# LP Database: who backs the funds > 11,212 LPs (family offices, funds of funds, pensions, endowments, sovereign and public investors) with what they were seen doing directly, their SEC... Source: https://millionrounds.com/lp-database (Millionrounds; every figure on the page links to its filing or article) # LP Database: the money *behind* the money Every fund you pitch is raising from someone too. 11,212 limited partners (family offices, funds of funds, pensions, endowments, sovereign and public investors) with what we have watched them do directly, their SEC registrations and their US tax filings. Search LPs The record ## Who backs the funds Family offices, pensions, endowments and sovereign funds, each with its SEC registration, US tax filings and the startups it backed directly. **11,212** LPs on record **1,004** also seen investing directly **591** registered with the SEC **$2.0T** held by US foundations ## Six kinds of limited partners 6,256 **Family office** A family's own capital: patient, private, often direct 570 seen investing directly2,743 **Institutional LP** Pensions, endowments and sovereign funds 80 seen investing directly908 **Government** Public money: development banks and state funds 209 seen investing directly495 **Wealth manager** Private banks and wealth platforms 19 seen investing directly445 **Asset manager** Managers allocating to private markets 50 seen investing directly365 **Fund of funds** Funds that back other funds 76 seen investing directly ## LPs that back startups directly The LPs we see backing startups most often. - [1 **National Science Foundation** Government · United States **1,869** rounds, last Sept 2026](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno) - [2 **Bpifrance** Government · France **1,151** rounds, last Oct 2026](https://millionrounds.com/fund/bpifrance) - [3 **EIC Accelerator** Government · European Union **875** rounds, last Oct 2026](https://millionrounds.com/fund/eic-accelerator) - [4 **Korea Tech Incubator Program For Startup** Government · South Korea **597** rounds, last Sept 2026](https://millionrounds.com/fund/tips-program) - [5 **US Department of Energy** Government · United States **453** rounds, last Sept 2026](https://millionrounds.com/fund/u-s-department-of-energy) - [6 **Shenzhen Capital Group Co.** Government · China **447** rounds, last Jul 2026](https://millionrounds.com/fund/shenzhen-capital-group) - [7 **Enterprise Ireland** Government · Ireland **445** rounds, last Sept 2026](https://millionrounds.com/fund/enterprise-ireland) - [8 **National Institutes of Health** Government · United States **387** rounds, last Sept 2026](https://millionrounds.com/fund/national-institutes-of-health) - [9 **Innovation Works** Government · United States **321** rounds, last Sept 2026](https://millionrounds.com/fund/innovation-works) ## Family offices, by country Where the 6,256 family offices on our records are based. **42%** are in **United States**, the rest spread across 110 more countries United States **2,317**United Kingdom **381**Germany **313**Switzerland **244**United Arab Emirates **197**Canada **154**India **151**France **147**Singapore **138**Australia **120** ## The largest foundations and endowments Ranked by the assets on their latest IRS tax return. [#1 Private foundation · IN **Lilly Endowment** $106B The eight largest hold **$449B**, 22% of everything on these returns.](https://millionrounds.com/fund/lilly-endowment) - [2 **The Leland Stanford Junior University** University endowment · CA *$69B*](https://millionrounds.com/fund/the-leland-stanford-junior-university) - [3 **Yale University** University endowment · CT *$59B*](https://millionrounds.com/fund/yale-university) - [4 **The Wellcome Trust** Private foundation *$58B*](https://millionrounds.com/fund/the-wellcome-trust) - [5 **Princeton University** University endowment · NJ *$46B*](https://millionrounds.com/fund/princeton-university) - [6 **Massachusetts Institute of Technology** University endowment · MA *$45B*](https://millionrounds.com/fund/massachusetts-institute-of-technology) - [7 **The University of Pennsylvania** University endowment · PA *$37B*](https://millionrounds.com/fund/the-university-of-pennsylvania) - [8 **University of Notre Dame du Lac** University endowment · IN *$30B*](https://millionrounds.com/fund/university-of-notre-dame-du-lac) ## Why a founder should care 1 **Funds raise on a clock.** A fund that just closed has years of cheques ahead; one near the end of its fund is saving for follow-ons. 10,578 firms filed to raise a new fund in the last 18 months. 2 **LPs shape what funds back.** A fund whose LPs are climate endowments will not lead your gaming round. Knowing who backs a fund tells you what it can say yes to. 3 **Some LPs go direct.** Family offices especially. 570 family offices on our records have backed companies themselves. ## Where it comes from **SEC Form ADV** Advisers registered with the SEC, and what they manage. **IRS exempt organisations** US foundations and endowments, with the assets on their latest return. **13F filings** The public holdings of the largest institutions. **Rounds we watched** Every direct deal, with the article or filing it came from. Which LP committed to which fund is not public for most funds, and we do not guess it. What is shown is who they are, where, and what they were seen doing. ## See who backs the funds you are pitching. Search LPs by type, country, SEC registration and direct deals. Free with an account. Search LPs[Or the funds themselves](https://millionrounds.com/investment-firms)