# PE firms backing Drones (2026 list) > 44 PE firms backing Drones, 91% active in the last 12 months. Led by Gaingels, Pioneer Fund, TPG. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-drone (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms backing Drones Updated 7 November 2026 PE firms we have observed in a drones round in the last two years. [See all 44 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-drone)The top 25 **44** investors on the list *+2* this week **576** cheques in 12 months *-1%* against the market **$94M** median round they joined *+1078%* against the market median **91%** wrote a cheque in 12 months **48%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (24) - 1 [Gaingels](https://millionrounds.com/fund/gaingels) *Deploying now* Private equity · United States **1,010** **$8M** median round **Oct 2026** last seen - 2 [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) *Deploying now* Private equity · United States **551** **$2.9M** median round **Nov 2026** last seen - 3 [TPG](https://millionrounds.com/fund/tpg) *Deploying now* Private equity · United States **205** **$91M** median round **Nov 2026** last seen - 4 [Altair Capital](https://millionrounds.com/fund/altair-capital-2) *Deploying now* Private equity · Singapore **196** **$2.9M** median round **Oct 2026** last seen - 5 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen - 6 [Pritzker Group](https://millionrounds.com/fund/pritzker-group) *Deploying now* Private equity · United States **146** **$17M** median round **Nov 2026** last seen - 7 [S2G Investments](https://millionrounds.com/fund/s2g-investments) *Deploying now* Growth equity · United States **102** **$16M** median round **Oct 2026** last seen - 8 [Blackstone Group](https://millionrounds.com/fund/blackstone-group) *Deploying now* Private equity · United States **98** **$200M** median round **Sept 2026** last seen - 9 [GIC](https://millionrounds.com/fund/gic) *Deploying now* Private equity · Singapore **92** **$200M** median round **Oct 2026** last seen - 10 [Advent International](https://millionrounds.com/fund/advent-international) *Deploying now* Private equity · United States **59** **$740M** median round **Oct 2026** last seen - 11 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen - 12 [Washington Harbour Partners Lp](https://millionrounds.com/fund/washington-harbour-partners-lp) *Deploying now* Private equity · United States **52** **$60M** median round **Nov 2026** last seen - 13 [Raptor Group](https://millionrounds.com/fund/raptor-group) *Deploying now* Private equity · United States **50** **$15M** median round **Sept 2026** last seen - 14 [SL Investment](https://millionrounds.com/fund/sl-investment) *Deploying now* Private equity · United States **46** **$7.3M** median round **Mar 2026** last seen - 15 [Dragoneer Investment](https://millionrounds.com/fund/dragoneer-investment-group) *Deploying now* Private equity · United States **39** **$500M** median round **Oct 2026** last seen - 16 [Aozora Corporate Investment](https://millionrounds.com/fund/aozora-corporate-investment) *Deploying now* Private equity · Japan **34** **$6.7M** median round **Sept 2026** last seen - 17 [Archangel](https://millionrounds.com/fund/archangel) *Deploying now* Private equity · United States **28** **$38M** median round **Oct 2026** last seen - 18 [IRDI SORIDEC Gestion](https://millionrounds.com/fund/irdi-soridec-gestion) *Deploying now* Private equity · France **25** **$4.4M** median round **May 2026** last seen - 19 [• Ark Invest](https://millionrounds.com/fund/ark-invest) *Deploying now* Growth equity · Georgia **17** **$540M** median round **Nov 2026** last seen - 20 [Hostplus](https://millionrounds.com/fund/hostplus) *Deploying now* Private equity · Australia **15** **$100M** median round **Sept 2026** last seen - 21 [WCM Investment Management](https://millionrounds.com/fund/wcm-investment-management) *Deploying now* Growth equity · United States **10** **$1.2B** median round **Nov 2026** last seen - 22 [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 - 23 [Palantir](https://millionrounds.com/fund/palantir) quiet Growth equity **5** **$300M** median round **Aug 2025** last seen - 24 [QIC](https://millionrounds.com/fund/qic) *Deploying now* Private equity · Australia **4** **$17M** median round **Jul 2026** last seen - 25 [Apandion](https://millionrounds.com/fund/apandion) *Deploying now* Growth equity **4** **$1.3B** median round **Aug 2026** last seen **19 more on this list** All 44 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-drone) ## 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) - **6** Nov **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *With* [Pritzker Group](https://millionrounds.com/fund/pritzker-group) - **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [• Ark Invest](https://millionrounds.com/fund/ark-invest) - **5** Nov **[Nyquis](https://millionrounds.com/company/nyquis)** Seed · $6.3M *With* [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) - **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *Led by* [WCM Investment Management](https://millionrounds.com/fund/wcm-investment-management) - **2** Nov **[Northwood Space](https://millionrounds.com/company/northwood-space)** Series C · $375M *With* [Washington Harbour Partners Lp](https://millionrounds.com/fund/washington-harbour-partners-lp) ## Stages This Year 524 rounds - Venture **22%** - Series A **13%** - Seed **13%** - Growth **9%** - Series B **9%** - Other **35%** ## What They Backed Sectors, last 12 months - AI **210** - Aerospace & Space **55** - Fintech **42** - Defence Tech **30** - Big Data & Analytics **30** - Biotech **28** ## Cheques by Quarter Led Joined 157 Q1 25 126 Q2 25 165 Q3 25 202 Q4 25 185 Q1 26 146 Q2 26 119 Q3 26 39 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 Drones ### Who are the most active PE firms backing Drones? By cheques observed, the most active are Gaingels, Pioneer Fund, TPG, Altair Capital and Bond. ### How many PE firms backing Drones are there? 44 are on record. 91% made an investment in the last 12 months and 48% have led a round. ### Which stages do PE firms backing Drones back? Of the rounds with a named stage in the last 12 months, mostly Series A (20%) and Seed (19%). ### How big are the rounds PE firms backing Drones join? The typical (median) round among the leading investors here is $47M. ### Which sectors do PE firms backing Drones back most? In the last 12 months, mostly AI, Aerospace & Space and Fintech. ### Which PE firms backing Drones lead the most rounds? GIC (17 led), TPG (11 led) and Bond (11 led). ### Where are PE firms backing Drones based? Among the most active, most are based in the United States (14), Singapore (2) and Australia (2). ### What have PE firms backing Drones invested in recently? Recent rounds include Arka Fincap (Other, Nov 2026, with TPG), Ocient (Series C, Nov 2026, with Pritzker Group) and firmly (Series A, 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)