm **2** rounds together](https://millionrounds.com/fund/g2vp)[**Next47** VC firm **2** rounds together](https://millionrounds.com/fund/next47)[**Supernova Invest** VC firm **2** rounds together](https://millionrounds.com/fund/supernova-invest)[**Swisscom Ventures** Corporate VC **2** rounds together](https://millionrounds.com/fund/swisscom-ventures)[**Walden Catalyst** VC firm **2** rounds together](https://millionrounds.com/fund/walden-catalyst-ventures)[**Y Combinator** Accelerator **2** rounds together](https://millionrounds.com/fund/y-combinator)

## Recently backed

The latest companies NGP Capital put money into.

[**ArmorCode** $16M · Mar 2026](https://millionrounds.com/company/armorcode)[**WorkFusion** $45M · Sept 2025](https://millionrounds.com/company/workfusion)[**Scintil Photonics** $58M · Sept 2025](https://millionrounds.com/company/scintil-photonics)[**NetBox Labs** $35M · Jul 2025](https://millionrounds.com/company/netbox-labs)[**Skylo** $30M · Feb 2025](https://millionrounds.com/company/skylo)[**Anybotics** $60M · Dec 2024](https://millionrounds.com/company/anybotics)

## On podcasts

3 episodes naming NGP Capital in the title, and 1 more that mention it.

- [EU-Startups Podcast](https://millionrounds.com/podcasts/eu-startups) 8 May 2025 · 27 min Episode 116: Christian Noske: Partner at NGP Capital - Europe's Wake Up Moment With [Christian Noske](https://millionrounds.com/person/christian-noske) Mentions [NGP Capital](https://millionrounds.com/fund/ngp-capital) Apple PodcastsShow page
- [Startuprad.io](https://millionrounds.com/podcasts/startuprad) 12 Oct 2023 · 26 min From Berlin to Zurich: NGP Capital on DACH VC Funding Mentions [NGP Capital](https://millionrounds.com/fund/ngp-capital)[Christian Noske](https://millionrounds.com/person/christian-noske) Apple PodcastsShow page
- [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 21 Apr 2021 · 24 min Annika Sjöberg and Bo Ilsoe of NGP Capital talk about gender and fundraising [Interview special] With [Bo Ilsoe](https://millionrounds.com/person/bo-ilsoe) Mentions [NGP Capital](https://millionrounds.com/fund/ngp-capital) Apple PodcastsShow page

### Mentioned in

- [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 20 Jan 2022 · 21 min What’s the best place in Europe to start a business? Apple PodcastsShow page

## Quick answers about NGP Capital

### What does NGP Capital invest in?

NGP Capital invests most often at Series B and Series C (69% of the rounds on record), in sectors such as Recurring, B2B and B2b2c.

### How active is NGP Capital?

15 investments on record, 1 of them in the last 12 months, and it led 5. The most recent was in Mar 2026.

### What has NGP Capital invested in recently?

Its most recent investments on record: ArmorCode (Series B, Mar 2026), WorkFusion (Growth, Sept 2025) and Scintil Photonics (Series B, Sept 2025).

### How big are NGP Capital's cheques?

The median round it joins is $35M. It says it writes cheques of $5.0M to $10M.

### Does NGP Capital lead rounds?

Yes: it led 5 of its 15 investments on record (33%).

### Where does NGP Capital invest?

Most of the companies it backs are in the United States (53%), France (13%) and Switzerland (13%).

### Is NGP Capital investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does NGP Capital invest alongside?

Most often Bessemer Venture Partners (2 rounds together), Bpifrance (2 rounds together) and G2VP (2 rounds together).

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