# PE firms backing Marketplaces (2026 list)

> 41 PE firms backing Marketplaces, 83% active in the last 12 months. Led by Gaingels, Goldman Sachs, Pioneer Fund. Ranked by what they funded.

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

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

# PE firms backing Marketplaces

Updated 7 November 2026

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

[See all 41 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-marketplace)The top 25

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

**695** cheques in 12 months *-7%* against the market

**$36M** median round they joined *+344%* against the market median

**83%** wrote a cheque in 12 months

**59%** 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 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** 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 [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 [DST Global](https://millionrounds.com/fund/dst-global) *Deploying now* Private equity · United Kingdom **158** **$81M** median round **Oct 2026** last seen
- 7 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen
- 8 [Fin Capital](https://millionrounds.com/fund/fin-capital) *Deploying now* Private equity · United States **120** **$15M** median round **Sept 2026** last seen
- 9 [WndrCo](https://millionrounds.com/fund/wndrco) *Deploying now* Private equity · United States **114** **$15M** median round **Sept 2026** last seen
- 10 [Blackstone Group](https://millionrounds.com/fund/blackstone-group) *Deploying now* Private equity · United States **98** **$200M** median round **Sept 2026** last seen
- 11 [European Bank for Reconstruction and Development](https://millionrounds.com/fund/ebrd) *Deploying now* Private equity · United Kingdom **91** **$35M** median round **Nov 2026** last seen
- 12 [Breyer Capital](https://millionrounds.com/fund/breyer-capital) *Deploying now* Private equity · United States **69** **$24M** median round **Oct 2026** last seen
- 13 [Fortress Investment](https://millionrounds.com/fund/fortress-investment-group) *Deploying now* Private equity · United States **61** **$100M** median round **Sept 2026** last seen
- 14 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen
- 15 [Eldridge](https://millionrounds.com/fund/eldridge) *Deploying now* Private equity · United States **53** **$50M** median round **Oct 2026** last seen
- 16 [Durable Capital Partners Lp](https://millionrounds.com/fund/durable-capital-partners) *Deploying now* Private equity · United States **13** **$300M** median round **Oct 2026** last seen
- 17 [EBRD VC](https://millionrounds.com/fund/ebrd-vc) *Deploying now* Growth equity · United Kingdom **13** **$17M** median round **Jul 2026** last seen
- 18 [Morningstar](https://millionrounds.com/fund/morningstar) quiet Private equity · United States **12** **$23M** median round **Oct 2025** last seen
- 19 [Mobeus Equity Partners](https://millionrounds.com/fund/mobeus) *Deploying now* Private equity · United Kingdom **11** **$11M** median round **Jul 2026** last seen
- 20 [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
- 21 [Argentum Capital Partners](https://millionrounds.com/fund/argentum-capital-partners) *Deploying now* Growth equity · United States **7** **$10M** median round **Oct 2026** last seen
- 22 [Systemiq capital](https://millionrounds.com/fund/systemiq-capital) *Deploying now* Private equity · United Kingdom **7** **$16M** median round **Oct 2026** last seen
- 23 [Norrsken22](https://millionrounds.com/fund/norrsken22) *Deploying now* Private equity · United States **6** **$8.9M** median round **Sept 2026** last seen
- 24 [Hercules](https://millionrounds.com/fund/hercules) quiet Private equity **6** **$53M** median round **Apr 2025** last seen
- 25 [ANAGRAM](https://millionrounds.com/fund/anagram) *Deploying now* Private equity · United States **5** **$10M** median round **Nov 2026** last seen

**16 more on this list**

All 41 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-marketplace)

## The Newest Cheques

Rounds this list's investors joined most recently

- **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)
- **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *Led by* [WCM Investment Management](https://millionrounds.com/fund/wcm-investment-management)
- **4** Nov **[Rivio](https://millionrounds.com/company/rivio)** Series A *With* [Positive Ventures](https://millionrounds.com/fund/positive-ventures)
- **3** Nov **[Scatec](https://millionrounds.com/company/scatec)** Debt · $217M *With* [European Bank for Reconstruction and Development](https://millionrounds.com/fund/ebrd)
- **2** Nov **[General Medicine](https://millionrounds.com/company/general-medicine)** Series B · $120M *With* [Mercy Health through Granger Management](https://millionrounds.com/fund/mercy-health-through-granger-management)

## Stages This Year

645 rounds

- Venture **20%**
- Debt **15%**
- Series A **13%**
- Seed **11%**
- Growth **8%**
- Other **31%**

## What They Backed

Sectors, last 12 months

- AI **243**
- Fintech **58**
- Aerospace & Space **42**
- Big Data & Analytics **39**
- Financial Services **38**
- Biotech **33**

## Cheques by Quarter

Led Joined

209 Q1 25

177 Q2 25

200 Q3 25

244 Q4 25

247 Q1 26

185 Q2 26

128 Q3 26

32 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 marketplace or platform

- The Business of Platforms: Strategy in the Age of Digital Competition, Innovation, and Power – The Essential Economics and Management Guide for Tech Entrepreneurs Michael A. Cusumano · 2019 3.87 from 389 ratings on Goodreads Marketplace or platform About the book A trio of experts on high-tech business strategy and innovation reveal the principles that have made platform businesses the most valuable firms in the world and the first trillion-dollar companies. Managers and entrepreneurs in the digital era must learn to live in two… On AmazonListen on Audible
- Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry's Big Kahuna Mike Michalowicz · 2016 4.13 from 209 ratings on Goodreads Marketplace or platform About the book To achieve the ultimate in entrepreneurial breakthrough success requires an uncanny ability to spot the next big wave of consumer demand - but how do you do that? For most small business owners, the true cash cows seem to be reserved for lucky people who were in the right place… On AmazonListen on Audible
- Trailblazer: The Power of Business as the Greatest Platform for Change [Marc Benioff](https://millionrounds.com/person/marc-benioff) · 2019 3.81 from 2,358 ratings on Goodreads Marketplace or platform About the book NEW YORK TIMES BESTSELLER • The founder and co-CEO of Salesforce delivers an inspiring vision for successful companies of the future, in which changing the world is everyone’s business.“An urgent and compelling book for anyone in business who yearns to fulfill a higher mission in… On AmazonListen on Audible
- Sams Teach Yourself SQL™ in 10 Minutes Ben Forta · 1999 4.09 from 1,187 ratings on Goodreads Marketplace or platform About the book Sams Teach Yourself SQL in 10 Minutes has established itself as the gold standard for introductory SQL books, offering a fast-paced accessible tutorial to the major themes and techniques involved in applying the SQL language. Forta¿s examples are clear and his writing style is… On AmazonListen on Audible

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about PE firms backing Marketplaces

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

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

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

41 are on record. 83% made an investment in the last 12 months and 59% have led a round.

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

Of the rounds with a named stage in the last 12 months, mostly Debt (22%) and Series A (19%).

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

The typical (median) round among the leading investors here is $35M.

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

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

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

General Atlantic (32 led), Goldman Sachs (22 led) and EBRD VC (13 led).

### Where are PE firms backing Marketplaces based?

Among the most active, most are based in the United States (17), the United Kingdom (6) and Germany (1).

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

Recent rounds include Nyquis (Seed, Nov 2026, with Pioneer Fund), Cowboy (Seed, Nov 2026, with ANAGRAM) and Zipline (Growth, Nov 2026, with WCM Investment Management).

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