# SEC-registered venture advisers (2026 list) > 4,344 SEC-registered venture advisers, 27% active in the last 12 months. Led by Y Combinator, Techstars, 500 Global. Ranked by what they funded. Source: https://millionrounds.com/lists/sec-registered-venture-advisers (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # SEC-registered venture advisers Updated 7 November 2026 Firms registered with the SEC as exempt reporting advisers, exempt from full registration precisely because they advise venture capital funds. It is the firm's own answer on a federal form, not a category we assigned. [See all 4,344 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fsec-registered-venture-advisers)The top 25 **4,344** investors on the list *+5* this week **11,768** cheques in 12 months *-9%* against the market **$14M** median round they joined *+75%* against the market median **27%** wrote a cheque in 12 months **21%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [Y Combinator](https://millionrounds.com/fund/y-combinator) *Deploying now* Accelerator · United States **6,412** **$3M** median round **Oct 2026** last seen - 2 [Techstars](https://millionrounds.com/fund/techstars) *Deploying now* VC firm · United States **2,989** **$1.2M** median round **Nov 2026** last seen - 3 [500 Global](https://millionrounds.com/fund/500-startups) *Deploying now* Angel · United States **2,140** **$3.6M** median round **Oct 2026** last seen - 4 [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) *Deploying now* VC firm · United States **1,598** **$12M** median round **Nov 2026** last seen - 5 [Plug and Play](https://millionrounds.com/fund/plug-and-play) *Deploying now* Accelerator · United States **1,561** **$5M** median round **Nov 2026** last seen - 6 [Accel](https://millionrounds.com/fund/accel) *Deploying now* VC firm · United States **1,341** **$32M** median round **Nov 2026** last seen - 7 [Bpifrance](https://millionrounds.com/fund/bpifrance) *Deploying now* Government · France **1,151** **$4.5M** median round **Oct 2026** last seen - 8 [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) *Deploying now* VC firm · United States **1,128** **$26M** median round **Nov 2026** last seen - 9 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen - 10 [Index Ventures](https://millionrounds.com/fund/index-ventures) *Deploying now* VC firm · United Kingdom **1,027** **$31M** median round **Nov 2026** last seen - 11 [Gaingels](https://millionrounds.com/fund/gaingels) *Deploying now* Private equity · United States **1,010** **$8M** median round **Oct 2026** last seen - 12 [SOSV](https://millionrounds.com/fund/sosv) *Deploying now* VC firm · United States **951** **$2.5M** median round **Nov 2026** last seen - 13 [FJ Labs](https://millionrounds.com/fund/fj-labs) *Deploying now* VC firm · United States **849** **$11M** median round **Oct 2026** last seen - 14 [BoxGroup](https://millionrounds.com/fund/boxgroup) *Deploying now* VC firm · United States **773** **$18M** median round **Nov 2026** last seen - 15 [Redpoint](https://millionrounds.com/fund/redpoint) *Deploying now* VC firm · United States **742** **$32M** median round **Nov 2026** last seen - 16 [Menlo Ventures](https://millionrounds.com/fund/menlo-ventures) *Deploying now* VC firm · United States **740** **$37M** median round **Oct 2026** last seen - 17 [Antler](https://millionrounds.com/fund/antler) *Deploying now* VC firm · United Kingdom **729** **$1M** median round **Nov 2026** last seen - 18 [Greylock](https://millionrounds.com/fund/greylock-partners) *Deploying now* VC firm · United States **719** **$25M** median round **Oct 2026** last seen - 19 [Crowdcube](https://millionrounds.com/fund/crowdcube) *Deploying now* VC firm · United Kingdom **715** **$615K** median round **Sept 2026** last seen - 20 [Felicis](https://millionrounds.com/fund/felicis-ventures) *Deploying now* VC firm · United States **640** **$20M** median round **Nov 2026** last seen - 21 [Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) *Deploying now* VC firm · United States **636** **$7M** median round **Oct 2026** last seen - 22 [Canaan](https://millionrounds.com/fund/canaan-partners) *Deploying now* VC firm · United States **610** **$20M** median round **Oct 2026** last seen - 23 [CRV](https://millionrounds.com/fund/crv) *Deploying now* VC firm · United States **588** **$20M** median round **Oct 2026** last seen - 24 [Benchmark](https://millionrounds.com/fund/benchmark) *Deploying now* VC firm · United States **587** **$30M** median round **Oct 2026** last seen - 25 [Venrock](https://millionrounds.com/fund/venrock) *Deploying now* VC firm · United States **560** **$36M** median round **Oct 2026** last seen **4,319 more on this list** All 4,344 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%2Fsec-registered-venture-advisers) ## The Newest Cheques Rounds this list's investors joined most recently - **7** Nov **[LionBio Therapeutics](https://millionrounds.com/company/lionbio-therapeutics)** Pre-seed · $6M *With* [South Park Commons](https://millionrounds.com/fund/south-park-commons) - **6** Nov **[aSand.ai](https://millionrounds.com/company/asand-ai)** Series A · $200M *Led by* [Co-Stone Capital](https://millionrounds.com/fund/co-stone-capital) - **6** Nov **[Fathom Therapeutics](https://millionrounds.com/company/fathom-therapeutics)** Round *With* [Sutter Hill Ventures](https://millionrounds.com/fund/sutter-hill-ventures) - **6** Nov **[Physicl](https://millionrounds.com/company/physicl)** Seed · $10M *Led by* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) - **6** Nov **[Humble Robotics](https://millionrounds.com/company/humble-robotics)** Series A · $51M *Led by* [Obvious Ventures](https://millionrounds.com/fund/obvious-ventures) - **6** Nov **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *With* [Buoyant Ventures](https://millionrounds.com/fund/buoyant-ventures) ## Stages This Year 6,467 rounds - Seed **22%** - Venture **19%** - Series A **18%** - Pre-seed **9%** - Series B **8%** - Other **23%** ## What They Backed Sectors, last 12 months - AI **2,732** - Fintech **436** - Biotech **416** - Healthcare **407** - Big Data & Analytics **339** - Financial Services **232** ## Cheques by Quarter Led Joined 3,271 Q1 25 3,438 Q2 25 3,552 Q3 25 3,778 Q4 25 3,627 Q1 26 3,048 Q2 26 2,664 Q3 26 969 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors whose partners we can name 32,772](https://millionrounds.com/lists/partners-we-can-name) - [Investors who publish their portfolio 17,295](https://millionrounds.com/lists/publish-their-portfolio) - [Investment firms of ten people or fewer 9,452](https://millionrounds.com/lists/small-teams) - [Emerging managers with a new fund under $50M 6,078](https://millionrounds.com/lists/emerging-managers) - [Registered investment advisers 4,214](https://millionrounds.com/lists/registered-investment-advisers) - [Investors managing over $1 billion 2,691](https://millionrounds.com/lists/managing-over-a-billion) - [Investors claiming thirty or more companies 2,226](https://millionrounds.com/lists/large-portfolios) - [Investment firms founded since 2022 2,201](https://millionrounds.com/lists/new-investment-firms) - [Investors that just raised $100M or more 1,734](https://millionrounds.com/lists/raised-a-large-fund) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about SEC-registered venture advisers ### Who are the most active SEC-registered venture advisers? By cheques observed, the most active are Y Combinator, Techstars, 500 Global, Alumni Ventures and Plug and Play. ### How many SEC-registered venture advisers are there? 4,344 are on record. 27% made an investment in the last 12 months and 21% have led a round. ### Which stages do SEC-registered venture advisers back? Of the rounds with a named stage in the last 12 months, mostly Seed (30%) and Series A (24%). ### How big are the rounds SEC-registered venture advisers join? The typical (median) round among the leading investors here is $15M. ### Which sectors do SEC-registered venture advisers back most? In the last 12 months, mostly AI, Fintech and Biotech. ### Which SEC-registered venture advisers lead the most rounds? Accel (103 led), Index Ventures (62 led) and Khosla Ventures (57 led). ### Where are SEC-registered venture advisers based? Most of the leading investors here are based in the United States (21 of the top 25); the rest in the United Kingdom and France. ### What have SEC-registered venture advisers invested in recently? Recent rounds include LionBio Therapeutics (Pre-seed, Nov 2026, with South Park Commons), aSand.ai (Series A, Nov 2026, with Co-Stone Capital) and Fathom Therapeutics (Nov 2026, with Sutter Hill Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)