# Govtech lead investors (2026 list)

> 39 govtech lead investors, 97% active in the last 12 months. Led by Andreessen Horowitz, New Enterprise Associates, Index Ventures. Ranked by what they funded.

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

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

# Govtech lead investors

Updated 7 November 2026

Firms we have watched lead a round raised by a govtech company in the last two years. Leading is rarer than taking part, and it is the role a founder most needs filled.

[See all 39 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fgovtech-lead-investors)The top 25

**39** investors on the list *+1* this week

**1,183** cheques in 12 months *+7%* against the market

**$14M** median round they joined *+76%* against the market median

**97%** wrote a cheque in 12 months

**100%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) *Deploying now* VC firm · United States **1,661** **$27M** 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 [Index Ventures](https://millionrounds.com/fund/index-ventures) *Deploying now* VC firm · United Kingdom **1,027** **$31M** median round **Nov 2026** last seen
- 4 [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) *Deploying now* VC firm · United States **765** **$40M** median round **Oct 2026** last seen
- 5 [Menlo Ventures](https://millionrounds.com/fund/menlo-ventures) *Deploying now* VC firm · United States **740** **$37M** median round **Oct 2026** last seen
- 6 [Felicis](https://millionrounds.com/fund/felicis-ventures) *Deploying now* VC firm · United States **640** **$20M** median round **Nov 2026** last seen
- 7 [Benchmark](https://millionrounds.com/fund/benchmark) *Deploying now* VC firm · United States **587** **$30M** median round **Oct 2026** last seen
- 8 [B Capital](https://millionrounds.com/fund/b-capital) *Deploying now* VC firm · United States **495** **$14M** median round **Oct 2026** last seen
- 9 [Crosslink Capital](https://millionrounds.com/fund/crosslink-capital) *Deploying now* VC firm · United States **381** **$10M** median round **Oct 2026** last seen
- 10 [Craft Ventures](https://millionrounds.com/fund/craft-ventures) *Deploying now* VC firm · United States **283** **$14M** median round **Oct 2026** last seen
- 11 [Eniac Ventures](https://millionrounds.com/fund/eniac-ventures) *Deploying now* VC firm · United States **227** **$8M** median round **Jul 2026** last seen
- 12 [SignalFire](https://millionrounds.com/fund/signalfire) *Deploying now* VC firm · United States **188** **$16M** median round **Oct 2026** last seen
- 13 [Industrifonden](https://millionrounds.com/fund/industrifonden) *Deploying now* VC firm · Sweden **140** **$5.8M** median round **Oct 2026** last seen
- 14 [Infinity Ventures](https://millionrounds.com/fund/infinity-ventures) *Deploying now* VC firm · United States **130** **$6.8M** median round **Sept 2026** last seen
- 15 [Primary Venture Partners](https://millionrounds.com/fund/primary-venture-partners) *Deploying now* VC firm · United States **128** **$16M** median round **Oct 2026** last seen
- 16 [Greenoaks](https://millionrounds.com/fund/greenoaks) *Deploying now* VC firm · United States **121** **$115M** median round **Oct 2026** last seen
- 17 [JMI Equity](https://millionrounds.com/fund/jmi-equity) *Deploying now* Private equity · United States **116** **$50M** median round **Sept 2026** last seen
- 18 [Acrew Capital](https://millionrounds.com/fund/acrew-capital) *Deploying now* VC firm · United States **99** **$17M** median round **Nov 2026** last seen
- 19 [Kickstart Seed Fund](https://millionrounds.com/fund/kickstart-seed-fund) *Deploying now* VC firm · United States **80** **$7.3M** median round **Jul 2026** last seen
- 20 [Motorola Solutions Venture Capital](https://millionrounds.com/fund/motorola-solutions-venture-capital) *Deploying now* Corporate VC · United States **60** **$58M** median round **Jul 2026** last seen
- 21 [Urban Innovation Fund](https://millionrounds.com/fund/urban-innovation-fund) *Deploying now* VC firm · Canada **46** **$5.2M** median round **Oct 2026** last seen
- 22 [FPV Ventures](https://millionrounds.com/fund/fpv-ventures) *Deploying now* VC firm · United States **44** **$28M** median round **Sept 2026** last seen
- 23 [Gresham House Ventures](https://millionrounds.com/fund/gresham-house-ventures) *Deploying now* Growth equity · United Kingdom **40** **$6.6M** median round **Sept 2026** last seen
- 24 [J2 Ventures](https://millionrounds.com/fund/j2-ventures) *Deploying now* VC firm · United States **39** **$12M** median round **Sept 2026** last seen
- 25 [Lachy Groom](https://millionrounds.com/fund/lachy-groom) *Deploying now* Angel · United States **37** **$12M** median round **Oct 2026** last seen

**14 more on this list**

All 39 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%2Fgovtech-lead-investors)

## The Newest Cheques

Rounds this list's investors joined most recently

- **4** Nov **[Phaze Inc.](https://millionrounds.com/company/phaze-inc)** Seed · $8.8M *Led by* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz)
- **3** Nov **[Guava](https://millionrounds.com/company/guava)** Seed · $13M *Led by* [Acrew Capital](https://millionrounds.com/fund/acrew-capital)
- **3** Nov **[Granter](https://millionrounds.com/company/granter)** Seed *Led by* [3xP Global](https://millionrounds.com/fund/3xp-global)
- **3** Nov **[Vereda](https://millionrounds.com/company/vereda)** Seed · $5.5M *With* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz)
- **2** Nov **[Northwood Space](https://millionrounds.com/company/northwood-space)** Series C · $375M *Led by* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz)
- **2** Nov **[General Medicine](https://millionrounds.com/company/general-medicine)** Series B · $120M *Led by* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz)

## Stages This Year

1,033 rounds

- Series A **21%**
- Seed **16%**
- Venture **14%**
- Series B **12%**
- Series C **9%**
- Other **28%**

## What They Backed

Sectors, last 12 months

- AI **563**
- Fintech **87**
- Big Data & Analytics **69**
- Healthcare **62**
- Cybersecurity **59**
- Financial Services **57**

## Cheques by Quarter

Led Joined

260 Q1 25

286 Q2 25

309 Q3 25

359 Q4 25

362 Q1 26

311 Q2 26

293 Q3 26

84 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [AI lead investors 1,723](https://millionrounds.com/lists/ai-lead-investors)
- [Lead investors in United States 1,370](https://millionrounds.com/lists/lead-investors-in-united-states)
- [Seed lead investors 1,091](https://millionrounds.com/lists/seed-lead-investors)
- [Series A lead investors 920](https://millionrounds.com/lists/series-a-lead-investors)
- [Fintech lead investors 763](https://millionrounds.com/lists/fintech-lead-investors)
- [Series B lead investors 579](https://millionrounds.com/lists/series-b-lead-investors)
- [Growth lead investors 555](https://millionrounds.com/lists/growth-lead-investors)
- [Robotics lead investors 397](https://millionrounds.com/lists/robotics-lead-investors)
- [Pre-seed lead investors 396](https://millionrounds.com/lists/pre-seed-lead-investors)

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

## Quick answers about govtech lead investors

### Who are the most active govtech lead investors?

By cheques observed, the most active are Andreessen Horowitz, New Enterprise Associates, Index Ventures, Insight Partners and Menlo Ventures.

### How many govtech lead investors are there?

39 are on record. 97% made an investment in the last 12 months and 100% have led a round.

### Which stages do govtech lead investors back?

Of the rounds with a named stage in the last 12 months, mostly Series A (28%) and Seed (21%).

### How big are the rounds govtech lead investors join?

The typical (median) round among the leading investors here is $16M.

### Which sectors do govtech lead investors back most?

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

### Which govtech lead investors lead the most rounds?

Andreessen Horowitz (114 led), New Enterprise Associates (73 led) and Index Ventures (62 led).

### Where are govtech lead investors 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 Sweden.

### What have govtech lead investors invested in recently?

Recent rounds include Phaze Inc. (Seed, Nov 2026, with Andreessen Horowitz), Guava (Seed, Nov 2026, with Acrew Capital) and Granter (Seed, Nov 2026, with 3xP Global).

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