# VC firms backing Retail (2026 list)

> 292 VC firms backing Retail, 93% active in the last 12 months. Led by Sequoia Capital, Andreessen Horowitz, New Enterprise Associates.

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

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

# VC firms backing Retail

Updated 7 November 2026

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

[See all 292 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-retail)The top 25

**292** investors on the list *+11* this week

**5,609** cheques in 12 months *-5%* against the market

**$7M** median round they joined *-12%* against the market median

**93%** wrote a cheque in 12 months

**60%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) *Deploying now* VC firm · United States **2,099** **$35M** 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 [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
- 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 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen
- 6 [SV Angel](https://millionrounds.com/fund/sv-angel) *Deploying now* VC firm · United States **1,349** **$18M** median round **Oct 2026** last seen
- 7 [Accel](https://millionrounds.com/fund/accel) *Deploying now* VC firm · United States **1,341** **$32M** median round **Nov 2026** last seen
- 8 [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
- 9 [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) *Deploying now* VC firm · United States **1,128** **$26M** median round **Nov 2026** last seen
- 10 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen
- 11 [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
- 12 [FJ Labs](https://millionrounds.com/fund/fj-labs) *Deploying now* VC firm · United States **849** **$11M** median round **Oct 2026** last seen
- 13 [First Round Capital](https://millionrounds.com/fund/first-round-capital) *Deploying now* VC firm · United States **807** **$18M** 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 [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) *Deploying now* VC firm · United States **765** **$40M** median round **Oct 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 [Battery Ventures](https://millionrounds.com/fund/battery-ventures) *Deploying now* VC firm · United States **658** **$32M** median round **Nov 2026** last seen
- 19 [Bossa Invest](https://millionrounds.com/fund/bossa-invest) *Deploying now* VC firm · Brazil **657** **$6.7M** median round **Oct 2026** last seen
- 20 [Greycroft](https://millionrounds.com/fund/greycroft) *Deploying now* VC firm · United States **655** **$13M** median round **Nov 2026** last seen
- 21 [Felicis](https://millionrounds.com/fund/felicis-ventures) *Deploying now* VC firm · United States **640** **$20M** median round **Nov 2026** last seen
- 22 [Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) *Deploying now* VC firm · United States **636** **$7M** 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 [U.S. Venture Partners](https://millionrounds.com/fund/u-s-venture-partners-usvp) *Deploying now* VC firm · United States **535** **$15M** median round **Nov 2026** last seen
- 25 [Flybridge](https://millionrounds.com/fund/flybridge) *Deploying now* VC firm · United States **534** **$5M** median round **Sept 2026** last seen

**267 more on this list**

All 292 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-retail)

## 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 *With* [U.S. Venture Partners](https://millionrounds.com/fund/u-s-venture-partners-usvp)
- **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 **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *With* [Greycroft](https://millionrounds.com/fund/greycroft)
- **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 *With* [Greycroft](https://millionrounds.com/fund/greycroft)

## Stages This Year

3,620 rounds

- Seed **23%**
- Series A **19%**
- Venture **16%**
- Series B **10%**
- Pre-seed **6%**
- Other **25%**

## What They Backed

Sectors, last 12 months

- AI **1,651**
- Fintech **274**
- Healthcare **211**
- Big Data & Analytics **205**
- Biotech **192**
- Financial Services **154**

## Cheques by Quarter

Led Joined

1,444 Q1 25

1,525 Q2 25

1,694 Q3 25

1,784 Q4 25

1,676 Q1 26

1,512 Q2 26

1,268 Q3 26

467 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 retail and fashion

- Lovemarks The Future Beyond Brands Kevin Roberts · 2004 3.86 from 1,497 ratings on Goodreads Retail and fashion Company building About the book "Ideas move mountains, especially in turbulent times. Lovemarks is the product of the fertile-iconoclast mind of Kevin Roberts, CEO Worldwide of Saatchi & Saatchi. Roberts argues vociferously, and with a ton of data to support him, that traditional branding practices have become… On AmazonListen on Audible
- Fashion entrepreneurship Michele Granger, Tina Sterling · 2002 On 15 reading lists at Open Library Retail and fashion Company building On AmazonListen on AudibleOn Open Library
- Retail Gangster: The Insane, Real-Life Story of Crazy Eddie Gary Weiss · 2022 3.90 from 1,120 ratings on Goodreads Retail and fashion Company building About the book A biography of the spectacular rise and fall of Eddie Antar, better known as "Crazy Eddie," whose home electronics empire changed the world even as it turned out to be one of the biggest business scams of all timeBack in the fall of 2016 we heard the news about the passing of… On AmazonListen on Audible
- The Everything Store: Jeff Bezos and the Age of Amazon Brad Stone · 2013 4.13 from 78,706 ratings on Goodreads Retail and fashion Company building About the book The definitive story of Amazon.com, one of the most successful companies in the world, and of its driven, brilliant founder, Jeff Bezos. Amazon.com started off delivering books through the mail. But its visionary founder, Jeff Bezos, wasn't content with being a bookseller. He… On AmazonListen on Audible

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about VC firms backing Retail

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

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

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

292 are on record. 93% made an investment in the last 12 months and 60% have led a round.

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

Of the rounds with a named stage in the last 12 months, mostly Seed (30%) and Series A (25%).

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

The typical (median) round among the leading investors here is $20M.

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

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

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

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

### Where are VC firms backing Retail based?

Most of the leading investors here are based in the United States (23 of the top 25); the rest in the United Kingdom and Brazil.

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

Recent rounds include Water Ledger Global (Other, Nov 2026, with Launch Africa), Physicl (Seed, Nov 2026, with U.S. Venture Partners) 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)