# VC firms backing B2B (2026 list)

> 605 VC firms backing B2B, 86% active in the last 12 months. Led by Techstars, Sequoia Capital, Andreessen Horowitz. Ranked by what they funded.

Source: https://millionrounds.com/lists/vc-firms-b2b (Millionrounds; every figure on the page links to its filing or article)

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

# VC firms backing B2B

Updated 7 November 2026

VC firms we have observed in a B2B round in the last two years.

[See all 605 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-b2b)The top 25

**605** investors on the list *-14* this week

**10,024** cheques in 12 months *-13%* against the market

**$6.7M** median round they joined *-16%* against the market median

**86%** 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 (25)

- 1 [Techstars](https://millionrounds.com/fund/techstars) *Deploying now* VC firm · United States **2,989** **$1.2M** median round **Nov 2026** last seen
- 2 [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) *Deploying now* VC firm · United States **2,099** **$35M** median round **Nov 2026** last seen
- 3 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) *Deploying now* VC firm · United States **1,661** **$27M** median round **Nov 2026** last seen
- 4 [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) *Deploying now* VC firm · United States **1,610** **$34M** median round **Oct 2026** last seen
- 5 [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
- 6 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen
- 7 [SV Angel](https://millionrounds.com/fund/sv-angel) *Deploying now* VC firm · United States **1,349** **$18M** median round **Oct 2026** last seen
- 8 [Accel](https://millionrounds.com/fund/accel) *Deploying now* VC firm · United States **1,341** **$32M** median round **Nov 2026** last seen
- 9 [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) *Deploying now* VC firm · United States **1,341** **$35M** median round **Nov 2026** last seen
- 10 [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) *Deploying now* VC firm · United States **1,128** **$26M** median round **Nov 2026** last seen
- 11 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen
- 12 [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) *Deploying now* VC firm · United States **1,038** **$30M** median round **Nov 2026** last seen
- 13 [Index Ventures](https://millionrounds.com/fund/index-ventures) *Deploying now* VC firm · United Kingdom **1,027** **$31M** median round **Nov 2026** last seen
- 14 [SOSV](https://millionrounds.com/fund/sosv) *Deploying now* VC firm · United States **951** **$2.5M** median round **Nov 2026** last seen
- 15 [FJ Labs](https://millionrounds.com/fund/fj-labs) *Deploying now* VC firm · United States **849** **$11M** median round **Oct 2026** last seen
- 16 [Right Side Capital Management](https://millionrounds.com/fund/right-side-capital-management) *Deploying now* VC firm · United States **834** **$875K** median round **Sept 2026** last seen
- 17 [BoxGroup](https://millionrounds.com/fund/boxgroup) *Deploying now* VC firm · United States **773** **$18M** median round **Nov 2026** last seen
- 18 [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management) *Deploying now* VC firm · United States **773** **$47M** median round **Nov 2026** last seen
- 19 [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) *Deploying now* VC firm · United States **765** **$40M** median round **Oct 2026** last seen
- 20 [Redpoint](https://millionrounds.com/fund/redpoint) *Deploying now* VC firm · United States **742** **$32M** median round **Nov 2026** last seen
- 21 [Menlo Ventures](https://millionrounds.com/fund/menlo-ventures) *Deploying now* VC firm · United States **740** **$37M** median round **Oct 2026** last seen
- 22 [Antler](https://millionrounds.com/fund/antler) *Deploying now* VC firm · United Kingdom **729** **$1M** median round **Nov 2026** last seen
- 23 [Greylock](https://millionrounds.com/fund/greylock-partners) *Deploying now* VC firm · United States **719** **$25M** median round **Oct 2026** last seen
- 24 [Norwest Venture Partners](https://millionrounds.com/fund/norwest) *Deploying now* VC firm · United States **705** **$25M** median round **Oct 2026** last seen
- 25 [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) *Deploying now* VC firm · Canada **685** **$6M** median round **Sept 2026** last seen

**580 more on this list**

All 605 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%2Fvc-firms-b2b)

## The Newest Cheques

Rounds this list's investors joined most recently

- **6** Nov **[Water Ledger Global](https://millionrounds.com/company/water-ledger-global)** Other *With* [Launch Africa](https://millionrounds.com/fund/launch-africa-ventures)
- **6** Nov **[Physicl](https://millionrounds.com/company/physicl)** Seed · $10M *Led by* [Inovia Capital](https://millionrounds.com/fund/inovia-capital)
- **6** Nov **[Future Secure AI](https://millionrounds.com/company/future-secure-ai)** Other · $80M *Led by* [Square Peg](https://millionrounds.com/fund/square-peg-2)
- **6** Nov **[Humble Robotics](https://millionrounds.com/company/humble-robotics)** Series A · $51M *With* [Energy Impact Partners](https://millionrounds.com/fund/energy-impact-partners)
- **6** Nov **[Thinking Machines Lab](https://millionrounds.com/company/thinking-machines-lab)** Other · $5B *Led by* [Accel](https://millionrounds.com/fund/accel)
- **6** Nov **[Harbinger](https://millionrounds.com/company/harbinger)** Series D+ · $240M *Led by* [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management)

## Stages This Year

5,898 rounds

- Seed **23%**
- Venture **19%**
- Series A **18%**
- Series B **8%**
- Pre-seed **7%**
- Other **25%**

## What They Backed

Sectors, last 12 months

- AI **2,346**
- Fintech **424**
- Healthcare **358**
- Biotech **328**
- Big Data & Analytics **293**
- Financial Services **241**

## Cheques by Quarter

Led Joined

2,924 Q1 25

3,081 Q2 25

3,127 Q3 25

3,289 Q4 25

3,161 Q1 26

2,678 Q2 26

2,277 Q3 26

708 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 b2b software and saas

- Lean B2B: Build Products Businesses Want Étienne Garbugli · 2014 4.16 from 249 ratings on Goodreads B2B software and SaaS About the book www.leanb2bbook.com « This is a must read for every B2B entrepreneur, SaaS creator or consultant and business school student. It's the kind of book you don't read once, you go back to it on a regular basis. » - Carmen Gerea, CEO & Co-founder, UsabilityChefs Lean B2B helps… On AmazonListen on Audible
- The Pricing Roadmap: How to Design B2B SaaS Pricing Models That Your Customers Will Love Ulrik Lehrskov-Schmidt · 2023 4.43 from 207 ratings on Goodreads B2B software and SaaS About the book "The definitive resource on SaaS pricing, I absolutely can not recommend this book enough." Viktor Heide, COO of Contractbook.com, Forbes "30 under 30" A foolproof method to achieve skyrocketing sales, growth, and profits for your software as a service (SaaS) product starts… On AmazonListen on Audible
- Integrity: The Courage to Meet the Demands of Reality Henry Cloud · 2006 4.22 from 3,393 ratings on Goodreads B2B software and SaaS About the book Integrity. It is more than simple honesty. It's the key to success. A person with integrity has the -- often rare -- ability to pull everything together, to make it all happen no matter how challenging the circumstances. Drawing on experiences from his work with Fortune 500… On AmazonListen on Audible
- Blueprints for a SaaS Sales Organization by Jacco vanderKooij Jacco van der Kooij · 2015 4.33 from 324 ratings on Goodreads B2B software and SaaS About the book Because of their very nature, SaaS companies live and die on revenue growth. And once the service is ready there is a very small window in which to scale. Missing that window is the difference between massive success and mediocrity. With such high stakes, it is crucial to get a… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&model=b2b_software).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about VC firms backing B2B

### Who are the most active VC firms backing B2B?

By cheques observed, the most active are Techstars, Sequoia Capital, Andreessen Horowitz, New Enterprise Associates and Alumni Ventures.

### How many VC firms backing B2B are there?

605 are on record. 86% made an investment in the last 12 months and 56% have led a round.

### Which stages do VC firms backing B2B back?

Of the rounds with a named stage in the last 12 months, mostly Seed (31%) and Series A (24%).

### How big are the rounds VC firms backing B2B join?

The typical (median) round among the leading investors here is $26M.

### Which sectors do VC firms backing B2B back most?

In the last 12 months, mostly AI, Fintech and Healthcare.

### Which VC firms backing B2B lead the most rounds?

Andreessen Horowitz (114 led), Accel (103 led) and General Catalyst (97 led).

### Where are VC firms backing B2B based?

Most of the leading investors here are based in the United States (22 of the top 25); the rest in the United Kingdom and Canada.

### What have VC firms backing B2B invested in recently?

Recent rounds include Water Ledger Global (Other, Nov 2026, with Launch Africa), Physicl (Seed, Nov 2026, with Inovia Capital) and Future Secure AI (Other, Nov 2026, with Square Peg).

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