# VC firms backing ESG & Impact (2026 list) > 21 VC firms backing ESG & Impact, 67% active in the last 12 months. Led by BNP Paribas, Cultivation Capital, DNX Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/vc-firms-esg (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # VC firms backing ESG & Impact Updated 7 November 2026 VC firms we have observed in an ESG & Impact round in the last two years. [See all 21 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-esg)The top 21 **21** investors on the list *-1* this week **209** cheques in 12 months *-13%* against the market **$5.3M** median round they joined *-34%* against the market median **67%** wrote a cheque in 12 months **57%** have led a round ## The Top 21 Ordered by cheques observed, never by anything anyone paid for Deploying now (14) - 1 [BNP Paribas](https://millionrounds.com/fund/bnp-paribas) *Deploying now* VC firm · France **256** **$17M** median round **Oct 2026** last seen - 2 [Cultivation Capital](https://millionrounds.com/fund/cultivation-capital) *Deploying now* VC firm · United States **169** **$4.4M** median round **Oct 2026** last seen - 3 [DNX Ventures](https://millionrounds.com/fund/dnx-ventures-us) *Deploying now* VC firm · United States **149** **$5M** median round **Sept 2026** last seen - 4 [Santander](https://millionrounds.com/fund/santander) *Deploying now* VC firm · United Kingdom **125** **$66M** median round **Oct 2026** last seen - 5 [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) *Deploying now* VC firm · United Kingdom **109** **$3.7M** median round **Oct 2026** last seen - 6 [Singular](https://millionrounds.com/fund/singular) *Deploying now* VC firm · France **97** **$11M** median round **Oct 2026** last seen - 7 [B2venture](https://millionrounds.com/fund/b2venture) *Deploying now* VC firm · Switzerland **94** **$9.8M** median round **Oct 2026** last seen - 8 [MH Ventures](https://millionrounds.com/fund/mh-ventures) *Deploying now* VC firm · United States **57** **$3.5M** median round **Oct 2026** last seen - 9 [UVC Partners](https://millionrounds.com/fund/uvc-partners) *Deploying now* VC firm · Germany **55** **$14M** median round **Sept 2026** last seen - 10 [European Investment Fund](https://millionrounds.com/fund/european-investment-fund-eif) *Deploying now* VC firm · Luxembourg **44** **$5.2M** median round **Oct 2026** last seen - 11 [ECMC](https://millionrounds.com/fund/ecmc) quiet VC firm · United States **7** **$9.7M** median round **Jan 2025** last seen - 12 [LeanSquare](https://millionrounds.com/fund/leansquare) *Deploying now* VC firm · Belgium **5** **$1.2M** median round **Sept 2026** last seen - 13 [NPIF II – Mercia Equity Finance](https://millionrounds.com/fund/npif-ii-mercia-equity-finance) *Deploying now* VC firm **5** **$2.9M** median round **Oct 2026** last seen - 14 [LiteCap](https://millionrounds.com/fund/litecap) quiet VC firm · United States **3** **$6.1M** median round **Jan 2025** last seen - 15 [IoTeX](https://millionrounds.com/fund/iotex) quiet VC firm · United States **2** **$5.3M** median round **Oct 2025** last seen - 16 [BCG](https://millionrounds.com/fund/bcg) quiet VC firm · United States **1** **$2.5M** median round **Jul 2025** last seen - 17 [Ballmer Group](https://millionrounds.com/fund/ballmer-group) *Deploying now* VC firm · United States **1** **$100M** median round **Oct 2026** last seen - 18 [Enable Ventures](https://millionrounds.com/fund/enable-ventures) quiet VC firm · United States **1** **$6.1M** median round **Jan 2025** last seen - 19 [Samaritan Partners](https://millionrounds.com/fund/samaritan-partners) quiet VC firm · United States **1** **$6.1M** median round **Jan 2025** last seen - 20 [Shaping Impact Group](https://millionrounds.com/fund/shaping-impact-group) *Deploying now* VC firm · Belgium **1** **$5.3M** median round **Sept 2026** last seen - 21 [VeChain](https://millionrounds.com/fund/vechain) quiet VC firm **1** **$2.5M** median round **Jul 2025** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **27** Oct **[Cancore](https://millionrounds.com/company/cancore)** Seed · $7.2M *With* [MH Ventures](https://millionrounds.com/fund/mh-ventures) - **26** Oct **[Maycomb Capital](https://millionrounds.com/company/maycomb-capital)** Other · $100M *Led by* [Ballmer Group](https://millionrounds.com/fund/ballmer-group) - **26** Oct **[Akaysha Energy](https://millionrounds.com/company/akaysha-energy)** Debt · $1.2B *With* [BNP Paribas](https://millionrounds.com/fund/bnp-paribas) - **26** Oct **[PureTerra Ventures](https://millionrounds.com/company/pureterra-ventures)** Other · $33M *With* [European Investment Fund](https://millionrounds.com/fund/european-investment-fund-eif) - **21** Oct **[TruAgents](https://millionrounds.com/company/truagents)** Seed · $3.4M *With* [Cultivation Capital](https://millionrounds.com/fund/cultivation-capital) - **19** Oct **[CoComply](https://millionrounds.com/company/cocomply)** Seed · $2.5M *Led by* [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) ## Stages This Year 203 rounds - Debt **21%** - Seed **21%** - Series A **15%** - Venture **13%** - Series B **9%** - Other **21%** ## What They Backed Sectors, last 12 months - AI **51** - Energy **18** - Fintech **13** - Biotech **13** - Cleantech **10** - Aerospace & Space **9** ## Cheques by Quarter Led Joined 65 Q1 25 58 Q2 25 65 Q3 25 71 Q4 25 61 Q1 26 62 Q2 26 50 Q3 26 14 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 VC firms backing ESG & Impact ### Who are the most active VC firms backing ESG & Impact? By cheques observed, the most active are BNP Paribas, Cultivation Capital, DNX Ventures, Santander and Mercia Asset Management. ### How many VC firms backing ESG & Impact are there? 21 are on record. 67% made an investment in the last 12 months and 57% have led a round. ### Which stages do VC firms backing ESG & Impact back? Of the rounds with a named stage in the last 12 months, mostly Debt (26%) and Seed (26%). ### How big are the rounds VC firms backing ESG & Impact join? The typical (median) round among the leading investors here is $5.3M. ### Which sectors do VC firms backing ESG & Impact back most? In the last 12 months, mostly AI, Energy and Fintech. ### Which VC firms backing ESG & Impact lead the most rounds? Mercia Asset Management (9 led), Cultivation Capital (5 led) and NPIF II – Mercia Equity Finance (5 led). ### Where are VC firms backing ESG & Impact based? Among the most active, most are based in the United States (10), France (2) and the United Kingdom (2). ### What have VC firms backing ESG & Impact invested in recently? Recent rounds include Cancore (Seed, Oct 2026, with MH Ventures), Maycomb Capital (Other, Oct 2026, with Ballmer Group) and Akaysha Energy (Debt, Oct 2026, with BNP Paribas). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)