# PE firms at pre-seed (2026 list)

> 53 PE firms at pre-seed, 85% active in the last 12 months. Led by Gaingels, Goldman Sachs, Pioneer Fund. Ranked by what they funded.

Source: https://millionrounds.com/lists/pe-firms-at-pre-seed (Millionrounds; every figure on the page links to its filing or article)

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

# PE firms at pre-seed

Updated 7 November 2026

PE firms we have watched take part in a pre-seed round in the last two years.

[See all 53 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-at-pre-seed)The top 25

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

**828** cheques in 12 months *-9%* against the market

**$15M** median round they joined *+81%* against the market median

**85%** 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 [Gaingels](https://millionrounds.com/fund/gaingels) *Deploying now* Private equity · United States **1,010** **$8M** median round **Oct 2026** last seen
- 2 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** median round **Oct 2026** last seen
- 3 [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) *Deploying now* Private equity · United States **551** **$2.9M** median round **Nov 2026** last seen
- 4 [IDG Capital](https://millionrounds.com/fund/idg-capital) *Deploying now* Private equity · China **504** **$25M** median round **Oct 2026** last seen
- 5 [Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management) *Deploying now* Private equity · United States **288** **$56M** median round **Oct 2026** last seen
- 6 [K5 Global](https://millionrounds.com/fund/k5-global) *Deploying now* Private equity · United States **199** **$11M** median round **Oct 2026** last seen
- 7 [Altair Capital](https://millionrounds.com/fund/altair-capital-2) *Deploying now* Private equity · Singapore **196** **$2.9M** median round **Oct 2026** last seen
- 8 [DST Global](https://millionrounds.com/fund/dst-global) *Deploying now* Private equity · United Kingdom **158** **$81M** median round **Oct 2026** last seen
- 9 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen
- 10 [Eurazeo](https://millionrounds.com/fund/eurazeo) *Deploying now* Private equity · France **150** **$28M** median round **Oct 2026** last seen
- 11 [WndrCo](https://millionrounds.com/fund/wndrco) *Deploying now* Private equity · United States **114** **$15M** median round **Sept 2026** last seen
- 12 [Sands Capital Ventures](https://millionrounds.com/fund/sands-capital-ventures) *Deploying now* Private equity **99** **$45M** median round **Aug 2026** last seen
- 13 [Better Capital](https://millionrounds.com/fund/better-capital) *Deploying now* Private equity · United Kingdom **97** **$2.5M** median round **Oct 2026** last seen
- 14 [Catalyst Fund](https://millionrounds.com/fund/catalyst-fund-2) *Deploying now* Growth equity · United States **96** **$3M** median round **Oct 2026** last seen
- 15 [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) *Deploying now* Private equity · United States **94** **$12M** median round **Sept 2026** last seen
- 16 [GIC](https://millionrounds.com/fund/gic) *Deploying now* Private equity · Singapore **92** **$200M** median round **Oct 2026** last seen
- 17 [Space Capital](https://millionrounds.com/fund/space-capital-2) *Deploying now* Private equity · Italy **79** **$12M** median round **Oct 2026** last seen
- 18 [Huagai Capital](https://millionrounds.com/fund/huagai-capital) *Deploying now* Private equity · China **75** **$15M** median round **Jul 2026** last seen
- 19 [Sorenson Capital](https://millionrounds.com/fund/sorenson-capital) *Deploying now* Private equity · United States **74** **$25M** median round **Oct 2026** last seen
- 20 [Eastern Bell Capital](https://millionrounds.com/fund/eastern-bell-capital) *Deploying now* Private equity · China **72** **$15M** median round **Jul 2026** last seen
- 21 [LB Investment](https://millionrounds.com/fund/lb-investment) *Deploying now* Private equity · South Korea **72** **$11M** median round **Nov 2026** last seen
- 22 [Breyer Capital](https://millionrounds.com/fund/breyer-capital) *Deploying now* Private equity · United States **69** **$24M** median round **Oct 2026** last seen
- 23 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen
- 24 [Raptor Group](https://millionrounds.com/fund/raptor-group) *Deploying now* Private equity · United States **50** **$15M** median round **Sept 2026** last seen
- 25 [IAG Capital Partners](https://millionrounds.com/fund/iag-capital-partners) *Deploying now* Private equity · United States **46** **$15M** median round **Sept 2026** last seen

**28 more on this list**

All 53 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%2Fpe-firms-at-pre-seed)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[Nyquis](https://millionrounds.com/company/nyquis)** Seed · $6.3M *With* [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2)
- **5** Nov **[Pliant](https://millionrounds.com/company/pliant)** Series C · $80M *With* [Motive Ventures](https://millionrounds.com/fund/motive-partners)
- **4** Nov **[Amara](https://millionrounds.com/company/amara)** Pre-seed · $4.2M *With* [ECONA AG](https://millionrounds.com/fund/econa)
- **3** Nov **[TDS Innovation](https://millionrounds.com/company/tds-innovation)** Pre-seed · $4.8M *Led by* [LB Investment](https://millionrounds.com/fund/lb-investment)
- **2** Nov **[Hypersonica](https://millionrounds.com/company/hypersonica)** Series B · $112M *With* [SPRIND](https://millionrounds.com/fund/sprind)
- **30** Oct **[Complaion](https://millionrounds.com/company/complaion)** Other *Led by* [Eurazeo](https://millionrounds.com/fund/eurazeo)

## Stages This Year

779 rounds

- Venture **22%**
- Seed **15%**
- Series A **13%**
- Debt **9%**
- Series B **8%**
- Other **33%**

## What They Backed

Sectors, last 12 months

- AI **319**
- Fintech **68**
- Biotech **46**
- Aerospace & Space **46**
- Big Data & Analytics **41**
- Healthcare **39**

## Cheques by Quarter

Led Joined

236 Q1 25

211 Q2 25

256 Q3 25

307 Q4 25

279 Q1 26

219 Q2 26

149 Q3 26

51 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 idea or pre-seed

- Thinking, Fast and Slow Daniel Kahneman · 2011 4.16 from 616,355 ratings on Goodreads Judgement and decisions Company building About the book In the highly anticipated Thinking, Fast and Slow, Kahneman takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. Kahneman… On AmazonListen on Audible
- 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
- Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist [Brad Feld](https://millionrounds.com/person/brad-feld) · 2011 4.11 from 17,486 ratings on Goodreads Raising money Company building About the book Praise for Venture Deals"My biggest nightmare is taking advantage of an entrepreneur without even realizing it. It happens because VCs are experts in financings and most entrepreneurs are not. Brad and Jason are out to fix that problem with Venture Deals. This book is long… On AmazonListen on Audible[Author's Podcasts](https://millionrounds.com/person/brad-feld#podcasts)

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about PE firms at pre-seed

### Who are the most active PE firms at pre-seed?

By cheques observed, the most active are Gaingels, Goldman Sachs, Pioneer Fund, IDG Capital and Morgan Stanley Investment Management.

### How many PE firms at pre-seed are there?

53 are on record. 85% made an investment in the last 12 months and 62% have led a round.

### Which stages do PE firms at pre-seed back?

Of the rounds with a named stage in the last 12 months, mostly Seed (22%) and Series A (20%).

### How big are the rounds PE firms at pre-seed join?

The typical (median) round among the leading investors here is $15M.

### Which sectors do PE firms at pre-seed back most?

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

### Which PE firms at pre-seed lead the most rounds?

Goldman Sachs (22 led), GIC (17 led) and DST Global (12 led).

### Where are PE firms at pre-seed based?

Among the most active, most are based in the United States (13), China (3) and Singapore (2).

### What have PE firms at pre-seed invested in recently?

Recent rounds include Nyquis (Seed, Nov 2026, with Pioneer Fund), Pliant (Series C, Nov 2026, with Motive Ventures) and Amara (Pre-seed, Nov 2026, with ECONA AG).

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