# PE firms backing Oil & Gas (2026 list) > 34 PE firms backing Oil & Gas, 74% active in the last 12 months. Led by Gaingels, Pioneer Fund, Franklin Templeton. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-oil-gas (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms backing Oil & Gas Updated 7 November 2026 PE firms we have observed in an oil & Gas round in the last two years. [See all 34 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-oil-gas)The top 25 **34** investors on the list *-2* this week **528** cheques in 12 months *-7%* against the market **$41M** median round they joined *+417%* against the market median **74%** wrote a cheque in 12 months **56%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (22) - 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 [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton) *Deploying now* Private equity · United States **198** **$64M** median round **Nov 2026** last seen - 4 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen - 5 [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) *Deploying now* Private equity · United States **136** **$400M** median round **Nov 2026** last seen - 6 [Forbion Capital Partners](https://millionrounds.com/fund/forbion-capital-partners) *Deploying now* Private equity · Netherlands **134** **$88M** median round **Oct 2026** last seen - 7 [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) *Deploying now* Private equity · United States **94** **$12M** median round **Sept 2026** last seen - 8 [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 - 9 [National Bank of Canada](https://millionrounds.com/fund/national-bank-of-canada) *Deploying now* Private equity · Canada **77** **$74M** median round **Sept 2026** last seen - 10 [Blackbird](https://millionrounds.com/fund/blackbird) *Deploying now* Private equity · Australia **25** **$24M** median round **Oct 2026** last seen - 11 [Hostplus](https://millionrounds.com/fund/hostplus) *Deploying now* Private equity · Australia **15** **$100M** median round **Sept 2026** last seen - 12 [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 - 13 [Bluff Point Associates](https://millionrounds.com/fund/bluff-point-associates) dormant Private equity · United States **11** **$25M** median round **Feb 2025** last seen - 14 [National Reconstruction Fund](https://millionrounds.com/fund/national-reconstruction-fund) *Deploying now* Growth equity · Australia **11** **$40M** median round **Jun 2026** last seen - 15 [Marlin Equity Partners](https://millionrounds.com/fund/marlin-equity-partners) *Deploying now* Private equity · United States **10** **$1.3B** median round **Oct 2026** last seen - 16 [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 - 17 [Standard Investments](https://millionrounds.com/fund/standard-investments) *Deploying now* Private equity · United States **7** **$135M** median round **Nov 2026** last seen - 18 [StepStone](https://millionrounds.com/fund/stepstone) *Deploying now* Private equity · United States **7** **$300M** median round **Nov 2026** last seen - 19 [Blue Earth Capital](https://millionrounds.com/fund/blue-earth-capital) quiet Private equity · Switzerland **4** **$37M** median round **Jul 2025** last seen - 20 [QIC](https://millionrounds.com/fund/qic) *Deploying now* Private equity · Australia **4** **$17M** median round **Jul 2026** last seen - 21 [Vision Blue Resources](https://millionrounds.com/fund/vision-blue-resources) *Deploying now* Private equity · United States **4** **$41M** median round **Oct 2026** last seen - 22 [Exponent](https://millionrounds.com/fund/exponent) *Deploying now* Private equity · United Kingdom **2** **-** median round **Aug 2026** last seen - 23 [Mathers Associates](https://millionrounds.com/fund/mathers-associates) *Deploying now* Private equity · United States **2** **-** median round **Nov 2025** last seen - 24 [Shaw and Partners](https://millionrounds.com/fund/shaw-and-partners) quiet Private equity · Australia **2** **$16M** median round **Jul 2025** last seen - 25 [Templewater](https://millionrounds.com/fund/templewater) *Deploying now* Private equity · Hong Kong SAR China **2** **$111M** median round **Jul 2026** last seen **9 more on this list** All 34 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-oil-gas) ## 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) - **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 **Sentra** Series C · $150M *With* [Standard Investments](https://millionrounds.com/fund/standard-investments) - **3** Nov **[Scatec](https://millionrounds.com/company/scatec)** Debt · $217M *With* [European Bank for Reconstruction and Development](https://millionrounds.com/fund/ebrd) - **3** Nov **[fal](https://millionrounds.com/company/fal)** $1.3B *With* [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) ## Stages This Year 501 rounds - Venture **22%** - Series A **14%** - Seed **12%** - Debt **11%** - Other **7%** - Other **34%** ## What They Backed Sectors, last 12 months - AI **181** - Biotech **44** - Aerospace & Space **41** - Fintech **35** - Energy **31** - Big Data & Analytics **22** ## Cheques by Quarter Led Joined 160 Q1 25 126 Q2 25 163 Q3 25 191 Q4 25 171 Q1 26 142 Q2 26 103 Q3 26 28 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 Oil & Gas ### Who are the most active PE firms backing Oil & Gas? By cheques observed, the most active are Gaingels, Pioneer Fund, Franklin Templeton, Bond and T. Rowe Price. ### How many PE firms backing Oil & Gas are there? 34 are on record. 74% made an investment in the last 12 months and 56% have led a round. ### Which stages do PE firms backing Oil & Gas back? Of the rounds with a named stage in the last 12 months, mostly Series A (21%) and Seed (18%). ### How big are the rounds PE firms backing Oil & Gas join? The typical (median) round among the leading investors here is $47M. ### Which sectors do PE firms backing Oil & Gas back most? In the last 12 months, mostly AI, Biotech and Aerospace & Space. ### Which PE firms backing Oil & Gas lead the most rounds? Bond (11 led), T. Rowe Price (11 led) and Forbion Capital Partners (10 led). ### Where are PE firms backing Oil & Gas based? Among the most active, most are based in the United States (14), Australia (5) and the United Kingdom (2). ### What have PE firms backing Oil & Gas invested in recently? Recent rounds include Soter Insure (Series B, Nov 2026, with Franklin Templeton), Nyquis (Seed, Nov 2026, with Pioneer Fund) 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)