# Hedge funds at seed (2026 list) > 23 hedge funds at seed, 74% active in the last 12 months. Led by Polygon, Matrix, Fasanara Capital. Ranked by what they funded. Source: https://millionrounds.com/lists/hedge-funds-at-seed (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Hedge funds at seed Updated 7 November 2026 Hedge funds we have watched take part in a seed round in the last two years. [See all 23 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fhedge-funds-at-seed)The top 23 **23** investors on the list *+1* this week **61** cheques in 12 months *-20%* against the market **$14M** median round they joined *+75%* against the market median **74%** wrote a cheque in 12 months **22%** have led a round ## The Top 23 Ordered by cheques observed, never by anything anyone paid for Deploying now (17) - 1 [Polygon](https://millionrounds.com/fund/polygon) *Deploying now* Hedge fund · Cayman Islands **149** **$5M** median round **Oct 2026** last seen - 2 [Matrix](https://millionrounds.com/fund/matrix) *Deploying now* Hedge fund · United Arab Emirates **104** **$31M** median round **Nov 2026** last seen - 3 [Fasanara Capital](https://millionrounds.com/fund/fasanara-capital) *Deploying now* Hedge fund · United Kingdom **50** **$30M** median round **Sept 2026** last seen - 4 [UNITED, Inc.](https://millionrounds.com/fund/united) *Deploying now* Hedge fund · Japan **50** **$10M** median round **Sept 2026** last seen - 5 [Altair](https://millionrounds.com/fund/altair) *Deploying now* Hedge fund · United States **17** **$6M** median round **Jun 2026** last seen - 6 [Maverick Silicon](https://millionrounds.com/fund/maverick-silicon) *Deploying now* Hedge fund · United States **14** **$109M** median round **Oct 2026** last seen - 7 [Genesis](https://millionrounds.com/fund/genesis-3) *Deploying now* Hedge fund · United States **13** **$24M** median round **Oct 2026** last seen - 8 [Circle](https://millionrounds.com/fund/circle) *Deploying now* Hedge fund · United States **13** **$14M** median round **Feb 2026** last seen - 9 [Aperture](https://millionrounds.com/fund/aperture) *Deploying now* Hedge fund · United States **7** **$36M** median round **May 2026** last seen - 10 [Bond Capital](https://millionrounds.com/fund/bond-capital) *Deploying now* Hedge fund · Canada **3** **$1.1B** median round **Sept 2026** last seen - 11 [Hypersphere Capital](https://millionrounds.com/fund/hypersphere) *Deploying now* Hedge fund · United States **3** **$17M** median round **Apr 2026** last seen - 12 [Insiders](https://millionrounds.com/fund/insiders) *Deploying now* Hedge fund · United Kingdom **3** **$12M** median round **Oct 2026** last seen - 13 [Odyssey](https://millionrounds.com/fund/odyssey) *Deploying now* Hedge fund · United States **3** **$50M** median round **Nov 2026** last seen - 14 [Sats Ventures](https://millionrounds.com/fund/sats-ventures) quiet Hedge fund **2** **$3M** median round **May 2025** last seen - 15 [Anchorage](https://millionrounds.com/fund/anchorage) quiet Hedge fund · United States **1** **$5.5M** median round **Oct 2025** last seen - 16 [Kairon Capital](https://millionrounds.com/fund/kairon-capital) *Deploying now* Hedge fund · India **1** **$798K** median round **Oct 2026** last seen - 17 [Magnolia Capital](https://millionrounds.com/fund/magnolia-capital) *Deploying now* Hedge fund **1** **$15M** median round **Dec 2025** last seen - 18 [Motion Capital](https://millionrounds.com/fund/motion-capital) *Deploying now* Hedge fund · New Zealand **1** **$2.5M** median round **Dec 2025** last seen - 19 [Orange](https://millionrounds.com/fund/orange-3) quiet Hedge fund **1** **$1M** median round **Dec 2024** last seen - 20 [Positron](https://millionrounds.com/fund/positron) *Deploying now* Hedge fund · Netherlands **1** **$6.9M** median round **Jun 2026** last seen - 21 [Sunrise](https://millionrounds.com/fund/sunrise) quiet Hedge fund · Rwanda **1** **$76M** median round **Jan 2025** last seen - 22 [Relayer Capital](https://millionrounds.com/fund/relayer-capital) quiet Hedge fund · United States **1** **$5.5M** median round **Oct 2025** last seen - 23 [Republic Digital](https://millionrounds.com/fund/republic-digital) quiet Hedge fund **1** **$200M** median round **Sept 2025** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[Potential Sciences](https://millionrounds.com/company/potential-sciences)** Seed *With* [Odyssey](https://millionrounds.com/fund/odyssey) - **2** Nov **[General Medicine](https://millionrounds.com/company/general-medicine)** Series B · $120M *With* [Matrix](https://millionrounds.com/fund/matrix) - **29** Oct **[i23](https://millionrounds.com/company/i23)** Seed · $6.5M *Led by* [Insiders](https://millionrounds.com/fund/insiders) - **26** Oct **[Bucketlistt.com](https://millionrounds.com/company/bucketlistt-com)** Seed · $798K *Led by* [Kairon Capital](https://millionrounds.com/fund/kairon-capital) - **22** Oct **[Peak Energy](https://millionrounds.com/company/peak-energy)** Series B · $108M *With* [Maverick Silicon](https://millionrounds.com/fund/maverick-silicon) - **19** Oct **[Tenstorrent](https://millionrounds.com/company/tenstorrent)** $1.5B *With* [Maverick Silicon](https://millionrounds.com/fund/maverick-silicon) ## Stages This Year 61 rounds - Seed **31%** - Debt **16%** - Series A **13%** - Series B **13%** - Venture **8%** - Other **18%** ## What They Backed Sectors, last 12 months - AI **25** - Fintech **8** - Web3 & Crypto **6** - Semiconductors **6** - Energy **5** - Enterprise Software **4** ## Cheques by Quarter Led Joined 19 Q1 25 20 Q2 25 22 Q3 25 23 Q4 25 11 Q1 26 12 Q2 26 17 Q3 26 9 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 hedge funds at seed ### Who are the most active hedge funds at seed? By cheques observed, the most active are Polygon, Matrix, Fasanara Capital, UNITED, Inc. and Altair. ### How many hedge funds at seed are there? 23 are on record. 74% made an investment in the last 12 months and 22% have led a round. ### Which stages do hedge funds at seed back? Of the rounds with a named stage in the last 12 months, mostly Seed (37%) and Debt (20%). ### How big are the rounds hedge funds at seed join? The typical (median) round among the leading investors here is $14M. ### Which sectors do hedge funds at seed back most? In the last 12 months, mostly AI, Fintech and Web3 & Crypto. ### Which hedge funds at seed lead the most rounds? Matrix (7 led), UNITED, Inc. (4 led) and Maverick Silicon (4 led). ### Where are hedge funds at seed based? Among the most active, most are based in the United States (9), the United Kingdom (2) and Cayman Islands (1). ### What have hedge funds at seed invested in recently? Recent rounds include Potential Sciences (Seed, Nov 2026, with Odyssey), General Medicine (Series B, Nov 2026, with Matrix) and i23 (Seed, Oct 2026, with Insiders). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)