# Investors on their fifth fund or later (2026 list)

> 370 investors on their fifth fund or later, 82% active in the last 12 months. Led by Sequoia Capital, New Enterprise Associates, General Catalyst.

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

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

# Investors on their fifth fund or later

Updated 7 November 2026

Firms whose registered fund vehicles are numbered five or higher. A firm that has raised five funds has convinced institutions to back it five times, which is a fact about its standing that no press release states plainly.

[See all 370 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Ffifth-fund-or-later)The top 25

**370** investors on the list No change this week

**5,176** cheques in 12 months *0%* against the market

**$29M** median round they joined *+266%* against the market median

**82%** wrote a cheque in 12 months

**62%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) *Deploying now* VC firm · United States **2,099** **$35M** median round **Nov 2026** last seen
- 2 [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) *Deploying now* VC firm · United States **1,610** **$34M** median round **Oct 2026** last seen
- 3 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen
- 4 [Accel](https://millionrounds.com/fund/accel) *Deploying now* VC firm · United States **1,341** **$32M** median round **Nov 2026** last seen
- 5 [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) *Deploying now* VC firm · United States **1,341** **$35M** median round **Nov 2026** last seen
- 6 [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) *Deploying now* VC firm · United States **1,128** **$26M** median round **Nov 2026** last seen
- 7 [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) *Deploying now* VC firm · United States **1,038** **$30M** median round **Nov 2026** last seen
- 8 [Index Ventures](https://millionrounds.com/fund/index-ventures) *Deploying now* VC firm · United Kingdom **1,027** **$31M** median round **Nov 2026** last seen
- 9 [First Round Capital](https://millionrounds.com/fund/first-round-capital) *Deploying now* VC firm · United States **807** **$18M** median round **Oct 2026** last seen
- 10 [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) *Deploying now* VC firm · United States **765** **$40M** median round **Oct 2026** last seen
- 11 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** median round **Oct 2026** last seen
- 12 [Greylock](https://millionrounds.com/fund/greylock-partners) *Deploying now* VC firm · United States **719** **$25M** median round **Oct 2026** last seen
- 13 [Norwest Venture Partners](https://millionrounds.com/fund/norwest) *Deploying now* VC firm · United States **705** **$25M** median round **Oct 2026** last seen
- 14 [Battery Ventures](https://millionrounds.com/fund/battery-ventures) *Deploying now* VC firm · United States **658** **$32M** median round **Nov 2026** last seen
- 15 [Canaan](https://millionrounds.com/fund/canaan-partners) *Deploying now* VC firm · United States **610** **$20M** median round **Oct 2026** last seen
- 16 [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) *Deploying now* VC firm · China **553** **$50M** median round **Nov 2026** last seen
- 17 [U.S. Venture Partners](https://millionrounds.com/fund/u-s-venture-partners-usvp) *Deploying now* VC firm · United States **535** **$15M** median round **Nov 2026** last seen
- 18 [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital) *Deploying now* VC firm · United States **526** **$4.1M** median round **Sept 2026** last seen
- 19 [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) *Deploying now* VC firm · Hong Kong SAR China **526** **$25M** median round **Oct 2026** last seen
- 20 [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) *Deploying now* VC firm · United States **524** **$27M** median round **Nov 2026** last seen
- 21 [Mayfield Fund](https://millionrounds.com/fund/mayfield) *Deploying now* VC firm · United States **509** **$23M** median round **Oct 2026** last seen
- 22 [GGV Capital](https://millionrounds.com/fund/ggv-capital) *Deploying now* VC firm · United States **459** **$21M** median round **Jun 2026** last seen
- 23 [OrbiMed](https://millionrounds.com/fund/orbimed) *Deploying now* Private equity · United States **447** **$71M** median round **Oct 2026** last seen
- 24 [Partech Ventures](https://millionrounds.com/fund/partech) *Deploying now* VC firm · France **444** **$15M** median round **Oct 2026** last seen
- 25 [Coatue](https://millionrounds.com/fund/coatue-management) *Deploying now* VC firm · United States **404** **$85M** median round **Oct 2026** last seen

**345 more on this list**

All 370 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%2Ffifth-fund-or-later)

## The Newest Cheques

Rounds this list's investors joined most recently

- **6** Nov **[Vensum Power](https://millionrounds.com/company/vensum-power)** Series A · $10M *Led by* [Lifeline Ventures](https://millionrounds.com/fund/lifeline-ventures)
- **6** Nov **[Physicl](https://millionrounds.com/company/physicl)** Seed · $10M *With* [U.S. Venture Partners](https://millionrounds.com/fund/u-s-venture-partners-usvp)
- **6** Nov **[Shield AI](https://millionrounds.com/company/shield-ai)** $2B *Led by* [Disruptive](https://millionrounds.com/fund/disruptive)
- **6** Nov **[Humble Robotics](https://millionrounds.com/company/humble-robotics)** Series A · $51M *With* [Eclipse](https://millionrounds.com/fund/eclipse)
- **6** Nov **[Thinking Machines Lab](https://millionrounds.com/company/thinking-machines-lab)** Other · $5B *Led by* [Accel](https://millionrounds.com/fund/accel)
- **6** Nov **[Harbinger](https://millionrounds.com/company/harbinger)** Series D+ · $240M *With* [Fidelity](https://millionrounds.com/fund/fidelity)

## Stages This Year

3,527 rounds

- Series A **18%**
- Seed **16%**
- Venture **15%**
- Series B **11%**
- Debt **9%**
- Other **31%**

## What They Backed

Sectors, last 12 months

- AI **1,455**
- Biotech **287**
- Fintech **277**
- Healthcare **238**
- Big Data & Analytics **173**
- Financial Services **159**

## Cheques by Quarter

Led Joined

1,212 Q1 25

1,352 Q2 25

1,482 Q3 25

1,615 Q4 25

1,634 Q1 26

1,383 Q2 26

1,188 Q3 26

383 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)
- [Emerging managers with a new fund under $50M 6,078](https://millionrounds.com/lists/emerging-managers)
- [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)

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

## Quick answers about investors on their fifth fund or later

### Who are the most active investors on their fifth fund or later?

By cheques observed, the most active are Sequoia Capital, New Enterprise Associates, General Catalyst, Accel and Lightspeed Venture Partners.

### How many investors on their fifth fund or later are there?

370 are on record. 82% made an investment in the last 12 months and 62% have led a round.

### Which stages do investors on their fifth fund or later back?

Of the rounds with a named stage in the last 12 months, mostly Series A (25%) and Seed (21%).

### How big are the rounds investors on their fifth fund or later join?

The typical (median) round among the leading investors here is $27M.

### Which sectors do investors on their fifth fund or later back most?

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

### Which investors on their fifth fund or later lead the most rounds?

Accel (103 led), General Catalyst (97 led) and Sequoia Capital (91 led).

### Where are investors on their fifth fund or later based?

Most of the leading investors here are based in the United States (21 of the top 25); the rest in the United Kingdom and China.

### What have investors on their fifth fund or later invested in recently?

Recent rounds include Vensum Power (Series A, Nov 2026, with Lifeline Ventures), Physicl (Seed, Nov 2026, with U.S. Venture Partners) and Shield AI (Nov 2026, with Disruptive).

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