# Funds of funds at early stage (2026 list)

> 10 funds of funds at early stage, 80% active in the last 12 months. Led by Mirae Asset Venture Investment, StepStone Group, Eight Capital.

Source: https://millionrounds.com/lists/funds-of-funds-at-early-stage (Millionrounds; every figure on the page links to its filing or article)

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

# Funds of funds at early stage

Updated 7 November 2026

Funds of funds we have watched take part in an early stage round in the last two years.

[See all 10 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Ffunds-of-funds-at-early-stage)The top 10

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

**55** cheques in 12 months *-10%* against the market

**$9.8M** median round they joined *+23%* against the market median

**80%** wrote a cheque in 12 months

**20%** have led a round

## The Top 10

Ordered by cheques observed, never by anything anyone paid for

Deploying now (8)

- 1 [Mirae Asset Venture Investment](https://millionrounds.com/fund/mirae-asset-venture-investment) *Deploying now* Fund of funds · South Korea **113** **$9.1M** median round **Nov 2026** last seen
- 2 [StepStone Group](https://millionrounds.com/fund/stepstone-group) *Deploying now* Fund of funds · United States **111** **$60M** median round **Sept 2026** last seen
- 3 [Eight Capital](https://millionrounds.com/fund/eight-capital) *Deploying now* Fund of funds · United Arab Emirates **73** **$500K** median round **Sept 2026** last seen
- 4 [Florida Opportunity Fund](https://millionrounds.com/fund/florida-opportunity-fund) *Deploying now* Fund of funds · United States **35** **$5.5M** median round **Aug 2026** last seen
- 5 [Fireball Capital](https://millionrounds.com/fund/fireball-capital) *Deploying now* Fund of funds · South Africa **4** **$9.6M** median round **Nov 2025** last seen
- 6 [Darwin Ventures](https://millionrounds.com/fund/darwin-ventures) *Deploying now* Fund of funds · United States **3** **$10M** median round **Oct 2026** last seen
- 7 [Dubai Future District Fund](https://millionrounds.com/fund/dubai-future-district-fund-2) *Deploying now* Fund of funds · United Arab Emirates **2** **$16M** median round **Sept 2026** last seen
- 8 [Knollwood Investment Advisory](https://millionrounds.com/fund/knollwood-investment-advisory) quiet Fund of funds · United States **2** **$15M** median round **Oct 2025** last seen
- 9 [WovenEarth Ventures](https://millionrounds.com/fund/wovenearth-ventures) quiet Fund of funds · United States **2** **$38M** median round **Jan 2025** last seen
- 10 [Angel Collective](https://millionrounds.com/fund/angel-collective) *Deploying now* Fund of funds · United States **1** **$3.7M** median round **Apr 2026** last seen

## The Newest Cheques

Rounds this list's investors joined most recently

- **4** Nov **[Nums AI](https://millionrounds.com/company/nums-ai)** Pre-seed · $1.5M *With* [Mirae Asset Venture Investment](https://millionrounds.com/fund/mirae-asset-venture-investment)
- **30** Oct **[NanoForge AI](https://millionrounds.com/company/nanoforge-ai)** Seed · $11M *Led by* [Mirae Asset Venture Investment](https://millionrounds.com/fund/mirae-asset-venture-investment)
- **26** Oct **[Omnichat](https://millionrounds.com/company/omnichat)** Series A · $10M *With* [Darwin Ventures](https://millionrounds.com/fund/darwin-ventures)
- **29** Sept **[SiMa.ai](https://millionrounds.com/company/sima-ai)** Series C · $150M *With* [StepStone Group](https://millionrounds.com/fund/stepstone-group)
- **15** Sept **[TesterArmy](https://millionrounds.com/company/testerarmy)** Pre-seed · $1.2M *With* [Eight Capital](https://millionrounds.com/fund/eight-capital)
- **15** Sept **[Isometric](https://millionrounds.com/company/isometric)** Series A · $10M *With* [Dubai Future District Fund](https://millionrounds.com/fund/dubai-future-district-fund-2)

## Stages This Year

55 rounds

- Series A **27%**
- Series C **15%**
- Venture **9%**
- Seed **9%**
- Series B **9%**
- Other **31%**

## What They Backed

Sectors, last 12 months

- AI **27**
- Big Data & Analytics **9**
- Hardware & Electronics **6**
- Healthcare **5**
- Energy **5**
- Semiconductors **5**

## Cheques by Quarter

Led Joined

15 Q1 25

19 Q2 25

12 Q3 25

22 Q4 25

20 Q1 26

12 Q2 26

12 Q3 26

3 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [VC firms at early stage 6,133](https://millionrounds.com/lists/vc-firms-at-early-stage)
- [VC firms at seed 3,708](https://millionrounds.com/lists/vc-firms-at-seed)
- [VC firms at Series A 3,249](https://millionrounds.com/lists/vc-firms-at-series-a)
- [VC firms at pre-seed 1,689](https://millionrounds.com/lists/vc-firms-at-pre-seed)
- [VC firms at Series B 1,595](https://millionrounds.com/lists/vc-firms-at-series-b)
- [VC firms at growth 1,005](https://millionrounds.com/lists/vc-firms-at-growth)
- [VC firms at Series C 958](https://millionrounds.com/lists/vc-firms-at-series-c)
- [PE firms at growth 772](https://millionrounds.com/lists/pe-firms-at-growth)
- [PE firms at Series B 700](https://millionrounds.com/lists/pe-firms-at-series-b)

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

## Reading for founders at seed

- The Elements of User Experience: User-Centered Design for the Web Jesse James Garrett · 2002 4.01 from 4,134 ratings on Goodreads Finding product-market fit Company building About the book Smart organizations recognize that Web design is more than just creating clean code and sharp graphics. A site that really works fulfills your strategic objectives while meeting the needs of your users. Even the best content and the most sophisticated technology won't help you… On AmazonListen on Audible
- Get Backed: Craft Your Story, Build the Perfect Pitch Deck, and Launch the Venture of Your Dreams Evan Baehr · 2015 4.36 from 356 ratings on Goodreads Raising money Company building About the book HOW DO YOU LAUNCH THE VENTURE OF YOUR DREAMS? Get Backed isn’t just about startup fundraising. It’s a handbook for anyone who has an idea and needs to build relationships to get it off the ground. Over the last 3 years, entrepreneurs Evan Loomis and Evan Baehr have… On AmazonListen on Audible
- Selling the Invisible: A Field Guide to Modern Marketing Harry Beckwith · 1997 3.94 from 10,059 ratings on Goodreads Marketing and growth First sales Company building About the book You can't touch, hear, or see your company's most important products... So how do you sell, develop, make them grow? That's the problem with services. This "phenomenal" book, as one reviewer called it, answers that question with insights on how markets work and how prospects… On AmazonListen on Audible
- 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More Perry Marshall · 2013 4.19 from 1,904 ratings on Goodreads First sales Marketing and growth Company building About the book Stop "Just Getting By"... Master The 80/20 Principle And Make More Money Without More Work. When you know how to walk into any situation and see the 80/20's, you can solve almost ANY marketing problem. 80/20 can demolish any sales and advertising problem. "If you don't know… On AmazonListen on Audible

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about funds of funds at early stage

### Who are the most active funds of funds at early stage?

By cheques observed, the most active are Mirae Asset Venture Investment, StepStone Group, Eight Capital, Florida Opportunity Fund and Fireball Capital.

### How many funds of funds at early stage are there?

10 are on record. 80% made an investment in the last 12 months and 20% have led a round.

### Which stages do funds of funds at early stage back?

Of the rounds with a named stage in the last 12 months, mostly Series A (33%) and Series C (18%).

### How big are the rounds funds of funds at early stage join?

The typical (median) round among the leading investors here is $10M.

### Which sectors do funds of funds at early stage back most?

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

### Which funds of funds at early stage lead the most rounds?

StepStone Group (5 led) and Mirae Asset Venture Investment (1 led).

### Where are funds of funds at early stage based?

Among the most active, most are based in the United States (6), the United Arab Emirates (2) and South Korea (1).

### What have funds of funds at early stage invested in recently?

Recent rounds include Nums AI (Pre-seed, Nov 2026, with Mirae Asset Venture Investment), NanoForge AI (Seed, Oct 2026, with Mirae Asset Venture Investment) and Omnichat (Series A, Oct 2026, with Darwin Ventures).

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