# D2C lead investors (2026 list) > 25 D2C lead investors, 100% active in the last 12 months. Led by OrbiMed, Blume Ventures, 3one4 Capital. Ranked by what they funded. Source: https://millionrounds.com/lists/d2c-lead-investors (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # D2C lead investors Updated 7 November 2026 Firms we have watched lead a round raised by a D2C company in the last two years. Leading is rarer than taking part, and it is the role a founder most needs filled. [See all 25 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fd2c-lead-investors)The top 25 **25** investors on the list *+4* this week **158** cheques in 12 months *+18%* against the market **$10M** median round they joined *+25%* against the market median **100%** wrote a cheque in 12 months **100%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [OrbiMed](https://millionrounds.com/fund/orbimed) *Deploying now* Private equity · United States **447** **$71M** median round **Oct 2026** last seen - 2 [Blume Ventures](https://millionrounds.com/fund/blume-ventures) *Deploying now* VC firm · India **225** **$5M** median round **Nov 2026** last seen - 3 [3one4 Capital](https://millionrounds.com/fund/3one4-capital) *Deploying now* VC firm · India **92** **$6.2M** median round **Oct 2026** last seen - 4 [Iconiq Capital](https://millionrounds.com/fund/iconiq-capital-3) *Deploying now* Growth equity · Sri Lanka **87** **$75M** median round **Sept 2026** last seen - 5 [Saama Capital](https://millionrounds.com/fund/saama-capital) *Deploying now* VC firm · India **28** **$2.5M** median round **Nov 2026** last seen - 6 [Anicut Capital](https://millionrounds.com/fund/anicut-capital) *Deploying now* VC firm · India **8** **$13M** median round **Oct 2026** last seen - 7 [Vertex Growth Fund](https://millionrounds.com/fund/vertex-growth-fund) *Deploying now* VC firm · Singapore **7** **$49M** median round **Oct 2026** last seen - 8 [Beltone Venture Capital](https://millionrounds.com/fund/beltone-venture-capital) *Deploying now* VC firm **7** **$9M** median round **Jul 2026** last seen - 9 [sauce.vc](https://millionrounds.com/fund/sauce) *Deploying now* VC firm · India **5** **$1.7M** median round **Nov 2026** last seen - 10 [IAN Angel Fund](https://millionrounds.com/fund/ian-angel-fund) *Deploying now* VC firm **5** **$421K** median round **Aug 2026** last seen - 11 [Multiples](https://millionrounds.com/fund/multiples-alternate-asset-management) *Deploying now* Private equity · India **4** **$125M** median round **Nov 2026** last seen - 12 [Smedvig Ventures](https://millionrounds.com/fund/smedvig-ventures) *Deploying now* VC firm · United Kingdom **4** **$9.8M** median round **Sept 2026** last seen - 13 [Niveshaay](https://millionrounds.com/fund/niveshaay) *Deploying now* Advisor · India **3** **$15M** median round **Sept 2026** last seen - 14 [Bharat Value Fund](https://millionrounds.com/fund/bharat-value-fund) *Deploying now* Growth equity **3** **$42M** median round **Oct 2026** last seen - 15 [LGVP](https://millionrounds.com/fund/lgvp) *Deploying now* Growth equity **3** **$35M** median round **Oct 2026** last seen - 16 [BeyondSeed](https://millionrounds.com/fund/beyondseed) *Deploying now* VC firm · Singapore **2** **$270K** median round **Oct 2026** last seen - 17 [Eternal Capital](https://millionrounds.com/fund/sadev-ventures) *Deploying now* VC firm · India **2** **$1.1M** median round **Oct 2026** last seen - 18 [RPSG Capital Ventures](https://millionrounds.com/fund/rpsg-capital-ventures) *Deploying now* VC firm · India **2** **$10M** median round **Nov 2026** last seen - 19 [Trident Growth Partners](https://millionrounds.com/fund/trident-growth-partners) *Deploying now* VC firm · United States **2** **$19M** median round **Oct 2026** last seen - 20 [Axiom Asia Private Capital](https://millionrounds.com/fund/axiom-asia-private-capital) *Deploying now* Fund of funds · Singapore **1** **$35M** median round **Oct 2026** last seen - 21 [Huddle Ventures](https://millionrounds.com/fund/huddle-ventures) *Deploying now* VC firm · India **1** **$2.3M** median round **Oct 2026** last seen - 22 [OTP Ventures](https://millionrounds.com/fund/otp-ventures) *Deploying now* VC firm · India **1** **$2.3M** median round **Oct 2026** last seen - 23 [Xponentia Capital](https://millionrounds.com/fund/xponentia-capital) *Deploying now* Private equity · India **1** **$35M** median round **Oct 2026** last seen - 24 [The Wealth Company Alternates](https://millionrounds.com/fund/the-wealth-company-alternates) *Deploying now* Growth equity **1** **$42M** median round **Oct 2026** last seen - 25 [Wipro Consumer Care Ventures](https://millionrounds.com/fund/wipro-consumer-care-ventures) *Deploying now* VC firm **1** **$10M** median round **Nov 2026** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **3** Nov **[Nuuk](https://millionrounds.com/company/nuuk)** $10M *Led by* [RPSG Capital Ventures](https://millionrounds.com/fund/rpsg-capital-ventures) - **3** Nov **[Solgram](https://millionrounds.com/company/solgram)** Pre-seed · $1M *Led by* [Saama Capital](https://millionrounds.com/fund/saama-capital) - **3** Nov **[GIVA](https://millionrounds.com/company/giva)** Other · $100M *Led by* [Multiples](https://millionrounds.com/fund/multiples-alternate-asset-management) - **3** Nov **[PowerUp Money](https://millionrounds.com/company/powerup-money)** Other · $10M *With* [Blume Ventures](https://millionrounds.com/fund/blume-ventures) - **2** Nov **[Hyeglo Beauty](https://millionrounds.com/company/hyeglo-beauty)** Seed · $738K *Led by* [sauce.vc](https://millionrounds.com/fund/sauce) - **31** Oct **[CapGrid](https://millionrounds.com/company/capgrid)** Series B · $5.3M *With* [Anicut Capital](https://millionrounds.com/fund/anicut-capital) ## Stages This Year 148 rounds - Other **22%** - Series A **18%** - Seed **18%** - Series B **10%** - Series C **10%** - Other **22%** ## What They Backed Sectors, last 12 months - Biotech **31** - AI **28** - Healthcare **25** - D2C **17** - E-commerce **13** - Pharma **13** ## Cheques by Quarter Led Joined 31 Q1 25 24 Q2 25 51 Q3 25 41 Q4 25 43 Q1 26 31 Q2 26 32 Q3 26 38 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI lead investors 1,723](https://millionrounds.com/lists/ai-lead-investors) - [Lead investors in United States 1,370](https://millionrounds.com/lists/lead-investors-in-united-states) - [Seed lead investors 1,091](https://millionrounds.com/lists/seed-lead-investors) - [Series A lead investors 920](https://millionrounds.com/lists/series-a-lead-investors) - [Fintech lead investors 763](https://millionrounds.com/lists/fintech-lead-investors) - [Series B lead investors 579](https://millionrounds.com/lists/series-b-lead-investors) - [Growth lead investors 555](https://millionrounds.com/lists/growth-lead-investors) - [Robotics lead investors 397](https://millionrounds.com/lists/robotics-lead-investors) - [Pre-seed lead investors 396](https://millionrounds.com/lists/pre-seed-lead-investors) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about D2C lead investors ### Who are the most active D2C lead investors? By cheques observed, the most active are OrbiMed, Blume Ventures, 3one4 Capital, Iconiq Capital and Saama Capital. ### How many D2C lead investors are there? 25 are on record. 100% made an investment in the last 12 months and 100% have led a round. ### Which stages do D2C lead investors back? Of the rounds with a named stage in the last 12 months, mostly Series A (25%) and Seed (25%). ### How big are the rounds D2C lead investors join? The typical (median) round among the leading investors here is $10M. ### Which sectors do D2C lead investors back most? In the last 12 months, mostly Biotech, AI and Healthcare. ### Which D2C lead investors lead the most rounds? Blume Ventures (10 led), OrbiMed (9 led) and 3one4 Capital (9 led). ### Where are D2C lead investors based? Among the most active, most are based in India (12), Singapore (3) and the United States (2). ### What have D2C lead investors invested in recently? Recent rounds include Nuuk (Nov 2026, with RPSG Capital Ventures), Solgram (Pre-seed, Nov 2026, with Saama Capital) and GIVA (Other, Nov 2026, with Multiples). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)