# PE firms backing Retail (2026 list) > 57 PE firms backing Retail, 88% active in the last 12 months. Led by Gaingels, Goldman Sachs, Citibank. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-retail (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms backing Retail Updated 7 November 2026 PE firms we have observed in a retail round in the last two years. [See all 57 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-retail)The top 25 **57** investors on the list *+1* this week **719** cheques in 12 months *+1%* against the market **$35M** median round they joined *+341%* against the market median **88%** wrote a cheque in 12 months **61%** 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 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** median round **Oct 2026** last seen - 3 [Citibank](https://millionrounds.com/fund/citi) *Deploying now* Growth equity · United States **566** **$20M** median round **Oct 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 [HSBC](https://millionrounds.com/fund/hsbc) *Deploying now* Growth equity · United Kingdom **234** **$45M** median round **Oct 2026** last seen - 7 [DST Global](https://millionrounds.com/fund/dst-global) *Deploying now* Private equity · United Kingdom **158** **$81M** median round **Oct 2026** last seen - 8 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** 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 [L Catterton](https://millionrounds.com/fund/l-catterton) *Deploying now* Private equity · United States **110** **$34M** median round **Oct 2026** last seen - 11 [Better Capital](https://millionrounds.com/fund/better-capital) *Deploying now* Private equity · United Kingdom **97** **$2.5M** median round **Oct 2026** last seen - 12 [GIC](https://millionrounds.com/fund/gic) *Deploying now* Private equity · Singapore **92** **$200M** median round **Oct 2026** last seen - 13 [Bain Capital](https://millionrounds.com/fund/bain-capital) *Deploying now* Private equity · United States **58** **$50M** median round **Aug 2026** last seen - 14 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen - 15 [Flashpoint](https://millionrounds.com/fund/flashpoint-2) *Deploying now* Growth equity · United Kingdom **50** **$7M** median round **May 2026** last seen - 16 [Five V Capital](https://millionrounds.com/fund/five-v-capital) *Deploying now* Private equity · Australia **32** **$13M** median round **Jun 2026** last seen - 17 [Goldman Sachs Alternatives](https://millionrounds.com/fund/goldman-sachs-alternatives) *Deploying now* Growth equity **24** **$110M** median round **Oct 2026** last seen - 18 [• Ark Invest](https://millionrounds.com/fund/ark-invest) *Deploying now* Growth equity · Georgia **17** **$540M** median round **Nov 2026** last seen - 19 [Partners Group](https://millionrounds.com/fund/partners-group) *Deploying now* Private equity · Switzerland **14** **$140M** median round **Oct 2026** last seen - 20 [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 - 21 [Ellerston Capital](https://millionrounds.com/fund/ellerston-capital) *Deploying now* Private equity · Australia **7** **$15M** median round **Dec 2025** last seen - 22 [GEF Capital Partners](https://millionrounds.com/fund/gef-capital-partners) *Deploying now* Private equity · United States **7** **$66M** median round **Aug 2026** last seen - 23 [Sabadell](https://millionrounds.com/fund/sabadell) quiet Growth equity **7** **$12M** median round **Dec 2024** last seen - 24 [NewRoad Capital Partners](https://millionrounds.com/fund/newroad-capital-partners) *Deploying now* Private equity · United States **6** **$14M** median round **Jul 2026** last seen - 25 [Glade Brook](https://millionrounds.com/fund/glade-brook) *Deploying now* Private equity · United States **6** **$265M** median round **Jul 2026** last seen **32 more on this list** All 57 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-retail) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [• Ark Invest](https://millionrounds.com/fund/ark-invest) - **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *With* [• Ark Invest](https://millionrounds.com/fund/ark-invest) - **2** Nov **[Larridin](https://millionrounds.com/company/larridin)** Series A · $30M *With* [W23 Global](https://millionrounds.com/fund/w23-global) - **30** Oct **[Neoen](https://millionrounds.com/company/neoen)** Debt · $1.3B *With* [HSBC](https://millionrounds.com/fund/hsbc) - **29** Oct **[Solink](https://millionrounds.com/company/solink)** Growth · $100M *Led by* [Vertu Capital](https://millionrounds.com/fund/vertu-capital) - **28** Oct **[Zorit](https://millionrounds.com/company/zorit)** Other · $2.8M *With* [Better Capital](https://millionrounds.com/fund/better-capital) ## Stages This Year 627 rounds - Debt **19%** - Venture **19%** - Series A **11%** - Growth **10%** - Series B **8%** - Other **34%** ## What They Backed Sectors, last 12 months - AI **207** - Fintech **64** - Financial Services **43** - Aerospace & Space **38** - Big Data & Analytics **33** - Biotech **31** ## Cheques by Quarter Led Joined 162 Q1 25 183 Q2 25 190 Q3 25 253 Q4 25 235 Q1 26 205 Q2 26 135 Q3 26 47 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 Retail ### Who are the most active PE firms backing Retail? By cheques observed, the most active are Gaingels, Goldman Sachs, Citibank, Morgan Stanley Investment Management and General Atlantic. ### How many PE firms backing Retail are there? 57 are on record. 88% made an investment in the last 12 months and 61% have led a round. ### Which stages do PE firms backing Retail back? Of the rounds with a named stage in the last 12 months, mostly Debt (28%) and Series A (16%). ### How big are the rounds PE firms backing Retail join? The typical (median) round among the leading investors here is $47M. ### Which sectors do PE firms backing Retail back most? In the last 12 months, mostly AI, Fintech and Financial Services. ### Which PE firms backing Retail lead the most rounds? General Atlantic (32 led), Goldman Sachs (22 led) and GIC (17 led). ### Where are PE firms backing Retail based? Among the most active, most are based in the United States (13), the United Kingdom (4) and Australia (2). ### What have PE firms backing Retail invested in recently? Recent rounds include firmly (Series A, Nov 2026, with • Ark Invest), Zipline (Growth, Nov 2026, with • Ark Invest) and Larridin (Series A, Nov 2026, with W23 Global). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)