Investor Lists

Government funds at seed

Updated 7 November 2026

Government funds we have watched take part in a seed round in the last two years.

See all 59 →The top 25
59investors on the list+2 this week
1,149cheques in 12 months-28% against the market
$2.4Mmedian round they joined-70% against the market median
93%wrote a cheque in 12 months
29%have led a round

The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

  1. 1National Science FoundationDeploying nowGovernment · United States1,869$926Kmedian roundSept 2026last seen
  2. 2BpifranceDeploying nowGovernment · France1,151$4.5Mmedian roundOct 2026last seen
  3. 3EIC AcceleratorDeploying nowGovernment · European Union875$4.3Mmedian roundOct 2026last seen
  4. 4Korea Tech Incubator Program For StartupDeploying nowGovernment · South Korea597$2.1Mmedian roundSept 2026last seen
  5. 5US Department of EnergyDeploying nowGovernment · United States453$2Mmedian roundSept 2026last seen
  6. 6Shenzhen Capital Group Co.Deploying nowGovernment · China449$16Mmedian roundOct 2026last seen
  7. 7Enterprise IrelandDeploying nowGovernment · Ireland447$1.8Mmedian roundNov 2026last seen
  8. 8National Institutes of HealthDeploying nowGovernment · United States388$2.3Mmedian roundOct 2026last seen
  9. 9Innovation WorksDeploying nowGovernment · United States321$972Kmedian roundSept 2026last seen
  10. 10International Finance CorporationDeploying nowGovernment · United States283$39Mmedian roundOct 2026last seen
  11. 11Connecticut InnovationsDeploying nowGovernment · United States264$6Mmedian roundOct 2026last seen
  12. 12Scottish EnterpriseDeploying nowGovernment · United Kingdom256$2.1Mmedian roundNov 2026last seen
  13. 13Korea Development BankDeploying nowGovernment · South Korea205$12Mmedian roundOct 2026last seen
  14. 14Bayern KapitalDeploying nowGovernment · Germany173$7.1Mmedian roundOct 2026last seen
  15. 15Ben Franklin Technology PartnersDeploying nowGovernment · United States144$3Mmedian roundSept 2026last seen
  16. 16InnosuisseDeploying nowGovernment · Switzerland144$1.9Mmedian roundAug 2026last seen
  17. 17Government of CanadaDeploying nowGovernment · Canada138$2.5Mmedian roundOct 2026last seen
  18. 18Development Bank of WalesDeploying nowGovernment · United Kingdom123$1.3Mmedian roundOct 2026last seen
  19. 19European UnionDeploying nowGovernment · United Kingdom118$2.3Mmedian roundSept 2026last seen
  20. 20Invest NebraskaDeploying nowGovernment · United States118$875Kmedian roundSept 2026last seen
  21. 21Innova MemphisDeploying nowGovernment · United States116$1.8Mmedian roundSept 2026last seen
  22. 22Small Business Innovation ResearchDeploying nowGovernment · United States98$1Mmedian roundSept 2026last seen
  23. 23IBB VenturesDeploying nowGovernment · Germany97$3.4Mmedian roundNov 2026last seen
  24. 24Desjardins Venture CapitalDeploying nowGovernment · Canada95$4Mmedian roundOct 2026last seen
  25. 25EASME - EU Executive Agency for SMEsDeploying nowGovernment · Belgium91$4.9Mmedian roundDec 2025last seen
34 more on this list

All 59 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 →

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Quick answers about government funds at seed

Who are the most active government funds at seed?

By cheques observed, the most active are National Science Foundation, Bpifrance, EIC Accelerator, Korea Tech Incubator Program For Startup and US Department of Energy.

How many government funds at seed are there?

59 are on record. 93% made an investment in the last 12 months and 29% have led a round.

Which stages do government funds at seed back?

Of the rounds with a named stage in the last 12 months, mostly Seed (26%) and Grant (25%).

How big are the rounds government funds at seed join?

The typical (median) round among the leading investors here is $2.3M.

Which sectors do government funds at seed back most?

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

Which government funds at seed lead the most rounds?

International Finance Corporation (12 led), Bpifrance (11 led) and EIC Accelerator (9 led).

Where are government funds at seed based?

Among the most active, most are based in the United States (10), the United Kingdom (3) and South Korea (2).

What have government funds at seed invested in recently?

Recent rounds include ArrayPatch (Seed, Nov 2026, with Enterprise Ireland), Shinka (Seed, Nov 2026, with Enterprise Ireland) and Amara (Pre-seed, Nov 2026, with IBB Ventures).

Built from the rounds we watched, refreshed every night. How we count · Report a correction