Although 2024 didn’t reach the heights that it once was, 2025 is proving to be a very opportune time for the world of venture capital. The state of the economy is causing people to be very careful in their strategies for investing. This is causing some fields to become popular.
The popular areas of investment for the worldwide venture capital investment market in 2024 included technology, healthcare, financial services, innovation, renewable energy, e-commerce, and real estate. The world of venture capital investment is looking very optimistic for 2025.
The technology field, healthcare field, and fintech field are looking to gain even more investments in the world of venture capital investment. Especially with the new technology of artificial intelligence. Sustainability is also looking to be one of the most popular fields for venture capital investment.
By understanding how this world of venture capital investment has evolved, new entrepreneurs and people can understand where to find the opportunities and how they can be affected.
As we move forward into 2026, it’s proving to be a very exciting time for technology mergers and acquisitions. Companies, both startup and venture capital funders, are beginning to incorporate project management tools such as the DealRoom M&A Optimization Platform into their M&A due diligence process.
This is a DealRoom overview of the top 15 venture capital firms across the globe for 2025.
List of the 15 Largest Venture Capital Firms in 2026
As the worldwide venture capital investment market size reached a high of $284.4 billion USD in 2023, it’s only natural that one would want to understand which firms are the largest.
The following is a list of the top 15 venture capital firms as of 2026.
1. Tiger Global Management
AUM: $58.515 billion
Location: New York City, NY
Tiger Global Management isn’t just a VC fund; it also engages in other areas such as private equity, hedge funds, etc. However, Tiger Global Management is the most prolific of all the US-based VC firms, pre-pandemic. Their biggest investments in 2025 include Briq, Wiz, Scribe.
2. Sequoia Capital
AUM: $55.7B
Location: Menlo Park, CA
Arguably the most famous of all the venture capital firms, the mere mention of Sequoia Capital as the lead investor is enough to convince other venture capitalists to join in as well. They rarely ever make a wrong investment. Some of the most famous investments that Sequoia Capital has made in the past include Apple, Cisco Systems, Google, Instagram, LinkedIn, PayPal, WhatsApp, and Zoom.
3. Andreessen Horowitz
AUM: $52.3B
Location: Menlo Park, CA
Despite the fact that the name is synonymous with some of the biggest names in the tech industry, Andreessen Horowitz is a relatively new player in the field, having been founded in 2009. Some of the biggest investments that Andreessen Horowitz has made in the past include Facebook, Groupon, Twitter, Zynga, among many others. They are one of the biggest and most powerful venture capital firms in the valley.
4. Legend Capital
AUM: €44.1B (~ $48.141 billion)
Location: Beijing, China
Legend Capital is a well-known venture capital company and a private equity company in Asia, with its headquarters in Beijing, China. The company primarily invests in different sectors, such as the health care, medical, and biotechnology sectors. The company was formed in 2001 and has invested in over 600 companies in China and other countries in growth-stage and early-stage investment opportunities.
5. New Enterprise Associates (NEA)
AUM: $25.911B
Location: Chevy Chase, MD
Even though New Enterprise Associates has an office in Menlo Park, just like many of the other companies in the list, its headquarters is located in Chevy Chase in the state of Maryland. However, the company has been around for almost 50 years now, making it a go-to company for startups because of its age. The company has invested in companies such as Patreon, Plaid, Upstart, and UpWork.
6. Lightspeed Venture Partners
AUM: $25B
Location: Menlo Park, CA
Lightspeed Venture Partners was founded in the year 2000 at a time when the whole world was on the verge of crashing owing to the dot-com bubble in the venture capital investment world. However, the firm was able to ride out the crash and has since become one of the most popular venture capital firms in the world. Some of the key industries that the firm focuses on include the software industry, information technology, as well as enterprise software. Some of the key investments that the firm has made include Grubhub, Flixster, Cameo, as well as Giphy.
7. Dragoneer Investment Group
AUM: $21.729B
Location: San Francisco, CA
Dragoneer Investment Group is an investment company that specializes in investments in the software industry, the fintech industry, as well as the e-commerce industry. The firm has over $21 billion in capital under management. Additionally, the firm has institutional investors such as endowments, foundations, as well as sovereign wealth funds.
8. Technology Crossover Ventures
AUM: $19.88B
Location: Menlo Park, CA
Technology Crossover Ventures is a venture capital firm that specializes in the provision of growth capital to public or private infrastructure software, financial technology, as well as application software companies. The firm has other offices located in New York and London. This enables the firm to access all the knowledge from all over the globe. The firm’s most successful investments include Netflix, LinkedIn, Airbnb, ByteDance, Facebook, GoFundMe, as well as Spotify.
9. Bessemer Venture Partners
AUM: $19.661B
Location: San Francisco, CA
Bessemer Venture Partners is one of the oldest and most respected venture capital companies in the US. The company has other offices located in New York, Boston, San Francisco, Tel Aviv, Bangalore, and Beijing, apart from its principal office located in Menlo Park, California. The company invests in a number of sectors, including SaaS, cloud, cybersecurity, healthcare, enterprise software, financial services, and many more. Bessemer has a long and successful track record in the business of venture capital investing and has invested in companies such as LinkedIn, Shopify, Twitch, Pinterest, and DocuSign, among many others.
10. Accel
AUM: $19.1B
Location: Palo Alto, CA
This is another successful and well-established venture capital company that has been in business since 1983. The company has been successful in California, and this has given it the courage to spread its wings and expand to other countries in Europe and China. The company has made numerous investments in all industries, including consumer, infrastructure, and so on. Some successful investments made by the company include Etsy, Rovio, Braintree, and Atlassian.
11. OrbiMed
AUM: $18.277B
Location: New York City
OrbiMed was founded in 1989 and has expertise in investing in the healthcare and life sciences industries. The company has a great reputation due to its knowledge and expertise in investing in healthcare and life sciences industries. The company has made numerous investments in all industries within the biopharmaceuticals sector, medical devices, diagnostics, health information technology, and healthcare services.
12. Battery Ventures
AUM: $16.840B
Location: Boston, MA
Battery Ventures is a well-known venture capital company that has been in business for 40 years, since 1983. The company is the signature venture capital company in Boston. The company has made numerous and successful investments in application software, infrastructure software, consumer industries, industrial technology, and life sciences industries. Some successful investments made by the company include CoinBase, Databricks, Glassdoor, and Groupon.
13. Deerfield
AUM: $15.06B
Location: New York City, NY
Deerfield Management is an investment company that was founded by Arnold Snider in 1994. Over the years, the company has grown to become one of the prominent investment companies, particularly in the healthcare industry. The company has an initiative called Deerfield Discovery and Development (3DC), which aims at accelerating the development of innovative therapeutics from discovery through clinical proof of concept in collaboration with academia and research institutions.
14. Khosla Ventures
AUM: $15B
Location: Menlo Park, CA
Khosla Ventures is affiliated with Kleiner Perkins. The company was founded by Vinod Khosla, who was previously a partner at Kleiner Perkins, in 2004. In addition to investing in technology startups, the company also invests in cleantech startups. Some of the high-profile investments of the company include Stripe, Instacart, DoorDash, and Square.
15. Index Ventures
AUM: $13B
Location: San Francisco, CA
Index Ventures is more of a VC firm in Europe. However, the company has two headquarters, one in San Francisco, California. The company has been operational for close to three decades, having been founded in 1996. The company focuses on investing in technology companies, particularly in the e-commerce industry, fintech, mobility, gaming, infrastructure, and security sectors. Some of the prominent companies that the company has invested in include Betfair, MySQL, Facebook, Zendesk. Additional Resource: Top 21 VC Firms in The World
VC Firms by Geography
It’s essential to take into consideration your target market and how location can impact the growth and success of your business regarding venture capital investments. Using location to your advantage can be beneficial for the growth of your business in target markets. Working with a regional VC firm can be beneficial for creating a business strategy that can meet the growth needs of your business. The following is a list of top VC firms by region.
Top Venture Capital Firms in Boston
Boston is a hub for attracting start-ups because of its history and longevity in the tech world and also in the health care world and academics. In 2024, Boston has increased investments and has been able to raise over $3.99 billion for funding over 400 start-ups in 2024.
Top Venture Capital Firms in Chicago
The city of Chicago is a hub located in the middle of the country and has a diverse population that helps fuel its economy. This is one of the top cities in the US for new start-ups and also for scalable business models. In 2024, the city of Chicago has seen a rise of $2.5 billion in venture capital investments in the city's start-ups.
- M25
- Abundant Venture Partners
- Hyde Park Venture Partners
- Bridge Investments
- Energy Foundry
- Jump Capital
Top Venture Capital Firms in San Francisco
The city of San Francisco has continued to remain one of the top hubs for venture capital investments due to the high level of innovation, talent, and resources available within the region. The city of San Francisco has managed to attract over $12 billion of venture capital funds in the year 2024, which is a record for any city within the US.
- Owl Ventures
- Jackson Square Ventures
- Ridge Ventures
- Bessemer Venture Partners
- Index Ventures
- First Round Capital
- Menlo Ventures
- Benchmark
Top Venture Capital Firms in NYC
It’s no wonder New York City has continued to remain at the top of the venture capital investments, given the high level of innovation, talent, and resources available within the region. The startups within New York City managed to attract over $7 billion of venture capital funds within the last year, making it one of the top venture capital markets, year after year.
What is Venture Capital?
Venture Capital is one of the types of equity financing, which comes under another form of equity financing called private equity financing. The primary focus of this form of financing is on startups, emerging, and early-stage companies. The financing of such companies is performed by venture capital companies, who invest in companies that come within the above-mentioned categories and are believed to possess high growth potential, as there is something unique within the business itself.
How Does Venture Capital Work?
The ultimate objective of venture capital financing is that the funds should be invested in the best ideas.
This is good for the entrepreneurs and employees of the new startups, the venture capital investors, and society in general, as they are able to benefit from a new product or service that improves the quality of their lives. Getting this process right, and making sure that the funds are invested in ideas that are likely to succeed, is well beyond the returns that investors make from the funds.
In the section that follows, we’ll look at the process from the investor and the entrepreneur side.
The venture capital process for investors
As a result of the emergence of the VC industry, and the copious amounts of financial media coverage that is given to the emergence of these so-called 'unicorns' (i.e., a company that reaches a $1 billion+ valuation prior to going public), the largest and most well-known VC investors receive hundreds of applications every week for them to fund a new company.
If you go to the website of any VC fund, they’ll outline what they are looking for in a company, such as revenue, technology, etc., so that they can weed out as many businesses as possible that aren’t suitable for potential investment. This is the first part of the VC investor process...
1. Screening
This is the process that the VC investors go through to wade through the thousands of applications that are submitted to them for potential investment. This is where a designated analyst will go through all of these applications and filter out what they determine to be the best potential businesses for investment (approximately 15-20% of the total applications that are submitted to the VC investors).
2. Partner review
Once a company has gone through this part of the process, they will then be sent to the partners of the VC fund, and a second level of analysis will be performed on a company so that a second set of criteria will have to be met by a company in order to advance to the next part of the process. This part of the process is arguably the hardest part of the process, and impressing these individuals who have the power to fund a company is key to the VC process.
3. Initial meeting
The name of this part of the process alone should tell you that this is where the VC firm meets the startup founder as well as his/her management team. This isn’t just a ‘get to know you’ type of meeting, like one would have been in a normal first interview scenario. This is more of a ‘do I want to invest in you’ type of meeting.
4. Internal review
Once they’ve gotten to know the startup founders of these startups and have gotten an overview of their business model, an internal review takes place every two to four weeks in which they discuss businesses they feel have the highest potential. Also, they discuss the offers that can be made to these startups.
5. Due diligence
The process of due diligence is a complex process for a VC firm. It’s a process in which they essentially look under the hood of these startups and understand their business model better. Then, they can understand where they’re going and what kind of risk is being taken in investing in these startups. When you consider that multiple such processes are going on simultaneously, you can understand how technology is used in this process.
Also, get yourself a copy of our venture capital due diligence checklist that VCs use to evaluate businesses.
6. Investment committee
The findings of each of these due diligence exercises are presented to an investment committee consisting of partners, a few external advisors, managers, and other such individuals, who essentially give a final verdict on which of these startups deserve an offer.
7. Closing
An offer is made to these startups, and in effect, a term sheet is drawn up that specifies the terms and conditions of this deal. The money is then transferred to these startups, and in effect, their post-money stage begins with the VC company on board.
Venture Capital Process for startups
It should be noted that the process for funding a startup company would be similar to that of a VC fund.
As may be understood, it’s a steep learning curve for most startup companies since it doesn’t only involve attempting to smooth out the issues that have been plaguing the startup company but also involves attempting to develop a winning pitch deck (which in itself is a daunting task). To know more about what these 7 crucial steps are that one should take before a VC fundraising round, click here.
The steps taken by a startup company to attain VC funding are as follows:
1. Prepare documents
The documents that are prepared by a startup company are how a startup company communicates its value to VC firms. Although all startup companies are unique in their own right, it’s been found that most startup companies have a set of documents that include an elevator pitch, one-page teaser document, business plan, and pitch deck (most important).
2. Acquire technology
Once the startup firm has developed these documents, it’s then important for these documents to be shared with the right people in the right way. This includes the use of a virtual data room and giving interested parties access to your documents – and more importantly, you’ve got your sh*t together.
3. Know your terms
A business plan and pitch deck should have outlined how a startup firm has been utilizing its funds and where it’s been getting its funding from, but a startup founder should also know the terms of a startup firm – i.e., “How much equity can we give away for the funding we are seeking?”
4. Select suitable VC firms
There are more and more such VC firms, and it’s also important for the startup to select the right one from the many. The immediate need for the startup firm is to raise the cash investment in the business, but it’s also important for the entrepreneur to keep in mind that the investor has a stake in the business and, therefore, has some say in the way the business will be run, and so it’s important to select the right one.
5. Field responses
Startup entrepreneurs, at least for startups that have some potential, will generally have to talk to multiple VC investors at one time. This is a good time to see what VC investors ask, what holes exist in the business model, and how the business plans can be improved. The business plans can then be updated in the virtual data room.
6. Review term sheets
Once again, assuming that there’s a level of interest from the VC standpoint, the startup receives the offer or offers, and it’s then their turn to decide what offers, if any, to accept after reviewing all the offers with a lawyer and determining what type of impact any potential investment would have on capitalization.
7. Due diligence
The startup should make it as easy as possible for the VC firm to complete the due diligence process. Not only will the VC firm be examining all of the business plans and other information that the startup has provided, but they’ll also be examining how easy it was for them to work with the startup. Again, technology makes it easier for everyone involved.
8. Closing
Assuming that the above steps have been successfully completed with good due diligence results for the startup, it’s then time for the startup’s management team to determine whether or not they wish to accept the VC fund’s offer of acquiring equity in the startup. Once all of the signatures have been completed for the startup’s management team, the money is transferred, and the partnership is complete.
Types of Venture Capital Fund
Venture capital fund is an investment firm that offers finance for start-up businesses or early-stage firms that have high growth prospects. The most common forms of venture capital fund are:
1. Seed funding
Seed funding is the first form of VC fund that involves smaller amounts of money for the development of the business, among other needs of the firm. Seed funding aims at helping start-ups develop their products or services for the launch of the business. The source of seed funding includes angel investors or seed-stage venture capitalist firms.
2. Early-stage funding
This type of VC funding can be considered to be similar to seed funding. However, it’s noted that the amount of money that’s invested in this type of VC funding is more than that of seed funding. Additionally, it’s noted that the aim of this type of VC funding is to enable the start-up business to scale up the operations of the business. This type of VC funding can also be referred to as Series A rounds. This type of VC funding can also include Series B rounds.
The source of funding for this type of VC funding can include venture capitalist firms specializing in start-up businesses that have created products or services that can sell.
3. Late-stage funding
This type of VC funding can include Series C, D, E, etc. The start-up firms that participate in this type of VC funding have an established successful business. However, these firms have not yet gone public. This type of VC funding is for expanding the business of the start-up firms. The firms that participate in this type of VC funding can include venture capitalist firms that provide the start-up firms with money for mergers and acquisitions.
What are the leading VC Firms investing in?
The venture capital firms in 2026 are strategically investing their capital in popular sectors that have been discussed above in the article (i.e., the healthcare industry, the fintech industry, the e-commerce industry, the cybersecurity industry, the sustainability industry, etc.). One cannot ignore the emergence of AI startups coupled with the dawn of working remotely.
Despite a lot of opportunities for growth in these industries, owing to their competitive nature and the dynamic environment in these industries, it seems to be a tougher industry for venture capitalists to operate in. However, many venture capitalists and early investors have risen to the challenge of meeting the demand by investing in those companies that have the potential to bring a revolution in the respective industry in which the companies operate. This has brought a new wave of innovation in these industries, giving birth to a new wave of venture capital.
Final Thoughts
The Chinese proverb that goes, “nothing is as powerful as an idea whose time has come,” is the guiding philosophy behind the venture capital industry. The larger the organization, the larger the management task.
All the venture capital firms in the above list are making use of virtual data room technology in some form or another. It’s a given. It’s a certainty. It’s a done deal. There’s a good likelihood that many of the venture capital firms that the above-listed companies have invested in recently are likely utilizing a virtual data room solution as well.
This is a great lesson in the importance of acquiring a quality VDR to aid in the VC funding process for a startup entrepreneur.
Revolutionize the manner in which you evaluate and invest with the aid of our data room solution. Say goodbye to the days of searching for data, and hello to a streamlined, productive process.
Whether you’re a venture capitalist seeking to optimize your investment evaluation process, or a start-up seeking to present your business, our data room is the perfect solution for all of your investment needs.
Get started now and experience the power of the most intuitive data room technology!
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