# PE firms backing Developer Tools (2026 list)

> 69 PE firms backing Developer Tools, 90% active in the last 12 months. Led by Gaingels, Citibank, Pioneer Fund. Ranked by what they funded.

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

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

# PE firms backing Developer Tools

Updated 7 November 2026

PE firms we have observed in a developer Tools round in the last two years.

[See all 69 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-developer-tools)The top 25

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

**921** cheques in 12 months *+3%* against the market

**$60M** median round they joined *+650%* against the market median

**90%** wrote a cheque in 12 months

**54%** 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 [Citibank](https://millionrounds.com/fund/citi) *Deploying now* Growth equity · United States **566** **$20M** 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 [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
- 5 [General Atlantic](https://millionrounds.com/fund/general-atlantic) *Deploying now* Private equity · United States **273** **$127M** median round **Oct 2026** last seen
- 6 [Business Growth Fund](https://millionrounds.com/fund/bgf) *Deploying now* Private equity · United Kingdom **260** **$9.9M** median round **Nov 2026** last seen
- 7 [K5 Global](https://millionrounds.com/fund/k5-global) *Deploying now* Private equity · United States **199** **$11M** 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 [Eurazeo](https://millionrounds.com/fund/eurazeo) *Deploying now* Private equity · France **150** **$28M** median round **Oct 2026** last seen
- 10 [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) *Deploying now* Private equity · United States **136** **$400M** median round **Nov 2026** last seen
- 11 [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
- 12 [Edison Partners](https://millionrounds.com/fund/edison-partners) *Deploying now* Private equity · United States **118** **$15M** median round **Oct 2026** last seen
- 13 [Beringea](https://millionrounds.com/fund/beringea) *Deploying now* Private equity · United States **116** **$8.8M** median round **Sept 2026** last seen
- 14 [WndrCo](https://millionrounds.com/fund/wndrco) *Deploying now* Private equity · United States **114** **$15M** median round **Sept 2026** last seen
- 15 [Blackstone Group](https://millionrounds.com/fund/blackstone-group) *Deploying now* Private equity · United States **98** **$200M** 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 [Sorenson Capital](https://millionrounds.com/fund/sorenson-capital) *Deploying now* Private equity · United States **74** **$25M** median round **Oct 2026** last seen
- 18 [Alpha Wave Global](https://millionrounds.com/fund/alpha-wave-global) *Deploying now* Private equity · United States **70** **$48M** median round **Oct 2026** last seen
- 19 [Addition](https://millionrounds.com/fund/addition) *Deploying now* Private equity · United States **58** **$38M** median round **Sept 2026** last seen
- 20 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen
- 21 [Verdane](https://millionrounds.com/fund/verdane) *Deploying now* Private equity · Norway **36** **$19M** median round **Oct 2026** last seen
- 22 [Riverside Acceleration Capital](https://millionrounds.com/fund/riverside-acceleration-capital) *Deploying now* Growth equity · United States **34** **$14M** median round **Sept 2026** last seen
- 23 [Qatar Ban](https://millionrounds.com/fund/qatar-ban) *Deploying now* Growth equity · Qatar **33** **$548M** median round **Sept 2026** last seen
- 24 [Blackbird](https://millionrounds.com/fund/blackbird) *Deploying now* Private equity · Australia **25** **$24M** median round **Oct 2026** last seen
- 25 [Goldman Sachs Alternatives](https://millionrounds.com/fund/goldman-sachs-alternatives) *Deploying now* Growth equity **24** **$110M** median round **Oct 2026** last seen

**44 more on this list**

All 69 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-developer-tools)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Business Growth Fund](https://millionrounds.com/fund/bgf)
- **5** Nov **[Nyquis](https://millionrounds.com/company/nyquis)** Seed · $6.3M *With* [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2)
- **5** Nov **[Cowboy](https://millionrounds.com/company/cowboy)** Seed · $5M *With* [ANAGRAM](https://millionrounds.com/fund/anagram)
- **3** Nov **[Traversal](https://millionrounds.com/company/traversal)** Series B · $120M *With* [Amex Ventures](https://millionrounds.com/fund/amex-ventures)
- **3** Nov **[fal](https://millionrounds.com/company/fal)** $1.3B *With* [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price)
- **3** Nov **[Applied Compute](https://millionrounds.com/company/applied-compute)** Other · $350M *With* [Shopify Ventures](https://millionrounds.com/fund/shopify-ventures)

## Stages This Year

814 rounds

- Venture **21%**
- Seed **13%**
- Series A **11%**
- Debt **10%**
- Series B **9%**
- Other **36%**

## What They Backed

Sectors, last 12 months

- AI **359**
- Fintech **70**
- Big Data & Analytics **49**
- Aerospace & Space **46**
- Biotech **43**
- Financial Services **41**

## Cheques by Quarter

Led Joined

226 Q1 25

220 Q2 25

264 Q3 25

293 Q4 25

292 Q1 26

247 Q2 26

201 Q3 26

55 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)

## Reading for founders in developer tools and open source

- Dreaming in Code: Two Dozen Programmers, Three Years, 4,732 Bugs, and One Quest for Transcendent Software Scott Rosenberg · 2007 3.71 from 3,101 ratings on Goodreads Developer tools and open source About the book Their story takes us through a maze of dead ends and exhilarating breakthroughs as they and their colleagues wrestle not only with the abstraction of code but with the unpredictability of human behavior, especially their own. Along the way, we encounter black holes, turtles,… On AmazonListen on Audible
- Implementing Domain-Driven Design Vernon Vaughn · 2013 4.05 from 1,292 ratings on Goodreads Developer tools and open source About the book “For software developers of all experience levels looking to improve their results, and design and implement domain-driven enterprise applications consistently with the best current state of professional practice, Implementing Domain-Driven Design will impart a treasure trove of… On AmazonListen on Audible
- Practices of an Agile Developer Venkat Subramaniam · 2006 3.88 from 1,001 ratings on Goodreads Developer tools and open source About the book Want to be a better developer? This books collects the personal habits, ideas, and approaches of successful agile software developers and presents them in a series of short, easy-to-digest tips. This isn't academic fluff; follow these ideas and you'll show yourself, your… On AmazonListen on Audible
- Developer Hegemony: The Future of Labor Erik Dietrich · 2017 4.02 from 475 ratings on Goodreads Developer tools and open source About the book It’s been said that software is eating the planet. The modern economy, the world itself, relies on technology. Demand for the people who can produce it far outweighs the supply. So why do developers occupy largely subordinate roles in the corporate structure? Developer Hegemony… On AmazonListen on Audible

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about PE firms backing Developer Tools

### Who are the most active PE firms backing Developer Tools?

By cheques observed, the most active are Gaingels, Citibank, Pioneer Fund, Morgan Stanley Investment Management and General Atlantic.

### How many PE firms backing Developer Tools are there?

69 are on record. 90% made an investment in the last 12 months and 54% have led a round.

### Which stages do PE firms backing Developer Tools back?

Of the rounds with a named stage in the last 12 months, mostly Seed (19%) and Series A (17%).

### How big are the rounds PE firms backing Developer Tools join?

The typical (median) round among the leading investors here is $25M.

### Which sectors do PE firms backing Developer Tools back most?

In the last 12 months, mostly AI, Fintech and Big Data & Analytics.

### Which PE firms backing Developer Tools lead the most rounds?

General Atlantic (32 led), GIC (17 led) and Goldman Sachs Alternatives (13 led).

### Where are PE firms backing Developer Tools based?

Among the most active, most are based in the United States (15), the United Kingdom (3) and France (1).

### What have PE firms backing Developer Tools invested in recently?

Recent rounds include T-Therapeutics (Series B, Nov 2026, with Business Growth Fund), Nyquis (Seed, Nov 2026, with Pioneer Fund) and Cowboy (Seed, Nov 2026, with ANAGRAM).

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