# VC firms backing Water (2026 list) > 55 VC firms backing Water, 84% active in the last 12 months. Led by General Catalyst, Antler, Innovate UK. Ranked by what they funded. Source: https://millionrounds.com/lists/vc-firms-water (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # VC firms backing Water Updated 7 November 2026 VC firms we have observed in a water round in the last two years. [See all 55 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-water)The top 25 **55** investors on the list *+6* this week **965** cheques in 12 months *-7%* against the market **$5.5M** median round they joined *-31%* against the market median **84%** wrote a cheque in 12 months **53%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen - 2 [Antler](https://millionrounds.com/fund/antler) *Deploying now* VC firm · United Kingdom **729** **$1M** median round **Nov 2026** last seen - 3 [Innovate UK](https://millionrounds.com/fund/innovate-uk) *Deploying now* VC firm · United Kingdom **704** **$1.2M** median round **Oct 2026** last seen - 4 [Battery Ventures](https://millionrounds.com/fund/battery-ventures) *Deploying now* VC firm · United States **658** **$32M** median round **Nov 2026** last seen - 5 [DCVC](https://millionrounds.com/fund/data-collective) *Deploying now* VC firm · United States **431** **$29M** median round **Nov 2026** last seen - 6 [Upfront Ventures](https://millionrounds.com/fund/upfront-ventures) *Deploying now* VC firm · United States **338** **$10M** median round **Oct 2026** last seen - 7 [Almi Invest](https://millionrounds.com/fund/almi-invest) *Deploying now* VC firm · Sweden **328** **$1.1M** median round **Nov 2026** last seen - 8 [Lowercarbon Capital](https://millionrounds.com/fund/lowercarbon-capital) *Deploying now* VC firm · United States **146** **$21M** median round **Oct 2026** last seen - 9 [Long Journey Ventures](https://millionrounds.com/fund/long-journey-ventures) *Deploying now* VC firm · United States **145** **$10M** median round **Oct 2026** last seen - 10 [N1](https://millionrounds.com/fund/n1) *Deploying now* VC firm · Luxembourg **134** **$1.4M** median round **Sept 2026** last seen - 11 [Afore Capital](https://millionrounds.com/fund/afore-capital) *Deploying now* VC firm · United States **116** **$6.3M** median round **Oct 2026** last seen - 12 [Acumen](https://millionrounds.com/fund/acumen) *Deploying now* VC firm · United States **107** **$5M** median round **Oct 2026** last seen - 13 [Launch Africa](https://millionrounds.com/fund/launch-africa-ventures) *Deploying now* VC firm · Mauritius **96** **$1.1M** median round **Nov 2026** last seen - 14 [Builders VC](https://millionrounds.com/fund/builders-vc) *Deploying now* VC firm · United States **79** **$11M** median round **Oct 2026** last seen - 15 [Chalmers Ventures AB](https://millionrounds.com/fund/chalmers-ventures-ab) *Deploying now* VC firm **67** **$848K** median round **Sept 2026** last seen - 16 [Groove Capital](https://millionrounds.com/fund/groove-capital) *Deploying now* VC firm · United States **58** **$1.6M** median round **Aug 2026** last seen - 17 [Creator Fund](https://millionrounds.com/fund/creator-fund) *Deploying now* VC firm · United Kingdom **54** **$3.6M** median round **Sept 2026** last seen - 18 [Cantos](https://millionrounds.com/fund/cantos) *Deploying now* VC firm · United States **48** **$12M** median round **Sept 2026** last seen - 19 [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 - 20 [Intesa Sanpaolo](https://millionrounds.com/fund/intesa-sanpaolo) *Deploying now* VC firm · Brazil **42** **$8.8M** median round **May 2026** last seen - 21 [LUMO Labs](https://millionrounds.com/fund/lumo-labs) *Deploying now* VC firm · Netherlands **34** **$1.6M** median round **Sept 2026** last seen - 22 [nrw.bank](https://millionrounds.com/fund/nrw-bank) *Deploying now* VC firm · Germany **30** **$16M** median round **Oct 2026** last seen - 23 [Black Nova Venture Capital](https://millionrounds.com/fund/black-nova-venture-capital) *Deploying now* VC firm · Australia **24** **$2.6M** median round **Sept 2026** last seen - 24 [Noa](https://millionrounds.com/fund/noa) *Deploying now* VC firm · United Kingdom **24** **$54M** median round **Sept 2026** last seen - 25 [Interlagos](https://millionrounds.com/fund/interlagos) *Deploying now* VC firm · United States **6** **$58M** median round **Oct 2026** last seen **30 more on this list** All 55 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-water) ## 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) - **5** Nov **[Circularity Fuels](https://millionrounds.com/company/circularity-fuels)** Seed · $7M *Led by* [DCVC](https://millionrounds.com/fund/data-collective) - **5** Nov **[altM](https://millionrounds.com/company/altm)** Series A · $10M *Led by* [Mela Ventures](https://millionrounds.com/fund/mela-ventures) - **4** Nov **[Shackleton AI](https://millionrounds.com/company/shackleton-ai)** Seed · $5M *Led by* [Battery Ventures](https://millionrounds.com/fund/battery-ventures) - **4** Nov **[Nooks](https://millionrounds.com/company/nooks)** Growth · $500M *Led by* [General Catalyst](https://millionrounds.com/fund/general-catalyst) - **4** Nov **[Corridian](https://millionrounds.com/company/corridian)** Seed · $38M *With* [DCVC](https://millionrounds.com/fund/data-collective) ## Stages This Year 911 rounds - Seed **25%** - Series A **16%** - Venture **14%** - Pre-seed **11%** - Series B **8%** - Other **26%** ## What They Backed Sectors, last 12 months - AI **364** - Biotech **69** - Healthcare **69** - Fintech **55** - Big Data & Analytics **49** - Energy **43** ## Cheques by Quarter Led Joined 269 Q1 25 279 Q2 25 272 Q3 25 323 Q4 25 257 Q1 26 247 Q2 26 259 Q3 26 74 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 Water ### Who are the most active VC firms backing Water? By cheques observed, the most active are General Catalyst, Antler, Innovate UK, Battery Ventures and DCVC. ### How many VC firms backing Water are there? 55 are on record. 84% made an investment in the last 12 months and 53% have led a round. ### Which stages do VC firms backing Water back? Of the rounds with a named stage in the last 12 months, mostly Seed (32%) and Series A (20%). ### How big are the rounds VC firms backing Water join? The typical (median) round among the leading investors here is $6.3M. ### Which sectors do VC firms backing Water back most? In the last 12 months, mostly AI, Biotech and Healthcare. ### Which VC firms backing Water lead the most rounds? General Catalyst (97 led), Battery Ventures (29 led) and DCVC (12 led). ### Where are VC firms backing Water based? Among the most active, most are based in the United States (12), the United Kingdom (4) and Luxembourg (2). ### What have VC firms backing Water invested in recently? Recent rounds include Water Ledger Global (Other, Nov 2026, with Launch Africa), Circularity Fuels (Seed, Nov 2026, with DCVC) and altM (Series A, Nov 2026, with Mela Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)