# PE firms backing Fashion (2026 list)

> 32 PE firms backing Fashion, 88% active in the last 12 months. Led by Gaingels, Pioneer Fund, IDG Capital. Ranked by what they funded.

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

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

# PE firms backing Fashion

Updated 7 November 2026

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

[See all 32 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-fashion)The top 25

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

**685** cheques in 12 months *0%* against the market

**$20M** median round they joined *+144%* against the market median

**88%** 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 (23)

- 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 [IDG Capital](https://millionrounds.com/fund/idg-capital) *Deploying now* Private equity · China **504** **$25M** median round **Oct 2026** last seen
- 4 [General Atlantic](https://millionrounds.com/fund/general-atlantic) *Deploying now* Private equity · United States **273** **$127M** median round **Oct 2026** last seen
- 5 [HSBC](https://millionrounds.com/fund/hsbc) *Deploying now* Growth equity · United Kingdom **234** **$45M** median round **Oct 2026** last seen
- 6 [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton) *Deploying now* Private equity · United States **198** **$64M** median round **Nov 2026** last seen
- 7 [Eurazeo](https://millionrounds.com/fund/eurazeo) *Deploying now* Private equity · France **150** **$28M** median round **Oct 2026** last seen
- 8 [Forbion Capital Partners](https://millionrounds.com/fund/forbion-capital-partners) *Deploying now* Private equity · Netherlands **134** **$88M** median round **Oct 2026** last seen
- 9 [L Catterton](https://millionrounds.com/fund/l-catterton) *Deploying now* Private equity · United States **110** **$34M** median round **Oct 2026** last seen
- 10 [Better Capital](https://millionrounds.com/fund/better-capital) *Deploying now* Private equity · United Kingdom **97** **$2.5M** median round **Oct 2026** last seen
- 11 [Iconiq Capital](https://millionrounds.com/fund/iconiq-capital-3) *Deploying now* Growth equity · Sri Lanka **87** **$75M** median round **Sept 2026** last seen
- 12 [Human Capital](https://millionrounds.com/fund/human-capital-2) *Deploying now* Growth equity · New Zealand **81** **$24M** median round **Oct 2026** last seen
- 13 [Space Capital](https://millionrounds.com/fund/space-capital-2) *Deploying now* Private equity · Italy **79** **$12M** median round **Oct 2026** last seen
- 14 [LB Investment](https://millionrounds.com/fund/lb-investment) *Deploying now* Private equity · South Korea **72** **$11M** median round **Nov 2026** last seen
- 15 [Ares Management](https://millionrounds.com/fund/ares-management) *Deploying now* Growth equity · United States **68** **$162M** median round **Sept 2026** last seen
- 16 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen
- 17 [UI Investissement](https://millionrounds.com/fund/ui-investissement) *Deploying now* Private equity · France **52** **$5.6M** median round **Jul 2026** last seen
- 18 [Closed Loop Partners](https://millionrounds.com/fund/closed-loop-partners) *Deploying now* Private equity · United States **9** **$4.8M** median round **Oct 2026** last seen
- 19 [Ellerston Capital](https://millionrounds.com/fund/ellerston-capital) *Deploying now* Private equity · Australia **7** **$15M** median round **Dec 2025** last seen
- 20 [Convergent Finance](https://millionrounds.com/fund/convergent-finance-llp) quiet Private equity · India **4** **$19M** median round **Aug 2025** last seen
- 21 [Fundamentum](https://millionrounds.com/fund/fundamentum-2) *Deploying now* Growth equity · United States **4** **$38M** median round **Oct 2026** last seen
- 22 [Multiples](https://millionrounds.com/fund/multiples-alternate-asset-management) *Deploying now* Private equity · India **4** **$125M** median round **Nov 2026** last seen
- 23 [Vertex Ventures SEA & India](https://millionrounds.com/fund/vertex-ventures-sea-and-india) *Deploying now* Growth equity **3** **$20M** median round **Oct 2026** last seen
- 24 [mediaforgrowth (MFG)](https://millionrounds.com/fund/mediaforgrowth-mfg) quiet Growth equity · United States **2** **$3.7M** median round **Sept 2025** last seen
- 25 [B&K Securities](https://millionrounds.com/fund/b-and-k-securities) *Deploying now* Growth equity **1** **$11M** median round **Oct 2026** last seen

**7 more on this list**

All 32 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-fashion)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton)
- **5** Nov **[Nyquis](https://millionrounds.com/company/nyquis)** Seed · $6.3M *With* [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2)
- **3** Nov **[GIVA](https://millionrounds.com/company/giva)** Other · $100M *Led by* [Multiples](https://millionrounds.com/fund/multiples-alternate-asset-management)
- **3** Nov **[TDS Innovation](https://millionrounds.com/company/tds-innovation)** Pre-seed · $4.8M *Led by* [LB Investment](https://millionrounds.com/fund/lb-investment)
- **30** Oct **[Neoen](https://millionrounds.com/company/neoen)** Debt · $1.3B *With* [HSBC](https://millionrounds.com/fund/hsbc)
- **30** Oct **[Complaion](https://millionrounds.com/company/complaion)** Other *Led by* [Eurazeo](https://millionrounds.com/fund/eurazeo)

## Stages This Year

647 rounds

- Venture **24%**
- Series A **14%**
- Seed **13%**
- Debt **11%**
- Other **8%**
- Other **30%**

## What They Backed

Sectors, last 12 months

- AI **220**
- Biotech **57**
- Aerospace & Space **45**
- Fintech **44**
- Financial Services **29**
- Healthcare **28**

## Cheques by Quarter

Led Joined

173 Q1 25

164 Q2 25

195 Q3 25

250 Q4 25

228 Q1 26

179 Q2 26

122 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)

## Reading for founders in retail and fashion

- Lovemarks The Future Beyond Brands Kevin Roberts · 2004 3.86 from 1,497 ratings on Goodreads Retail and fashion Company building About the book "Ideas move mountains, especially in turbulent times. Lovemarks is the product of the fertile-iconoclast mind of Kevin Roberts, CEO Worldwide of Saatchi & Saatchi. Roberts argues vociferously, and with a ton of data to support him, that traditional branding practices have become… On AmazonListen on Audible
- Fashion entrepreneurship Michele Granger, Tina Sterling · 2002 On 15 reading lists at Open Library Retail and fashion Company building On AmazonListen on AudibleOn Open Library
- Retail Gangster: The Insane, Real-Life Story of Crazy Eddie Gary Weiss · 2022 3.90 from 1,120 ratings on Goodreads Retail and fashion Company building About the book A biography of the spectacular rise and fall of Eddie Antar, better known as "Crazy Eddie," whose home electronics empire changed the world even as it turned out to be one of the biggest business scams of all timeBack in the fall of 2016 we heard the news about the passing of… On AmazonListen on Audible
- The Everything Store: Jeff Bezos and the Age of Amazon Brad Stone · 2013 4.13 from 78,706 ratings on Goodreads Retail and fashion Company building About the book The definitive story of Amazon.com, one of the most successful companies in the world, and of its driven, brilliant founder, Jeff Bezos. Amazon.com started off delivering books through the mail. But its visionary founder, Jeff Bezos, wasn't content with being a bookseller. He… On AmazonListen on Audible

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about PE firms backing Fashion

### Who are the most active PE firms backing Fashion?

By cheques observed, the most active are Gaingels, Pioneer Fund, IDG Capital, General Atlantic and HSBC.

### How many PE firms backing Fashion are there?

32 are on record. 88% made an investment in the last 12 months and 66% have led a round.

### Which stages do PE firms backing Fashion back?

Of the rounds with a named stage in the last 12 months, mostly Series A (22%) and Seed (20%).

### How big are the rounds PE firms backing Fashion join?

The typical (median) round among the leading investors here is $24M.

### Which sectors do PE firms backing Fashion back most?

In the last 12 months, mostly AI, Biotech and Aerospace & Space.

### Which PE firms backing Fashion lead the most rounds?

General Atlantic (32 led), Eurazeo (10 led) and Forbion Capital Partners (10 led).

### Where are PE firms backing Fashion based?

Among the most active, most are based in the United States (9), the United Kingdom (2) and France (2).

### What have PE firms backing Fashion invested in recently?

Recent rounds include Soter Insure (Series B, Nov 2026, with Franklin Templeton), Nyquis (Seed, Nov 2026, with Pioneer Fund) and GIVA (Other, Nov 2026, with Multiples).

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