# T. Rowe Price: portfolio, investments and team

> T. Rowe Price is a private equity based in United States. 131 investments on record, 19 in the last 12 months, latest Oct 2026.

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

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

# T. Rowe Price

Last cheque observed Oct 2026; 131 cheques on record.

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Deploying now New fund $117M, Sept 2026 Private equity

Buyout Growth Seed Mobile Apps Sales

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Deploying now

**100%** of best year **19** **cheques in 12 months**, 131 on record

Since the last cheque **12** days **00** hrs **00** min **00** sec

Median round **$400M** Rounds led **9 of 131** Sole investor **9 rounds** Exits **10 from the portfolio** Mostly in **United States, 83%**

Pitch T. Rowe Price

## T. Rowe Price highlights

- 01 19 cheques in the last 12 months
- 02 Mostly Series D and Growth: 52% of its rounds
- 03 Sole investor in 9 rounds, median $35M
- 04 10 exits from the portfolio

## What they do

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Buyout Growth Seed Series A
- **Sectors:** Mobile Apps Sales
- **Based in:** Baltimore, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **131 appearances**

- **2026** 16 rounds
- **Oct** **[Tenstorrent](https://millionrounds.com/company/tenstorrent)** Series E · US · BetaKit **$1.5B** With 16 others
- **Oct** **[Ramp](https://millionrounds.com/company/ramp)** Growth · US · AI Funding Tracker **$1.9B** With 24 others
- **Oct** **[Waymo](https://millionrounds.com/company/waymo)** Debt · US · Firms' own news pages **$5.0B** With 12 others
- **Sept** **[Temporal](https://millionrounds.com/company/temporal)** Series E · US · Crunchbase News **$550M** With 11 others
- **Sept** **[Cognition](https://millionrounds.com/company/cognition)** Series E · US · TechCrunch **$2.0B** With 18 others
- **Aug** **[Form Energy](https://millionrounds.com/company/form-energy)** Series G · US · TechCrunch **$750M** *Led*
- **Aug** **[Hadrian](https://millionrounds.com/company/hadrian)** Growth · US · Crunchbase News **$1.4B** With 16 others
- **Jul** **[AdvanCell](https://millionrounds.com/company/advancell)** Series D · AU · QRM Capital **$315M** With 16 others
- **Jul** **[SambaNova Systems](https://millionrounds.com/company/sambanova-systems)** Growth · US · TechCrunch **$1.0B** With 15 others
- **Jun** **[Airwallex](https://millionrounds.com/company/airwallex)** Series H · SG · Startup Daily **$460M** With 8 others
- **May** **[Ramp](https://millionrounds.com/company/ramp)** Growth · US · TechCrunch **$750M** With 24 others
- **Apr** **[SiFive](https://millionrounds.com/company/sifive)** Growth · US · Crunchbase News **$400M** With 10 others
- **Apr** **[Cross River Bank](https://millionrounds.com/company/cross-river-bank)** US · Ventureburn **$50M** Sole investor
- **Mar** **[OpenAI](https://millionrounds.com/company/openai)** Growth · US · Crunchbase News **$110B** *Led*
- **Feb** **[Waymo](https://millionrounds.com/company/waymo)** Series D · US · Crunchbase News **$16B** With 16 others
- **Jan** **[ClickHouse](https://millionrounds.com/company/clickhouse)** Growth · US · TechCrunch **$400M** With 10 others
- **2025** 15 rounds
- **Dec** **[Airwallex](https://millionrounds.com/company/airwallex)** Series G · AU · TechStartups **$330M** With 11 others
- **Dec** **[Databricks](https://millionrounds.com/company/databricks)** Growth · US · Crunchbase News **$5.0B** With 25 others
- **Nov** **[Revolut](https://millionrounds.com/company/revolut)** GB · Crunchbase News **Undisclosed** With 10 others
- **Oct** **[Bending Spoons](https://millionrounds.com/company/bending-spoons)** Growth · IT · Silicon Canals **$710M** *Led*
- **Oct** **[Crusoe](https://millionrounds.com/company/crusoe)** Growth · US · TechStartups **$1.4B** With 8 others
- **Sept** **[Galvanize Therapeutics, Inc](https://millionrounds.com/company/galvanize-therapeutics-inc)** Series C · US · Elevage Medical Technologies **$100M** With 10 others
- **Sept** **[Anthropic](https://millionrounds.com/company/anthropic)** Series F · US · Crunchbase News **$13B** With 21 others
- **Aug** **[Nuro](https://millionrounds.com/company/nuro)** Series E · US · Crunchbase News **$203M** With 10 others
- **Aug** **[Ramp](https://millionrounds.com/company/ramp)** Growth · US · Crunchbase News **$500M** With 12 others
- **Aug** **[OpenAI](https://millionrounds.com/company/openai)** US · TechCrunch **$8.3B** With 12 others
- **Jul** **[iCapital](https://millionrounds.com/company/icapital)** US · Crunchbase News **$820M** *Led*
- **Jul** **[MapLight Therapeutics](https://millionrounds.com/company/maplight-therapeutics)** Series D · US · Avego Management **$373M** With 8 others
- **May** **[Stash](https://millionrounds.com/company/stash)** Growth · US · AlleyWatch **$146M** With 7 others
- **Apr** **[Nuro](https://millionrounds.com/company/nuro)** Series E · US · Crunchbase News **$106M** With 4 others
- **Jan** **[KoBold Metals](https://millionrounds.com/company/kobold-metals)** Series C · US · TechCrunch **$537M** *Led*
- **2024** 3 rounds
- **Nov** **[Waymo](https://millionrounds.com/company/waymo)** Series C · US · TechCrunch **$5.6B** With 6 others
- **Oct** **[Lightmatter](https://millionrounds.com/company/lightmatter)** Series D · US · Crunchbase News **$400M** *Led*
- **Oct** **[Form Energy](https://millionrounds.com/company/form-energy)** Growth · US · Crunchbase News **$405M** *Led*
- **2019** 12 rounds
- **Dec** **[Seer](https://millionrounds.com/company/seer)** Series D · US · FinSMEs **$55M** With 1 other
- **Dec** **[One97](https://millionrounds.com/company/one97)** IN · Inc42 **$670M** With 2 others
- **Dec** **[Vroom](https://millionrounds.com/company/vroom)** Series H · US · FinSMEs **$245M** With 3 others
- **Nov** **[Paytm](https://millionrounds.com/company/paytm)** IN · Crunchbase News **$1.0B** *Led*
- **Oct** **[Databricks](https://millionrounds.com/company/databricks)** Series F · US · TechCrunch **$400M** With 4 others
- **Jul** **[Freenome](https://millionrounds.com/company/freenome)** Series B · US · FinSMEs **$160M** With 11 others

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 **24 named**

AB **Adam B. Kertzner** Chairman, Chief Executive Officer & Trustee i Filing they signed

AM **Agne Miller** Director i Filing they signed

AM **Antoine Madelpech** Head of EMEA Fund Administration & Accounting i Filing they signed

AH **Arif Husain** Director i Form ADV

CH **Carolyn Hoi Che Chu** Director i Form ADV

CG **Chit George Chow** Director i Form ADV

CM **Christine Marie Johnson** Director i Form ADV

CM **Christine Morgan** Deputy General Counsel i Filing they signed

CT **Christine To** Director i Form ADV

CC **Christopher Cuddy Newman** Director/President i Form ADV

CM **Craig Michael Gross** Director i Form ADV

DH **Darren Hall** Director i Form ADV

DR **David Raymond Oestreicher** Mr. Oestreicher is the Director, Vice President & Secretary of the Investment Manager of the Fund. i Filing they signed

DE **Denise Elisabeth Thomas** Director i Form ADV

DC **Dino Capasso** Executive Officer i Filing they signed

EA **Eitan Arbeter** Trustee i Filing they signed

EO **Elsie Oi Sze Chan** Director i Form ADV

EH **Emma Hilary Beal** Director i Form ADV

EL **Eric Lanoue Veiel** Director i Filing they signed

ES **Ernest Szehang Yeung** Director i Form ADV

GA **Gavin Anton Hayes** Director i Form ADV

GW **Gerard Waldt** Chief Financial Officer i Filing they signed

HW **Hiroshi Watanabe** Director i Form ADV

JD **Jen Dardis** President of the General Partner i Filing they signed

We also hold **74** 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

**$2776B** assets it manages, 9 advisers combined Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** T. ROWE Price Australia Limited
- **SEC number:** CRD 105496

Funds on its Form ADV

**76** private funds, **$20B** in gross assets · filed Nov 2024

U.s. adviser/affiliate provi **42** Hedge **27** Private equity **4**

- T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund *U.s. adviser/affiliate provi* 141 investors $3.6B
- T. Rowe Price Funds SICAV - US Smaller Companies Equity Fund *U.s. adviser/affiliate provi* 121 investors $2.8B
- T. Rowe Price Funds SICAV - US Large CAP Growth Equity Fund *U.s. adviser/affiliate provi* 114 investors $2.3B
- M1782 *Family office investment veh* 162 investors $2.2B
- T. Rowe Price Funds SICAV - U.S. Large CAP Value Equity Fund *U.s. adviser/affiliate provi* 68 investors $804M
- T. Rowe Price Funds SICAV - US Blue CHIP Equity Fund *U.s. adviser/affiliate provi* 64 investors $670M
- T. Rowe Price Funds SICAV - U.S. Equity Fund *U.s. adviser/affiliate provi* 39 investors $602M
- T. Rowe Price Funds SICAV - Emerging Markets Equity Fund *U.s. adviser/affiliate provi* 57 investors $567M
- T. Rowe Price Funds SICAV - Global Technology Equity Fund *U.s. adviser/affiliate provi* 70 investors $552M
- T. Rowe Price Funds SICAV - Global Value Equity Fund *U.s. adviser/affiliate provi* 42 investors $525M

And 66 more on the filing.

## Exits from the portfolio

Companies it backed that were later bought or listed **10 in all**

**[Flipkart](https://millionrounds.com/company/flipkart)** Bought by [Ebay](https://millionrounds.com/fund/ebay) **Undisclosed** Aug 2017

**[TrialPay](https://millionrounds.com/company/trialpay)** Bought by [Visa](https://millionrounds.com/fund/visa) **Undisclosed** Feb 2015

**[Yub](https://millionrounds.com/company/yub)** Bought by Coupons.com **$30M** Dec 2013

**[Twitter](https://millionrounds.com/company/twitter)** Listed **$1.8B** Nov 2013

**[Portola Pharmaceuticals](https://millionrounds.com/company/portola-pharmaceuticals)** Listed **$100M** May 2013

**[Workday](https://millionrounds.com/company/workday)** Listed **Undisclosed** Oct 2012

**[TESARO](https://millionrounds.com/company/tesaro)** Listed **Undisclosed** Mar 2012

**[Zynga](https://millionrounds.com/company/zynga)** Listed **Undisclosed** Dec 2011

**[ObjectFX](https://millionrounds.com/company/objectfx)** Bought by TransVoyant **Undisclosed** Aug 2011

**[Slide](https://millionrounds.com/company/slide)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **$182M** Aug 2010

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$117M**

raised in Sept 2026

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

## The cheque

Buyout Growth Seed

Median round joined **$400M** the round, not its cheque Alone, median **$35M**

Led 9 of 131 rounds **7%**

- **Sole investor:** 9 rounds
- **Last cheque:** Oct 2026
- **Exits:** 10 from the portfolio

Rounds by stage said on their site

- Series D *24*
- Growth said *21*
- Series C *15*
- Series E *14*
- Series F *13*
- Buyout said *-*
- Seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Fidelity](https://millionrounds.com/fund/fidelity) 27
- [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management) 20
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 19
- [Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management) 15
- [Greylock](https://millionrounds.com/fund/greylock-partners) 12
- [Coatue](https://millionrounds.com/fund/coatue-management) 11

**Pitching T. Rowe Price?** 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 T. Rowe Price. A count of rooms they were both in, not a relationship either has claimed.

[**Fidelity** VC firm **27** rounds together](https://millionrounds.com/fund/fidelity)[**Tiger Global Management** VC firm **20** rounds together](https://millionrounds.com/fund/tiger-global-management)[**Andreessen Horowitz** VC firm **19** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Morgan Stanley Investment Management** Private equity **15** rounds together](https://millionrounds.com/fund/morgan-stanley-investment-management)[**Greylock** VC firm **12** rounds together](https://millionrounds.com/fund/greylock-partners)[**Coatue** VC firm **11** rounds together](https://millionrounds.com/fund/coatue-management)[**General Catalyst** VC firm **11** rounds together](https://millionrounds.com/fund/general-catalyst)[**Index Ventures** VC firm **11** rounds together](https://millionrounds.com/fund/index-ventures)[**Sequoia Capital** VC firm **11** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Wellington Management** VC firm **11** rounds together](https://millionrounds.com/fund/wellington-management)[**Dragoneer Investment** Private equity **10** rounds together](https://millionrounds.com/fund/dragoneer-investment-group)[**Lightspeed Venture Partners** VC firm **10** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)

## Recently backed

The latest companies T. Rowe Price put money into.

[**Tenstorrent** $1.5B · Oct 2026](https://millionrounds.com/company/tenstorrent)[**Ramp** $1.9B · Oct 2026](https://millionrounds.com/company/ramp)[**Waymo** $5.0B · Oct 2026](https://millionrounds.com/company/waymo)[**Temporal** $550M · Sept 2026](https://millionrounds.com/company/temporal)[**Cognition** $2.0B · Sept 2026](https://millionrounds.com/company/cognition)[**Form Energy** $750M · Aug 2026](https://millionrounds.com/company/form-energy)

## Quick answers about T. Rowe Price

### What does T. Rowe Price invest in?

T. Rowe Price invests most often at Series D and Growth (52% of the rounds on record), in sectors such as Mobile Apps and Sales.

### How active is T. Rowe Price?

131 investments on record, 19 of them in the last 12 months, and it led 9. The most recent was in Oct 2026.

### What has T. Rowe Price invested in recently?

Its most recent investments on record: Tenstorrent (Series E, Oct 2026), Ramp (Growth, Oct 2026) and Waymo (Debt, Oct 2026).

### How big are T. Rowe Price's cheques?

The median round it joins is $400M.

### Does T. Rowe Price lead rounds?

Sometimes: it led 9 of its 131 investments on record (7%).

### Where does T. Rowe Price invest?

Most of the companies it backs are in the United States (83%), Australia (5%) and India (5%).

### Is T. Rowe Price investing now?

Yes: it is actively investing, with 19 investments in the last 12 months.

### Who does T. Rowe Price invest alongside?

Most often Fidelity (27 rounds together), Tiger Global Management (20 rounds together) and Andreessen Horowitz (19 rounds together).

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