# Corporate VCs backing B2B (2026 list)

> 41 corporate VCs backing B2B, 90% active in the last 12 months. Led by Intel Capital, Google Ventures, Salesforce Ventures. Ranked by what they funded.

Source: https://millionrounds.com/lists/corporate-vcs-b2b (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Corporate VCs backing B2B

Updated 7 November 2026

Corporate VCs we have observed in a B2B round in the last two years.

[See all 41 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-b2b)The top 25

**41** investors on the list *-1* this week

**639** cheques in 12 months *-13%* against the market

**$15M** median round they joined *+84%* against the market median

**90%** wrote a cheque in 12 months

**54%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Intel Capital](https://millionrounds.com/fund/intel-capital) *Deploying now* Corporate VC · United States **1,123** **$22M** median round **Oct 2026** last seen
- 2 [Google Ventures](https://millionrounds.com/fund/gv) *Deploying now* Corporate VC · United States **884** **$38M** median round **Oct 2026** last seen
- 3 [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) *Deploying now* Corporate VC · United States **649** **$26M** median round **Nov 2026** last seen
- 4 [Coinbase Ventures](https://millionrounds.com/fund/coinbase) *Deploying now* Corporate VC · United States **465** **$9.8M** median round **Nov 2026** last seen
- 5 [Endeavor Catalyst](https://millionrounds.com/fund/endeavor-catalyst) *Deploying now* Corporate VC · United States **318** **$30M** median round **Oct 2026** last seen
- 6 [Z Venture Capital](https://millionrounds.com/fund/z-venture-capital) *Deploying now* Corporate VC · Japan **200** **$10M** median round **Oct 2026** last seen
- 7 [SoftBank BB Corp](https://millionrounds.com/fund/softbank) *Deploying now* Corporate VC · Japan **158** **$159M** median round **Oct 2026** last seen
- 8 [Deutsche Bank](https://millionrounds.com/fund/deutsche-bank) *Deploying now* Corporate VC · Germany **144** **$175M** median round **Nov 2026** last seen
- 9 [M Ventures](https://millionrounds.com/fund/m-ventures) *Deploying now* Corporate VC · Switzerland **143** **$15M** median round **Sept 2026** last seen
- 10 [Sony Innovation Fund](https://millionrounds.com/fund/sony-innovation-fund) *Deploying now* Corporate VC · Japan **142** **$10M** median round **Sept 2026** last seen
- 11 [Visa](https://millionrounds.com/fund/visa) *Deploying now* Corporate VC · United States **123** **$7.5M** median round **Oct 2026** last seen
- 12 [Rabobank](https://millionrounds.com/fund/rabobank) *Deploying now* Corporate VC · Netherlands **122** **$3.2M** median round **Nov 2026** last seen
- 13 [Wells Fargo](https://millionrounds.com/fund/wells-fargo-bank-office) *Deploying now* Corporate VC · United States **107** **$39M** median round **Sept 2026** last seen
- 14 [Endeavor](https://millionrounds.com/fund/endeavor) *Deploying now* Corporate VC · United States **106** **$25M** median round **Sept 2026** last seen
- 15 [Microsoft](https://millionrounds.com/fund/microsoft) *Deploying now* Corporate VC · United States **105** **$50M** median round **Sept 2026** last seen
- 16 [MasterCard](https://millionrounds.com/fund/mastercard) *Deploying now* Corporate VC · United States **101** **$3.9M** median round **Nov 2026** last seen
- 17 [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha) *Deploying now* Corporate VC · India **79** **$2.5M** median round **Nov 2026** last seen
- 18 [Hitachi Ventures](https://millionrounds.com/fund/hitachi-ventures) *Deploying now* Corporate VC · Germany **59** **$31M** median round **Oct 2026** last seen
- 19 [ABN AMRO Fund](https://millionrounds.com/fund/abn-amro-clearing) *Deploying now* Corporate VC · Netherlands **54** **$185M** median round **Nov 2026** last seen
- 20 [Orange Ventures](https://millionrounds.com/fund/orange-ventures) *Deploying now* Corporate VC · France **53** **$11M** median round **Sept 2026** last seen
- 21 [Munich Re Ventures](https://millionrounds.com/fund/munich-re-ventures) *Deploying now* Corporate VC · United States **46** **$23M** median round **Nov 2026** last seen
- 22 [PayPal Ventures](https://millionrounds.com/fund/paypal-ventures) *Deploying now* Corporate VC · United States **34** **$24M** median round **Mar 2026** last seen
- 23 [eBay](https://millionrounds.com/fund/ebay) *Deploying now* Corporate VC · United States **32** **$25M** median round **Jul 2026** last seen
- 24 [Workday Ventures](https://millionrounds.com/fund/workday-ventures) *Deploying now* Corporate VC · United States **27** **$30M** median round **Jun 2026** last seen
- 25 [IBK Capital](https://millionrounds.com/fund/ibk-capital) *Deploying now* Corporate VC · South Korea **25** **$6.4M** median round **Feb 2026** last seen

**16 more on this list**

All 41 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-b2b)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Coinbase Ventures](https://millionrounds.com/fund/coinbase)
- **5** Nov **[Pure Data Centres Group](https://millionrounds.com/company/pure-data-centres-group)** Debt · $1.9B *With* [ABN AMRO Fund](https://millionrounds.com/fund/abn-amro-clearing)
- **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [MasterCard](https://millionrounds.com/fund/mastercard)
- **5** Nov **[Return](https://millionrounds.com/company/return)** Debt · $936M *With* [Deutsche Bank](https://millionrounds.com/fund/deutsche-bank)
- **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *With* [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures)
- **5** Nov **[altM](https://millionrounds.com/company/altm)** Series A · $10M *Led by* [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha)

## Stages This Year

597 rounds

- Series A **19%**
- Venture **15%**
- Seed **14%**
- Debt **12%**
- Series B **11%**
- Other **30%**

## What They Backed

Sectors, last 12 months

- AI **229**
- Fintech **80**
- Big Data & Analytics **49**
- Web3 & Crypto **43**
- Financial Services **38**
- Energy **33**

## Cheques by Quarter

Led Joined

187 Q1 25

184 Q2 25

201 Q3 25

208 Q4 25

219 Q1 26

163 Q2 26

143 Q3 26

46 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai)
- [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech)
- [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data)
- [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech)
- [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics)
- [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction)
- [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy)
- [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai)
- [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in b2b software and saas

- Lean B2B: Build Products Businesses Want Étienne Garbugli · 2014 4.16 from 249 ratings on Goodreads B2B software and SaaS About the book www.leanb2bbook.com « This is a must read for every B2B entrepreneur, SaaS creator or consultant and business school student. It's the kind of book you don't read once, you go back to it on a regular basis. » - Carmen Gerea, CEO & Co-founder, UsabilityChefs Lean B2B helps… On AmazonListen on Audible
- The Pricing Roadmap: How to Design B2B SaaS Pricing Models That Your Customers Will Love Ulrik Lehrskov-Schmidt · 2023 4.43 from 207 ratings on Goodreads B2B software and SaaS About the book "The definitive resource on SaaS pricing, I absolutely can not recommend this book enough." Viktor Heide, COO of Contractbook.com, Forbes "30 under 30" A foolproof method to achieve skyrocketing sales, growth, and profits for your software as a service (SaaS) product starts… On AmazonListen on Audible
- Integrity: The Courage to Meet the Demands of Reality Henry Cloud · 2006 4.22 from 3,393 ratings on Goodreads B2B software and SaaS About the book Integrity. It is more than simple honesty. It's the key to success. A person with integrity has the -- often rare -- ability to pull everything together, to make it all happen no matter how challenging the circumstances. Drawing on experiences from his work with Fortune 500… On AmazonListen on Audible
- Blueprints for a SaaS Sales Organization by Jacco vanderKooij Jacco van der Kooij · 2015 4.33 from 324 ratings on Goodreads B2B software and SaaS About the book Because of their very nature, SaaS companies live and die on revenue growth. And once the service is ready there is a very small window in which to scale. Missing that window is the difference between massive success and mediocrity. With such high stakes, it is crucial to get a… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&model=b2b_software).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about corporate VCs backing B2B

### Who are the most active corporate VCs backing B2B?

By cheques observed, the most active are Intel Capital, Google Ventures, Salesforce Ventures, Coinbase Ventures and Endeavor Catalyst.

### How many corporate VCs backing B2B are there?

41 are on record. 90% made an investment in the last 12 months and 54% have led a round.

### Which stages do corporate VCs backing B2B back?

Of the rounds with a named stage in the last 12 months, mostly Series A (24%) and Seed (18%).

### How big are the rounds corporate VCs backing B2B join?

The typical (median) round among the leading investors here is $24M.

### Which sectors do corporate VCs backing B2B back most?

In the last 12 months, mostly AI, Fintech and Big Data & Analytics.

### Which corporate VCs backing B2B lead the most rounds?

Google Ventures (33 led), SoftBank BB Corp (23 led) and Intel Capital (19 led).

### Where are corporate VCs backing B2B based?

Among the most active, most are based in the United States (14), Japan (3) and Germany (2).

### What have corporate VCs backing B2B invested in recently?

Recent rounds include Soter Insure (Series B, Nov 2026, with Coinbase Ventures), Pure Data Centres Group (Debt, Nov 2026, with ABN AMRO Fund) and firmly (Series A, Nov 2026, with MasterCard).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)