# VC firms backing Oil & Gas (2026 list)

> 112 VC firms backing Oil & Gas, 92% active in the last 12 months. Led by Techstars, Andreessen Horowitz, Alumni Ventures. Ranked by what they funded.

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

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

# VC firms backing Oil & Gas

Updated 7 November 2026

VC firms we have observed in an oil & Gas round in the last two years.

[See all 112 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-oil-gas)The top 25

**112** investors on the list *+1* this week

**2,920** cheques in 12 months *-15%* against the market

**$7.9M** median round they joined *-2%* against the market median

**92%** wrote a cheque in 12 months

**62%** 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 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) *Deploying now* VC firm · United States **1,661** **$27M** median round **Nov 2026** last seen
- 3 [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
- 4 [Accel](https://millionrounds.com/fund/accel) *Deploying now* VC firm · United States **1,341** **$32M** median round **Nov 2026** last seen
- 5 [SOSV](https://millionrounds.com/fund/sosv) *Deploying now* VC firm · United States **951** **$2.5M** median round **Nov 2026** last seen
- 6 [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management) *Deploying now* VC firm · United States **773** **$47M** median round **Nov 2026** last seen
- 7 [Antler](https://millionrounds.com/fund/antler) *Deploying now* VC firm · United Kingdom **729** **$1M** median round **Nov 2026** last seen
- 8 [Crowdcube](https://millionrounds.com/fund/crowdcube) *Deploying now* VC firm · United Kingdom **715** **$615K** median round **Sept 2026** last seen
- 9 [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) *Deploying now* VC firm · Canada **685** **$6M** median round **Sept 2026** last seen
- 10 [Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) *Deploying now* VC firm · United States **636** **$7M** median round **Oct 2026** last seen
- 11 [Canaan](https://millionrounds.com/fund/canaan-partners) *Deploying now* VC firm · United States **610** **$20M** median round **Oct 2026** last seen
- 12 [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) *Deploying now* VC firm · Hong Kong SAR China **526** **$25M** median round **Oct 2026** last seen
- 13 [8VC](https://millionrounds.com/fund/8vc) *Deploying now* VC firm · United States **497** **$23M** median round **Oct 2026** last seen
- 14 [B Capital](https://millionrounds.com/fund/b-capital) *Deploying now* VC firm · United States **495** **$14M** median round **Oct 2026** last seen
- 15 [Global Founders Capital](https://millionrounds.com/fund/global-founders-capital) *Deploying now* VC firm · Germany **461** **$7M** median round **Oct 2026** last seen
- 16 [DCVC](https://millionrounds.com/fund/data-collective) *Deploying now* VC firm · United States **431** **$29M** median round **Nov 2026** last seen
- 17 [Headline](https://millionrounds.com/fund/headline) *Deploying now* VC firm · United States **307** **$15M** median round **Oct 2026** last seen
- 18 [LD Capital](https://millionrounds.com/fund/xie) *Deploying now* VC firm · China **271** **$4.7M** median round **Aug 2026** last seen
- 19 [Valor Equity Partners](https://millionrounds.com/fund/valor-equity-partners) *Deploying now* VC firm · United States **261** **$50M** median round **Nov 2026** last seen
- 20 [BNP Paribas](https://millionrounds.com/fund/bnp-paribas) *Deploying now* VC firm · France **256** **$17M** median round **Oct 2026** last seen
- 21 [Initialized Capital](https://millionrounds.com/fund/initialized-capital) *Deploying now* VC firm · United States **229** **$6.9M** median round **Oct 2026** last seen
- 22 [CDP Venture Capital](https://millionrounds.com/fund/cdp-venture-capital) *Deploying now* VC firm · Italy **227** **$3.9M** median round **Oct 2026** last seen
- 23 [Wavemaker Partners](https://millionrounds.com/fund/wavemaker-partners-3) *Deploying now* VC firm · Singapore **212** **$3M** median round **Mar 2026** last seen
- 24 [Cota Capital](https://millionrounds.com/fund/cota-capital) *Deploying now* VC firm · United States **200** **$15M** median round **Jul 2026** last seen
- 25 [Horizons Ventures](https://millionrounds.com/fund/horizons-ventures) *Deploying now* VC firm · Hong Kong SAR China **186** **$19M** median round **Sept 2026** last seen

**87 more on this list**

All 112 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-oil-gas)

## The Newest Cheques

Rounds this list's investors joined most recently

- **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)
- **5** Nov **[i14](https://millionrounds.com/company/i14)** Seed · $6.3M *With* [Virescent Ventures](https://millionrounds.com/fund/virescent-ventures)
- **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)
- **5** Nov **[Circularity Fuels](https://millionrounds.com/company/circularity-fuels)** Seed · $7M *Led by* [DCVC](https://millionrounds.com/fund/data-collective)
- **5** Nov **[Alethio Therapeutics](https://millionrounds.com/company/alethio-therapeutics)** Series A · $90M *With* [Oxford Science Enterprises](https://millionrounds.com/fund/oxford-science-enterprises)

## Stages This Year

2,540 rounds

- Seed **19%**
- Venture **19%**
- Series A **17%**
- Series B **8%**
- Pre-seed **7%**
- Other **30%**

## What They Backed

Sectors, last 12 months

- AI **913**
- Biotech **168**
- Energy **167**
- Healthcare **145**
- Fintech **141**
- Big Data & Analytics **122**

## Cheques by Quarter

Led Joined

929 Q1 25

834 Q2 25

982 Q3 25

962 Q4 25

978 Q1 26

754 Q2 26

644 Q3 26

196 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 Oil & Gas

### Who are the most active VC firms backing Oil & Gas?

By cheques observed, the most active are Techstars, Andreessen Horowitz, Alumni Ventures, Accel and SOSV.

### How many VC firms backing Oil & Gas are there?

112 are on record. 92% made an investment in the last 12 months and 62% have led a round.

### Which stages do VC firms backing Oil & Gas back?

Of the rounds with a named stage in the last 12 months, mostly Seed (27%) and Series A (23%).

### How big are the rounds VC firms backing Oil & Gas join?

The typical (median) round among the leading investors here is $14M.

### Which sectors do VC firms backing Oil & Gas back most?

In the last 12 months, mostly AI, Biotech and Energy.

### Which VC firms backing Oil & Gas lead the most rounds?

Andreessen Horowitz (114 led), Accel (103 led) and Tiger Global Management (42 led).

### Where are VC firms backing Oil & Gas based?

Among the most active, most are based in the United States (15), the United Kingdom (2) and Hong Kong SAR China (2).

### What have VC firms backing Oil & Gas invested in recently?

Recent rounds include Thinking Machines Lab (Other, Nov 2026, with Accel), Harbinger (Series D+, Nov 2026, with Tiger Global Management) and i14 (Seed, Nov 2026, with Virescent Ventures).

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