# PE firms at seed (2026 list) > 175 PE firms at seed, 86% active in the last 12 months. Led by Gaingels, Goldman Sachs, Citibank. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-at-seed (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms at seed Updated 7 November 2026 PE firms we have watched take part in a seed round in the last two years. [See all 175 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-at-seed)The top 25 **175** investors on the list *+4* this week **1,859** cheques in 12 months *+6%* against the market **$17M** median round they joined *+117%* against the market median **86%** wrote a cheque in 12 months **59%** 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 [Citibank](https://millionrounds.com/fund/citi) *Deploying now* Growth equity · United States **566** **$20M** median round **Oct 2026** last seen - 4 [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) *Deploying now* Private equity · United States **551** **$2.9M** median round **Nov 2026** last seen - 5 [IDG Capital](https://millionrounds.com/fund/idg-capital) *Deploying now* Private equity · China **504** **$25M** median round **Oct 2026** last seen - 6 [OrbiMed](https://millionrounds.com/fund/orbimed) *Deploying now* Private equity · United States **447** **$71M** median round **Oct 2026** last seen - 7 [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) *Deploying now* Private equity · United States **395** **$93M** median round **Nov 2026** last seen - 8 [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 - 9 [Saif Partners](https://millionrounds.com/fund/saif-partners) *Deploying now* Private equity · Hong Kong SAR China **283** **$14M** median round **May 2026** last seen - 10 [Business Growth Fund](https://millionrounds.com/fund/bgf) *Deploying now* Private equity · United Kingdom **260** **$9.9M** median round **Nov 2026** last seen - 11 [Idinvest Partners](https://millionrounds.com/fund/idinvest-partners) *Deploying now* Private equity · France **217** **$20M** median round **Apr 2026** last seen - 12 [TPG](https://millionrounds.com/fund/tpg) *Deploying now* Private equity · United States **205** **$91M** median round **Nov 2026** last seen - 13 [K5 Global](https://millionrounds.com/fund/k5-global) *Deploying now* Private equity · United States **199** **$11M** median round **Oct 2026** last seen - 14 [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton) *Deploying now* Private equity · United States **198** **$64M** median round **Nov 2026** last seen - 15 [Altair Capital](https://millionrounds.com/fund/altair-capital-2) *Deploying now* Private equity · Singapore **196** **$2.9M** median round **Oct 2026** last seen - 16 [CDH Investments](https://millionrounds.com/fund/cdh-investments) *Deploying now* Private equity · Hong Kong SAR China **190** **$30M** median round **Oct 2026** last seen - 17 [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) *Deploying now* Private equity · United Kingdom **178** **$115M** median round **Oct 2026** last seen - 18 [DST Global](https://millionrounds.com/fund/dst-global) *Deploying now* Private equity · United Kingdom **158** **$81M** median round **Oct 2026** last seen - 19 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen - 20 [Eurazeo](https://millionrounds.com/fund/eurazeo) *Deploying now* Private equity · France **150** **$28M** median round **Oct 2026** last seen - 21 [Vivo Capital](https://millionrounds.com/fund/vivo-capital) *Deploying now* Private equity · United States **140** **$64M** median round **Sept 2026** last seen - 22 [Foresight Group](https://millionrounds.com/fund/foresight-group) *Deploying now* Private equity · United Kingdom **132** **$4M** median round **Oct 2026** last seen - 23 [Maven Capital Partners](https://millionrounds.com/fund/maven-capital-partners) *Deploying now* Private equity · United Kingdom **129** **$3.5M** median round **Oct 2026** last seen - 24 [Smilegate Investment](https://millionrounds.com/fund/smilegate-investment) *Deploying now* Growth equity · South Korea **122** **$5.4M** median round **May 2026** last seen - 25 [Foresite Capital](https://millionrounds.com/fund/forsite-capital) *Deploying now* Private equity · United States **121** **$90M** median round **Sept 2026** last seen **150 more on this list** All 175 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-seed) ## The Newest Cheques Rounds this list's investors joined most recently - **7** Nov **[Arka Fincap](https://millionrounds.com/company/arka-fincap)** Other *Led by* [TPG](https://millionrounds.com/fund/tpg) - **5** Nov **[ArrayPatch](https://millionrounds.com/company/arraypatch)** Seed · $1.8M *With* [WakeUp Capital](https://millionrounds.com/fund/wakeup-capital) - **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Business Growth Fund](https://millionrounds.com/fund/bgf) - **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton) - **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [• Ark Invest](https://millionrounds.com/fund/ark-invest) - **5** Nov **[Potential Sciences](https://millionrounds.com/company/potential-sciences)** Seed *With* [Sovereign AI Fund](https://millionrounds.com/fund/sovereign-ai-fund) ## Stages This Year 1,602 rounds - Venture **19%** - Seed **15%** - Series A **13%** - Debt **12%** - Other **10%** - Other **32%** ## What They Backed Sectors, last 12 months - AI **528** - Biotech **215** - Fintech **125** - Healthcare **109** - Aerospace & Space **80** - Pharma **75** ## Cheques by Quarter Led Joined 425 Q1 25 396 Q2 25 492 Q3 25 634 Q4 25 596 Q1 26 518 Q2 26 369 Q3 26 139 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 PE firms at seed ### Who are the most active PE firms at seed? By cheques observed, the most active are Gaingels, Goldman Sachs, Citibank, Pioneer Fund and IDG Capital. ### How many PE firms at seed are there? 175 are on record. 86% made an investment in the last 12 months and 59% have led a round. ### Which stages do PE firms at seed back? Of the rounds with a named stage in the last 12 months, mostly Seed (22%) and Series A (19%). ### How big are the rounds PE firms at seed join? The typical (median) round among the leading investors here is $28M. ### Which sectors do PE firms at seed back most? In the last 12 months, mostly AI, Biotech and Fintech. ### Which PE firms at seed lead the most rounds? Goldman Sachs (22 led), RA Capital Management (15 led) and DST Global (12 led). ### Where are PE firms at seed based? Among the most active, most are based in the United States (13), the United Kingdom (5) and Hong Kong SAR China (2). ### What have PE firms at seed invested in recently? Recent rounds include Arka Fincap (Other, Nov 2026, with TPG), ArrayPatch (Seed, Nov 2026, with WakeUp Capital) and T-Therapeutics (Series B, Nov 2026, with Business Growth Fund). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)