Investor Lists

Investors that almost always lead

Updated 7 November 2026

Firms that led most of the rounds we have seen them in. A fund that leads by habit is a different conversation from one that only ever follows.

See all 298 →The top 25
298investors on the list+4 this week
629cheques in 12 months+84% against the market
$12Mmedian round they joined+50% against the market median
77%wrote a cheque in 12 months
100%have led a round

The Top 25

Ordered by rounds led, never by anything anyone paid for

Deploying now (22)

  1. 1Expedition Growth CapitalDeploying nowGrowth equity · United Kingdom13 of 14$22Mmedian roundOct 2026last seen
  2. 2EBRD VCDeploying nowGrowth equity · United Kingdom13$17Mmedian roundJul 2026last seen
  3. 3NATO Innovation Fund (NIF)Deploying nowVC firm · Netherlands10 of 16$17Mmedian roundSept 2026last seen
  4. 4Elbow BeachDeploying nowVC firm · United Kingdom10 of 11$2.7Mmedian roundOct 2026last seen
  5. 5RIVE Private InvestmentDeploying nowPrivate equity · France9 of 12$46Mmedian roundJun 2026last seen
  6. 6Centana Growth PartnersDeploying nowPrivate equity · United States8 of 12$33Mmedian roundApr 2026last seen
  7. 7Hadean VenturesDeploying nowPrivate equity · Norway8 of 11$26Mmedian roundSept 2026last seen
  8. 8Foundry Venture Capital 2016, L.PquietVC firm8 of 11$9Mmedian roundDec 2017last seen
  9. 9IAN Alpha FundDeploying nowVC firm8 of 10$3.9Mmedian roundOct 2026last seen
  10. 10Vensana CapitalDeploying nowVC firm · United States8 of 10$28Mmedian roundJul 2026last seen
  11. 11Empirical VenturesDeploying nowVC firm · United States8 of 9$4Mmedian roundOct 2026last seen
  12. 12Point72 Private InvestmentsDeploying nowGrowth equity8$73Mmedian roundAug 2026last seen
  13. 13National Reconstruction FundDeploying nowGrowth equity · Australia7 of 11$40Mmedian roundJun 2026last seen
  14. 144BIO CapitalDeploying nowVC firm · United Kingdom7 of 10$61Mmedian roundOct 2026last seen
  15. 15Marlin Equity PartnersDeploying nowPrivate equity · United States7 of 10$1.3Bmedian roundOct 2026last seen
  16. 16Seligman VenturesDeploying nowVC firm7 of 10$118Mmedian roundOct 2026last seen
  17. 17TX VenturesDeploying nowVC firm · Switzerland7 of 9$6.6Mmedian roundJun 2026last seen
  18. 1813books CapitalDeploying nowVC firm · United Kingdom7 of 8$12Mmedian roundNov 2026last seen
  19. 19Scaleup Europe FundDeploying nowGrowth equity · United States7 of 8$425Mmedian roundOct 2026last seen
  20. 20Gorilla Capital Fund IIIDeploying nowInvestment firm7 of 8-median roundOct 2026last seen
  21. 21GEF Capital PartnersDeploying nowPrivate equity · United States7$66Mmedian roundAug 2026last seen
  22. 22Cento VenturesDeploying nowVC firm · Singapore6 of 10$4.4Mmedian roundOct 2026last seen
  23. 23Frazier Life SciencesDeploying nowVC firm · United States6 of 10$123Mmedian roundNov 2026last seen
  24. 24aMoonquietGrowth equity6 of 10$28Mmedian roundJul 2025last seen
  25. 25Element VenturesquietVC firm · United Kingdom6 of 9$13Mmedian roundMar 2023last seen
273 more on this list

All 298 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

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Quick answers about investors that almost always lead

Who are the most active investors that almost always lead?

By rounds led, the most active are Expedition Growth Capital, EBRD VC, NATO Innovation Fund (NIF), Elbow Beach and RIVE Private Investment.

How many investors that almost always lead are there?

298 are on record. 77% made an investment in the last 12 months and 100% have led a round.

Which stages do investors that almost always lead back?

Of the rounds with a named stage in the last 12 months, mostly Series A (28%) and Seed (28%).

How big are the rounds investors that almost always lead join?

The typical (median) round among the leading investors here is $28M.

Which sectors do investors that almost always lead back most?

In the last 12 months, mostly AI, Fintech and Healthcare.

Which investors that almost always lead lead the most rounds?

Expedition Growth Capital (13 led), EBRD VC (13 led) and NATO Innovation Fund (NIF) (10 led).

Where are investors that almost always lead based?

Among the most active, most are based in the United States (7), the United Kingdom (6) and the Netherlands (1).

What have investors that almost always lead invested in recently?

Recent rounds include aSand.ai (Series A, Nov 2026, with Wangsu Science & Technology), Foozi (Pre-seed, Nov 2026, with Quartzo Capital) and Harbinger (Series D+, Nov 2026, with Capricorn's Technology Impact Fund).

Built from the rounds we watched, refreshed every night. How we count · Report a correction