# Emerging managers with a new fund under $50M (2026 list)

> 6,078 emerging managers with a new fund under $50M, 11% active in the last 12 months. Led by Gatsby Falcon A, PRIVATE AEROSPACE INVESTMENTS, Hidden Peak LPF.

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

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

# Emerging managers with a new fund under $50M

Updated 7 November 2026

Firms whose latest fund filing in the last eighteen months reports less than $50 million sold. Small new funds write smaller cheques, decide faster, and look hardest for their first winners.

[See all 6,078 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Femerging-managers)The top 25

**6,078** investors on the list *+34* this week

**5,562** cheques in 12 months *-3%* against the market

**$13M** median round they joined *+59%* against the market median

**11%** wrote a cheque in 12 months

**6%** have led a round

## The Top 25

Ordered by latest fund, $, never by anything anyone paid for

Deploying now (4)

- 1 [Gatsby Falcon A](https://millionrounds.com/fund/gatsby-falcon-a) unknown VC firm · United States **$50M** **-** median round **-** last seen
- 2 [PRIVATE AEROSPACE INVESTMENTS](https://millionrounds.com/fund/private-aerospace-investments) unknown Private equity · United States **$50M** **-** median round **-** last seen
- 3 [Hidden Peak LPF](https://millionrounds.com/fund/hidden-peak-lpf) unknown Private equity · United States **$50M** **-** median round **-** last seen
- 4 [Greenhouse](https://millionrounds.com/fund/greenhouse) quiet Accelerator · Australia **$50M** **$14M** median round **Oct 2018** last seen
- 5 [Investment Solutions Real Estate 2023 Access](https://millionrounds.com/fund/investment-solutions-real-estate-2023-access) unknown Private equity · United States **$50M** **-** median round **-** last seen
- 6 [FCA Health Innovations III QP](https://millionrounds.com/fund/fca-health-innovations-iii-qp) unknown VC firm · United States **$50M** **-** median round **-** last seen
- 7 [Kearney](https://millionrounds.com/fund/kearney) unknown Corporate VC · United States **$50M** **-** median round **-** last seen
- 8 [Cambium Capital](https://millionrounds.com/fund/cambium-capital) *Deploying now* VC firm · United States **$50M** **$30M** median round **Oct 2026** last seen
- 9 [Bowline Capital](https://millionrounds.com/fund/bowline-capital) unknown Private equity · United States **$50M** **-** median round **-** last seen
- 10 [AlphaChi Pearl No. 1 SPC - Pearl No. 1 SP1](https://millionrounds.com/fund/alphachi-pearl-no-1-spc-pearl-no-1-sp1) unknown Private equity · United States **$50M** **-** median round **-** last seen
- 11 [CMWA Private Equity](https://millionrounds.com/fund/cmwa-private-equity) unknown Private equity · United States **$49M** **-** median round **-** last seen
- 12 [ECapital Loan](https://millionrounds.com/fund/ecapital-loan) unknown Private equity · United States **$49M** **-** median round **-** last seen
- 13 [Carnegie](https://millionrounds.com/fund/carnegie) quiet Hedge fund · Sweden **$49M** **$34M** median round **Apr 2004** last seen
- 14 [Lendable](https://millionrounds.com/fund/lendable) *Deploying now* Angel · United Kingdom **$49M** **$39M** median round **Mar 2026** last seen
- 15 [Smarter Capital](https://millionrounds.com/fund/smarter-capital) unknown Private equity · United Kingdom **$49M** **-** median round **-** last seen
- 16 [Cosmic 20261](https://millionrounds.com/fund/cosmic-20261) unknown VC firm · United States **$49M** **-** median round **-** last seen
- 17 [W-Prime Royal II-A](https://millionrounds.com/fund/w-prime-royal-ii-a) unknown Private equity · United States **$49M** **-** median round **-** last seen
- 18 [Rethink Education](https://millionrounds.com/fund/rethink-education) quiet VC firm · United States **$49M** **$6.5M** median round **Mar 2025** last seen
- 19 [AEP](https://millionrounds.com/fund/aep) unknown Private equity · United States **$49M** **-** median round **-** last seen
- 20 [Summa Equity](https://millionrounds.com/fund/summa-equity) quiet Private equity · Sweden **$49M** **$3.3M** median round **Sept 2019** last seen
- 21 [Heritage Point](https://millionrounds.com/fund/heritage-point) unknown Private equity · United States **$49M** **-** median round **-** last seen
- 22 [CX LCLF](https://millionrounds.com/fund/cx-lclf) unknown Private equity · United States **$49M** **-** median round **-** last seen
- 23 [49 Palms](https://millionrounds.com/fund/49-palms) *Deploying now* VC firm **$49M** **$183M** median round **Jul 2026** last seen
- 24 [Definition](https://millionrounds.com/fund/definition-capital) *Deploying now* VC firm · United States **$49M** **$225M** median round **Nov 2026** last seen
- 25 [TechSquare](https://millionrounds.com/fund/techsquare) quiet VC firm **$49M** **$2M** median round **Oct 2014** last seen

**6,053 more on this list**

All 6,078 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%2Femerging-managers)

## The Newest Cheques

Rounds this list's investors joined most recently

- **6** Nov **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *Led by* [OCA Ventures](https://millionrounds.com/fund/oca-ventures)
- **6** Nov **[Harbinger](https://millionrounds.com/company/harbinger)** Series D+ · $240M *Led by* [Ridgeline](https://millionrounds.com/fund/ridgeline-2)
- **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *Led by* [Advent Life Sciences Llp](https://millionrounds.com/fund/advent-life-sciences)
- **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Coinbase Ventures](https://millionrounds.com/fund/coinbase)
- **5** Nov **[Lombard Systems](https://millionrounds.com/company/lombard-systems)** Seed · $4M *Led by* [Ethereal Ventures](https://millionrounds.com/fund/ethereal-ventures)
- **5** Nov **[Siggy](https://millionrounds.com/company/siggy)** Pre-seed · $6M *With* [Coalition Operators](https://millionrounds.com/fund/coalition-operators)

## Stages This Year

3,823 rounds

- Seed **23%**
- Series A **19%**
- Venture **16%**
- Series B **9%**
- Pre-seed **7%**
- Other **26%**

## What They Backed

Sectors, last 12 months

- AI **1,678**
- Fintech **311**
- Biotech **252**
- Healthcare **237**
- Big Data & Analytics **211**
- Financial Services **152**

## Cheques by Quarter

Led Joined

1,441 Q1 25

1,495 Q2 25

1,568 Q3 25

1,728 Q4 25

1,645 Q1 26

1,411 Q2 26

1,311 Q3 26

523 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [Investors whose partners we can name 32,772](https://millionrounds.com/lists/partners-we-can-name)
- [Investors who publish their portfolio 17,295](https://millionrounds.com/lists/publish-their-portfolio)
- [Investment firms of ten people or fewer 9,452](https://millionrounds.com/lists/small-teams)
- [SEC-registered venture advisers 4,344](https://millionrounds.com/lists/sec-registered-venture-advisers)
- [Registered investment advisers 4,214](https://millionrounds.com/lists/registered-investment-advisers)
- [Investors managing over $1 billion 2,691](https://millionrounds.com/lists/managing-over-a-billion)
- [Investors claiming thirty or more companies 2,226](https://millionrounds.com/lists/large-portfolios)
- [Investment firms founded since 2022 2,201](https://millionrounds.com/lists/new-investment-firms)
- [Investors that just raised $100M or more 1,734](https://millionrounds.com/lists/raised-a-large-fund)

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

## Quick answers about emerging managers with a new fund under $50M

### Who are the most active emerging managers with a new fund under $50M?

By latest fund, $, the most active are Gatsby Falcon A, PRIVATE AEROSPACE INVESTMENTS, Hidden Peak LPF, Greenhouse and Investment Solutions Real Estate 2023 Access.

### How many emerging managers with a new fund under $50M are there?

6,078 are on record. 11% made an investment in the last 12 months and 6% have led a round.

### Which stages do emerging managers with a new fund under $50M back?

Of the rounds with a named stage in the last 12 months, mostly Seed (31%) and Series A (25%).

### How big are the rounds emerging managers with a new fund under $50M join?

The typical (median) round among the leading investors here is $30M.

### Which sectors do emerging managers with a new fund under $50M back most?

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

### Which emerging managers with a new fund under $50M lead the most rounds?

Cambium Capital (3 led), Lendable (1 led) and Rethink Education (1 led).

### Where are emerging managers with a new fund under $50M based?

Among the most active, most are based in the United States (18), Sweden (2) and the United Kingdom (2).

### What have emerging managers with a new fund under $50M invested in recently?

Recent rounds include Ocient (Series C, Nov 2026, with OCA Ventures), Harbinger (Series D+, Nov 2026, with Ridgeline) and T-Therapeutics (Series B, Nov 2026, with Advent Life Sciences Llp).

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