# PE firms backing B2C (2026 list) > 38 PE firms backing B2C, 97% active in the last 12 months. Led by Gaingels, Goldman Sachs, Citibank. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-b2c (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms backing B2C Updated 7 November 2026 PE firms we have observed in a B2C round in the last two years. [See all 38 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-b2c)The top 25 **38** investors on the list No change this week **728** cheques in 12 months *-8%* against the market **$42M** median round they joined *+423%* against the market median **97%** wrote a cheque in 12 months **66%** 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 [DCM Ventures](https://millionrounds.com/fund/dcm-ventures) *Deploying now* Private equity · United States **433** **$16M** median round **Aug 2026** last seen - 6 [General Atlantic](https://millionrounds.com/fund/general-atlantic) *Deploying now* Private equity · United States **273** **$127M** median round **Oct 2026** last seen - 7 [Warburg Pincus](https://millionrounds.com/fund/warburg-pincus) *Deploying now* Private equity · United States **260** **$124M** median round **Oct 2026** last seen - 8 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen - 9 [Eurazeo](https://millionrounds.com/fund/eurazeo) *Deploying now* Private equity · France **150** **$28M** median round **Oct 2026** last seen - 10 [Apollo](https://millionrounds.com/fund/apollo-global-management) *Deploying now* Private equity · United States **114** **$55M** median round **Oct 2026** last seen - 11 [L Catterton](https://millionrounds.com/fund/l-catterton) *Deploying now* Private equity · United States **110** **$34M** median round **Oct 2026** last seen - 12 [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) *Deploying now* Private equity · United States **94** **$12M** median round **Sept 2026** last seen - 13 [Iconiq Capital](https://millionrounds.com/fund/iconiq-capital-3) *Deploying now* Growth equity · Sri Lanka **87** **$75M** median round **Sept 2026** last seen - 14 [Alibaba](https://millionrounds.com/fund/alibaba) *Deploying now* Growth equity · United States **83** **$150M** median round **Oct 2026** last seen - 15 [Eastern Bell Capital](https://millionrounds.com/fund/eastern-bell-capital) *Deploying now* Private equity · China **72** **$15M** median round **Jul 2026** last seen - 16 [Pavilion Capital](https://millionrounds.com/fund/pavilion-capital) *Deploying now* Private equity · United States **67** **$28M** median round **Jul 2026** last seen - 17 [Fortress Investment](https://millionrounds.com/fund/fortress-investment-group) *Deploying now* Private equity · United States **61** **$100M** median round **Sept 2026** last seen - 18 [SBI Group](https://millionrounds.com/fund/sbi-group) *Deploying now* Growth equity **57** **$14M** median round **Nov 2026** last seen - 19 [Victory Park Capital Advisors](https://millionrounds.com/fund/victory-park-capital) *Deploying now* Private equity · United States **38** **$100M** median round **Nov 2026** last seen - 20 [ChrysCapital](https://millionrounds.com/fund/chryscapital) *Deploying now* Private equity · United States **8** **$153M** median round **Dec 2025** last seen - 21 [Positive Sum](https://millionrounds.com/fund/positive-sum) *Deploying now* Private equity · United States **7** **$300M** median round **Aug 2026** last seen - 22 [Atreides](https://millionrounds.com/fund/atreides) *Deploying now* Private equity · United States **6** **$600M** median round **Aug 2026** last seen - 23 [ECONA AG](https://millionrounds.com/fund/econa) *Deploying now* Private equity · Germany **6** **$4.2M** median round **Nov 2026** last seen - 24 [Spice Expeditions](https://millionrounds.com/fund/spice-expeditions) *Deploying now* Growth equity **6** **$120M** median round **Oct 2026** last seen - 25 [Alkeon](https://millionrounds.com/fund/alkeon) *Deploying now* Private equity · United States **5** **$130M** median round **Jun 2026** last seen **13 more on this list** All 38 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-b2c) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [SBI Group](https://millionrounds.com/fund/sbi-group) - **5** Nov **[Nyquis](https://millionrounds.com/company/nyquis)** Seed · $6.3M *With* [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) - **5** Nov **[Billd](https://millionrounds.com/company/billd)** Debt · $100M *Led by* [Victory Park Capital Advisors](https://millionrounds.com/fund/victory-park-capital) - **4** Nov **[Amara](https://millionrounds.com/company/amara)** Pre-seed · $4.2M *With* [ECONA AG](https://millionrounds.com/fund/econa) - **31** Oct **[Numour](https://millionrounds.com/company/numour)** $3.1M *Led by* [Sharrp Ventures](https://millionrounds.com/fund/sharrp-ventures-harsh-mariwala-investment-office) - **30** Oct **[Complaion](https://millionrounds.com/company/complaion)** Other *Led by* [Eurazeo](https://millionrounds.com/fund/eurazeo) ## Stages This Year 673 rounds - Venture **23%** - Debt **15%** - Seed **11%** - Series A **10%** - Growth **8%** - Other **32%** ## What They Backed Sectors, last 12 months - AI **226** - Fintech **69** - Financial Services **49** - Aerospace & Space **42** - Biotech **35** - B2C **28** ## Cheques by Quarter Led Joined 194 Q1 25 194 Q2 25 235 Q3 25 256 Q4 25 235 Q1 26 207 Q2 26 137 Q3 26 44 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai) - [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech) - [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data) - [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech) - [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics) - [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction) - [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy) - [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai) - [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about PE firms backing B2C ### Who are the most active PE firms backing B2C? By cheques observed, the most active are Gaingels, Goldman Sachs, Citibank, Pioneer Fund and DCM Ventures. ### How many PE firms backing B2C are there? 38 are on record. 97% made an investment in the last 12 months and 66% have led a round. ### Which stages do PE firms backing B2C back? Of the rounds with a named stage in the last 12 months, mostly Debt (23%) and Seed (17%). ### How big are the rounds PE firms backing B2C join? The typical (median) round among the leading investors here is $55M. ### Which sectors do PE firms backing B2C back most? In the last 12 months, mostly AI, Fintech and Financial Services. ### Which PE firms backing B2C lead the most rounds? General Atlantic (32 led), Goldman Sachs (22 led) and Bond (11 led). ### Where are PE firms backing B2C based? Among the most active, most are based in the United States (19), France (1) and Sri Lanka (1). ### What have PE firms backing B2C invested in recently? Recent rounds include Soter Insure (Series B, Nov 2026, with SBI Group), Nyquis (Seed, Nov 2026, with Pioneer Fund) and Billd (Debt, Nov 2026, with Victory Park Capital Advisors). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)