# DeFi investors (2026 list) > 215 deFi investors, 62% active in the last 12 months. Led by Y Combinator, Andreessen Horowitz, Alumni Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/defi-investors (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # DeFi investors Updated 7 November 2026 Firms observed backing a deFi company in the last two years, taken from what they funded rather than from what their website says they like. [See all 215 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fdefi-investors)The top 25 **215** investors on the list *-2* this week **4,206** cheques in 12 months *-13%* against the market **$8M** median round they joined *+0%* against the market median **62%** wrote a cheque in 12 months **45%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [Y Combinator](https://millionrounds.com/fund/y-combinator) *Deploying now* Accelerator · United States **6,412** **$3M** median round **Oct 2026** last seen - 2 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) *Deploying now* VC firm · United States **1,661** **$27M** median round **Nov 2026** last seen - 3 [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) *Deploying now* VC firm · United States **1,598** **$12M** median round **Nov 2026** last seen - 4 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen - 5 [Accel](https://millionrounds.com/fund/accel) *Deploying now* VC firm · United States **1,341** **$32M** median round **Nov 2026** last seen - 6 [Bpifrance](https://millionrounds.com/fund/bpifrance) *Deploying now* Government · France **1,151** **$4.5M** median round **Oct 2026** last seen - 7 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen - 8 [First Round Capital](https://millionrounds.com/fund/first-round-capital) *Deploying now* VC firm · United States **807** **$18M** median round **Oct 2026** last seen - 9 [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) *Deploying now* VC firm · United States **765** **$40M** median round **Oct 2026** last seen - 10 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** median round **Oct 2026** last seen - 11 [Foundation Capital](https://millionrounds.com/fund/foundation-capital) *Deploying now* VC firm · United States **550** **$13M** median round **Oct 2026** last seen - 12 [HSG](https://millionrounds.com/fund/hsg) *Deploying now* VC firm · Hong Kong SAR China **498** **$31M** median round **Oct 2026** last seen - 13 [Spark Capital](https://millionrounds.com/fund/spark-capital) *Deploying now* VC firm · United States **471** **$40M** median round **Oct 2026** last seen - 14 [Coinbase Ventures](https://millionrounds.com/fund/coinbase) *Deploying now* Corporate VC · United States **465** **$9.8M** median round **Nov 2026** last seen - 15 [Soma Capital](https://millionrounds.com/fund/soma-capital) *Deploying now* VC firm · United States **456** **$4.2M** median round **Oct 2026** last seen - 16 [GSR](https://millionrounds.com/fund/gsr) *Deploying now* VC firm · United Kingdom **453** **$6M** median round **Jun 2026** last seen - 17 [Lerer Hippeau](https://millionrounds.com/fund/lerer-hippeau) *Deploying now* VC firm · United States **419** **$9.7M** median round **Nov 2026** last seen - 18 [Coatue](https://millionrounds.com/fund/coatue-management) *Deploying now* VC firm · United States **404** **$85M** median round **Oct 2026** last seen - 19 [ZhenFund](https://millionrounds.com/fund/zhenfund) *Deploying now* VC firm · China **390** **$9.1M** median round **Oct 2026** last seen - 20 [Speedinvest](https://millionrounds.com/fund/speedinvest) *Deploying now* VC firm · Austria **345** **$6.7M** median round **Nov 2026** last seen - 21 [SBI Investment](https://millionrounds.com/fund/sbi-investment) *Deploying now* VC firm · Japan **330** **$8.7M** median round **Sept 2026** last seen - 22 [Peak XV](https://millionrounds.com/fund/peak-xv) *Deploying now* VC firm · United States **317** **$15M** median round **Nov 2026** last seen - 23 [Headline](https://millionrounds.com/fund/headline) *Deploying now* VC firm · United States **307** **$15M** median round **Oct 2026** last seen - 24 [Craft Ventures](https://millionrounds.com/fund/craft-ventures) *Deploying now* VC firm · United States **283** **$14M** median round **Oct 2026** last seen - 25 [LocalGlobe](https://millionrounds.com/fund/localglobe) *Deploying now* VC firm · United Kingdom **269** **$12M** median round **Oct 2026** last seen **190 more on this list** All 215 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%2Fdefi-investors) ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Thinking Machines Lab](https://millionrounds.com/company/thinking-machines-lab)** Other · $5B *Led by* [Accel](https://millionrounds.com/fund/accel) - **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Coinbase Ventures](https://millionrounds.com/fund/coinbase) - **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) - **5** Nov **[Cowboy](https://millionrounds.com/company/cowboy)** Seed · $5M *With* [ANAGRAM](https://millionrounds.com/fund/anagram) - **5** Nov **[Mindmax](https://millionrounds.com/company/mindmax)** Seed · $3.3M *With* [Lerer Hippeau](https://millionrounds.com/fund/lerer-hippeau) - **5** Nov **[RadianX](https://millionrounds.com/company/radianx)** Seed · $9M *With* [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) ## Stages This Year 3,160 rounds - Venture **20%** - Seed **18%** - Series A **16%** - Pre-seed **10%** - Series B **9%** - Other **26%** ## What They Backed Sectors, last 12 months - AI **1,413** - Fintech **284** - Big Data & Analytics **181** - Web3 & Crypto **178** - Financial Services **150** - Healthcare **149** ## Cheques by Quarter Led Joined 1,178 Q1 25 1,170 Q2 25 1,397 Q3 25 1,525 Q4 25 1,323 Q1 26 1,168 Q2 26 869 Q3 26 268 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI investors 7,040](https://millionrounds.com/lists/ai-investors) - [Fintech investors 2,997](https://millionrounds.com/lists/fintech-investors) - [Big Data & Analytics investors 1,954](https://millionrounds.com/lists/big-data-investors) - [Biotech investors 1,901](https://millionrounds.com/lists/biotech-investors) - [Robotics investors 1,714](https://millionrounds.com/lists/robotics-investors) - [Energy investors 1,707](https://millionrounds.com/lists/energy-investors) - [Construction investors 1,609](https://millionrounds.com/lists/construction-investors) - [Manufacturing investors 1,385](https://millionrounds.com/lists/manufacturing-investors) - [Cybersecurity investors 1,380](https://millionrounds.com/lists/cybersecurity-investors) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about deFi investors ### Who are the most active deFi investors? By cheques observed, the most active are Y Combinator, Andreessen Horowitz, Alumni Ventures, General Catalyst and Accel. ### How many deFi investors are there? 215 are on record. 62% made an investment in the last 12 months and 45% have led a round. ### Which stages do deFi investors back? Of the rounds with a named stage in the last 12 months, mostly Seed (25%) and Series A (23%). ### How big are the rounds deFi investors join? The typical (median) round among the leading investors here is $14M. ### Which sectors do deFi investors back most? In the last 12 months, mostly AI, Fintech and Big Data & Analytics. ### Which deFi investors lead the most rounds? Andreessen Horowitz (114 led), Accel (103 led) and General Catalyst (97 led). ### Where are deFi investors based? Among the most active, most are based in the United States (18), the United Kingdom (2) and France (1). ### What have deFi investors invested in recently? Recent rounds include Thinking Machines Lab (Other, Nov 2026, with Accel), Soter Insure (Series B, Nov 2026, with Coinbase Ventures) and firmly (Series A, Nov 2026, with Alumni Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)