# PE firms backing Deeptech (2026 list) > 31 PE firms backing Deeptech, 94% active in the last 12 months. Led by Morgan Stanley Investment Management, T. Rowe Price, Catalyst Fund. Source: https://millionrounds.com/lists/pe-firms-deeptech (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms backing Deeptech Updated 7 November 2026 PE firms we have observed in a deeptech round in the last two years. [See all 31 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-deeptech)The top 25 **31** investors on the list *+1* this week **164** cheques in 12 months *+55%* against the market **$46M** median round they joined *+474%* against the market median **94%** wrote a cheque in 12 months **58%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (23) - 1 [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 - 2 [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) *Deploying now* Private equity · United States **136** **$400M** median round **Nov 2026** last seen - 3 [Catalyst Fund](https://millionrounds.com/fund/catalyst-fund-2) *Deploying now* Growth equity · United States **96** **$3M** median round **Oct 2026** last seen - 4 [Bain Capital](https://millionrounds.com/fund/bain-capital) *Deploying now* Private equity · United States **58** **$50M** median round **Aug 2026** last seen - 5 [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 - 6 [Blackbird](https://millionrounds.com/fund/blackbird) *Deploying now* Private equity · Australia **25** **$24M** median round **Oct 2026** last seen - 7 [• Ark Invest](https://millionrounds.com/fund/ark-invest) *Deploying now* Growth equity · Georgia **17** **$540M** median round **Nov 2026** last seen - 8 [Invest-NL](https://millionrounds.com/fund/invest-nl) *Deploying now* Private equity · Netherlands **16** **$35M** median round **Nov 2026** last seen - 9 [AfricInvest](https://millionrounds.com/fund/africinvest) *Deploying now* Private equity · Tunisia **6** **$13M** median round **May 2026** last seen - 10 [JPMorgan Chase's Strategic Investment Group](https://millionrounds.com/fund/jpmorgan-chase-s-strategic-investment-group) *Deploying now* Growth equity **6** **$1.4B** median round **Oct 2026** last seen - 11 [Cap Innov'Est](https://millionrounds.com/fund/capital-grand-est) quiet Private equity · France **5** **$12M** median round **Sept 2025** last seen - 12 [Jolt Capital](https://millionrounds.com/fund/jolt-capital) *Deploying now* Private equity · France **4** **$11M** median round **Oct 2026** last seen - 13 [SI Ventures](https://millionrounds.com/fund/si-ventures) *Deploying now* Growth equity · United States **4** **$4.9M** median round **Oct 2026** last seen - 14 [3M Ventures](https://millionrounds.com/fund/3m-ventures) *Deploying now* Growth equity **4** **$21M** median round **Sept 2026** last seen - 15 [InnovationX](https://millionrounds.com/fund/innovationx) *Deploying now* Growth equity **3** **$1.5B** median round **Oct 2026** last seen - 16 [SPRIND](https://millionrounds.com/fund/sprind) *Deploying now* Growth equity **3** **$112M** median round **Nov 2026** last seen - 17 [Serendipity Capital](https://millionrounds.com/fund/serendipity-capital) *Deploying now* Private equity · Singapore **3** **$13M** median round **Oct 2026** last seen - 18 [SIMEST](https://millionrounds.com/fund/simest-spa) *Deploying now* Private equity · Italy **2** **$5.8M** median round **Oct 2026** last seen - 19 [Virtu Financial](https://millionrounds.com/fund/virtu-financial) *Deploying now* Growth equity · United States **2** **$766M** median round **Oct 2026** last seen - 20 [Ernij Next](https://millionrounds.com/fund/ernij-next) *Deploying now* Growth equity **2** **$46M** median round **Sept 2026** last seen - 21 [3i Partners](https://millionrounds.com/fund/3i-partners) *Deploying now* Private equity · United States **1** **$2.8M** median round **Oct 2026** last seen - 22 [Agostinelli Group](https://millionrounds.com/fund/agostinelli-group) *Deploying now* Growth equity **1** **$1.5B** median round **Oct 2026** last seen - 23 [NOON Ventures](https://millionrounds.com/fund/noon-ventures) quiet Private equity · Denmark **1** **$12M** median round **Feb 2025** last seen - 24 [Scottish National Investment Bank](https://millionrounds.com/fund/scottish-national-investment-bank) *Deploying now* Growth equity **1** **$16M** median round **Sept 2026** last seen - 25 [Superorganism](https://millionrounds.com/fund/superorganism) *Deploying now* Private equity · United States **1** **$5.8M** median round **Oct 2026** last seen **6 more on this list** All 31 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-deeptech) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [• Ark Invest](https://millionrounds.com/fund/ark-invest) - **5** Nov **[VÆRIDION](https://millionrounds.com/company/v-ridion)** Series A · $34M *Led by* [Invest-NL](https://millionrounds.com/fund/invest-nl) - **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *With* [• Ark Invest](https://millionrounds.com/fund/ark-invest) - **3** Nov **[fal](https://millionrounds.com/company/fal)** $1.3B *With* [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) - **2** Nov **[Hypersonica](https://millionrounds.com/company/hypersonica)** Series B · $112M *With* [SPRIND](https://millionrounds.com/fund/sprind) - **31** Oct **[OpenAI](https://millionrounds.com/company/openai)** Other · $11B *Led by* [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) ## Stages This Year 143 rounds - Growth **17%** - Debt **16%** - Series A **15%** - Series B **11%** - Venture **7%** - Other **34%** ## What They Backed Sectors, last 12 months - AI **44** - Fintech **22** - Deeptech **14** - Healthcare **13** - Energy **11** - Big Data & Analytics **10** ## Cheques by Quarter Led Joined 22 Q1 25 22 Q2 25 38 Q3 25 43 Q4 25 36 Q1 26 36 Q2 26 39 Q3 26 33 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 Deeptech ### Who are the most active PE firms backing Deeptech? By cheques observed, the most active are Morgan Stanley Investment Management, T. Rowe Price, Catalyst Fund, Bain Capital and Gresham House Ventures. ### How many PE firms backing Deeptech are there? 31 are on record. 94% made an investment in the last 12 months and 58% have led a round. ### Which stages do PE firms backing Deeptech back? Of the rounds with a named stage in the last 12 months, mostly Growth (22%) and Debt (21%). ### How big are the rounds PE firms backing Deeptech join? The typical (median) round among the leading investors here is $21M. ### Which sectors do PE firms backing Deeptech back most? In the last 12 months, mostly AI, Fintech and Deeptech. ### Which PE firms backing Deeptech lead the most rounds? T. Rowe Price (11 led), Morgan Stanley Investment Management (10 led) and Gresham House Ventures (7 led). ### Where are PE firms backing Deeptech based? Among the most active, most are based in the United States (8), France (2) and the United Kingdom (1). ### What have PE firms backing Deeptech invested in recently? Recent rounds include firmly (Series A, Nov 2026, with • Ark Invest), VÆRIDION (Series A, Nov 2026, with Invest-NL) and Zipline (Growth, Nov 2026, with • Ark Invest). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)