# Startup studios at Series A (2026 list) > 20 startup studios at Series A, 80% active in the last 12 months. Led by AlleyCorp, The Spartan Group, PSV. Ranked by what they funded. Source: https://millionrounds.com/lists/startup-studios-at-series-a (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Startup studios at Series A Updated 7 November 2026 Startup studios we have watched take part in a Series A round in the last two years. [See all 20 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fstartup-studios-at-series-a)The top 20 **20** investors on the list No change this week **70** cheques in 12 months *+11%* against the market **$15M** median round they joined *+88%* against the market median **80%** wrote a cheque in 12 months **40%** have led a round ## The Top 20 Ordered by cheques observed, never by anything anyone paid for Deploying now (16) - 1 [AlleyCorp](https://millionrounds.com/fund/alleycorp) *Deploying now* Venture studio · United States **122** **$10M** median round **Sept 2026** last seen - 2 [The Spartan Group](https://millionrounds.com/fund/the-spartan-group) *Deploying now* Venture studio · Hong Kong SAR China **94** **$4.5M** median round **Jul 2026** last seen - 3 [PSV](https://millionrounds.com/fund/psv) *Deploying now* Venture studio · Denmark **84** **$2.5M** median round **Oct 2026** last seen - 4 [Hexa](https://millionrounds.com/fund/hexa) *Deploying now* Venture studio · France **12** **$7.4M** median round **Oct 2026** last seen - 5 [Ace Ventures](https://millionrounds.com/fund/ace-ventures-2) *Deploying now* Venture studio · United Kingdom **10** **$12M** median round **Jul 2026** last seen - 6 [CIV](https://millionrounds.com/fund/civ) *Deploying now* Venture studio · United States **5** **$50M** median round **Jul 2026** last seen - 7 [Diagram](https://millionrounds.com/fund/diagram) *Deploying now* Venture studio · Canada **5** **$15M** median round **Sept 2026** last seen - 8 [Next Wave Partners](https://millionrounds.com/fund/next-wave-partners-2) *Deploying now* Venture studio · United States **5** **$13M** median round **Aug 2026** last seen - 9 [Emerge Ventures](https://millionrounds.com/fund/emerge-ventures) *Deploying now* Venture studio · Brazil **3** **$28M** median round **Oct 2026** last seen - 10 [Pharsalus Capital](https://millionrounds.com/fund/pharsalus-capital) *Deploying now* Venture studio · United States **2** **$45M** median round **Sept 2026** last seen - 11 [Aoki Labs](https://millionrounds.com/fund/aoki-labs) quiet Venture studio **1** **$40M** median round **Jan 2025** last seen - 12 [Conifer Infrastructure Partners](https://millionrounds.com/fund/conifer-infrastructure-partners) *Deploying now* Venture studio · United States **1** **$26M** median round **Apr 2026** last seen - 13 [Edge Ventures](https://millionrounds.com/fund/edge-ventures-3) *Deploying now* Venture studio · United States **1** **$27M** median round **Mar 2026** last seen - 14 [Endeavor Fwd Fund](https://millionrounds.com/fund/endeavor-fwd-fund) quiet Venture studio · United States **1** **$13M** median round **Nov 2024** last seen - 15 [Founders Catalyst](https://millionrounds.com/fund/founders-catalyst) *Deploying now* Venture studio · United States **1** **-** median round **Jun 2026** last seen - 16 [Foxglove Capital](https://millionrounds.com/fund/foxglove-capital) *Deploying now* Venture studio · Australia **1** **$8M** median round **Oct 2026** last seen - 17 [Scale-Up Endeavor](https://millionrounds.com/fund/scale-up-endeavor) quiet Venture studio · United States **1** **$7.5M** median round **Sept 2025** last seen - 18 [The Production Board](https://millionrounds.com/fund/the-production-board) *Deploying now* Venture studio · United States **1** **$135M** median round **Jun 2026** last seen - 19 [Vertex](https://millionrounds.com/fund/vertex-2) quiet Venture studio · Lithuania **1** **$18M** median round **Apr 2025** last seen - 20 [Previously Unavailable](https://millionrounds.com/fund/previously-unavailable) *Deploying now* Venture studio **1** **$20M** median round **Oct 2026** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **27** Oct **[Cortas](https://millionrounds.com/company/cortas)** Pre-seed · $1.6M *Led by* [PSV](https://millionrounds.com/fund/psv) - **23** Oct **Mave** Series A · $28M *With* [Emerge Ventures](https://millionrounds.com/fund/emerge-ventures) - **22** Oct **Mave Security Ltd.** Series A · $34M *Led by* [Emerge Ventures](https://millionrounds.com/fund/emerge-ventures) - **22** Oct **[Cuttable](https://millionrounds.com/company/cuttable)** Series A · $20M *With* [Previously Unavailable](https://millionrounds.com/fund/previously-unavailable) - **20** Oct **[HydRegen](https://millionrounds.com/company/hydregen)** Series A · $8M *With* [Foxglove Capital](https://millionrounds.com/fund/foxglove-capital) - **15** Oct **[Solvera](https://millionrounds.com/company/solvera)** Pre-seed · $6.3M *With* [PSV](https://millionrounds.com/fund/psv) ## Stages This Year 70 rounds - Series A **34%** - Seed **27%** - Pre-seed **9%** - Other **7%** - Venture **6%** - Other **17%** ## What They Backed Sectors, last 12 months - AI **26** - Fintech **10** - Healthcare **8** - Robotics **5** - Hardware & Electronics **4** - Big Data & Analytics **4** ## Cheques by Quarter Led Joined 14 Q1 25 19 Q2 25 15 Q3 25 21 Q4 25 19 Q1 26 16 Q2 26 19 Q3 26 7 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms at early stage 6,133](https://millionrounds.com/lists/vc-firms-at-early-stage) - [VC firms at seed 3,708](https://millionrounds.com/lists/vc-firms-at-seed) - [VC firms at Series A 3,249](https://millionrounds.com/lists/vc-firms-at-series-a) - [VC firms at pre-seed 1,689](https://millionrounds.com/lists/vc-firms-at-pre-seed) - [VC firms at Series B 1,595](https://millionrounds.com/lists/vc-firms-at-series-b) - [VC firms at growth 1,005](https://millionrounds.com/lists/vc-firms-at-growth) - [VC firms at Series C 958](https://millionrounds.com/lists/vc-firms-at-series-c) - [PE firms at growth 772](https://millionrounds.com/lists/pe-firms-at-growth) - [PE firms at Series B 700](https://millionrounds.com/lists/pe-firms-at-series-b) [All investor lists *→*](https://millionrounds.com/lists) ## Reading for founders at Series A - Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies Reid Hoffman · 2018 3.95 from 7,118 ratings on Goodreads Scaling and operations Leading and managing Moats and competition About the book Foreword by Bill Gates LinkedIn cofounder, legendary investor, and host of the award-winning Masters of Scale podcast reveals the secret to starting and scaling massively valuable companies. What entrepreneur or founder doesn’t aspire to build the next Amazon, Facebook, or… On AmazonListen on Audible - One Page Talent Management: Eliminating Complexity, Adding Value Marc Effron · 2010 4.00 from 311 ratings on Goodreads Leading and managing Hiring and culture Scaling and operations About the book A Revolutionary Approach to Talent Management You know that winning in today’s marketplace requires top quality talent. You also know what it takes to build that talent, and you spend significant financial and human resources to make it happen. Yet somehow, your company’s… On AmazonListen on Audible - The Sales Development Playbook: Build Repeatable Pipeline and Accelerate Growth with Inside Sales Trish Bertuzzi · 2016 4.18 from 696 ratings on Goodreads First sales Hiring and culture About the book Raise your hand if your company needs more new customers. I suspect your hand is (figuratively) up. This book is about not just growth, but high-growth, explosive-growth, the kind of growth that weather satellites can see from space. The success of any business-to-business… On AmazonListen on Audible - The Culture Code: The Secrets of Highly Successful Groups Daniel Coyle · 2017 4.24 from 37,412 ratings on Goodreads Hiring and culture Leading and managing About the book What do Pixar, Google and the San Antonio Spurs basketball team have in common?The answer is that they all owe their extraordinary success to their team-building skills. In The Culture Code, Daniel Coyle goes inside some of the most effective organisations in the world and… On AmazonListen on Audible More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&stage=series_a). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about startup studios at Series A ### Who are the most active startup studios at Series A? By cheques observed, the most active are AlleyCorp, The Spartan Group, PSV, Hexa and Ace Ventures. ### How many startup studios at Series A are there? 20 are on record. 80% made an investment in the last 12 months and 40% have led a round. ### Which stages do startup studios at Series A back? Of the rounds with a named stage in the last 12 months, mostly Series A (41%) and Seed (32%). ### How big are the rounds startup studios at Series A join? The typical (median) round among the leading investors here is $15M. ### Which sectors do startup studios at Series A back most? In the last 12 months, mostly AI, Fintech and Healthcare. ### Which startup studios at Series A lead the most rounds? AlleyCorp (6 led), Diagram (5 led) and PSV (1 led). ### Where are startup studios at Series A based? Among the most active, most are based in the United States (10), Hong Kong SAR China (1) and Denmark (1). ### What have startup studios at Series A invested in recently? Recent rounds include Cortas (Pre-seed, Oct 2026, with PSV), Mave (Series A, Oct 2026, with Emerge Ventures) and Mave Security Ltd. (Series A, Oct 2026, with Emerge Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)