Firm profiles compiled by Lawrence Aragon, Daniel Humphrey Rodriguez, Stephen Schultz, Larraine Valentino and Dayo Wan. Source for all entries: PEI research, unless otherwise indicated.

Click here for the full ranking and more coverage.

11 – Founders Funds

Five-year fundraising total: $4,511m

HQ: San Francisco
Year founded: 2005

Select LPs: Fund III (vintage 2010) includes Darwin Ventures, Endowment Master Fund and Hatteras Investment Partners. Grantham Foundation is an investor in Funds V (vintage 2014) and VI (vintage 2016) and Metropolitan Government of Nashville and Davidson County Employees’ Benefit Trust Fund is a backer of Founders Fund Growth (vintage 2019).

12 – Battery Ventures

Five-year fundraising total: $4,251m

HQ: Boston
Year founded: 1983

Select LPs: Fund XII (vintage 2018) includes Alaska Permanent Fund, Alaska Retirement Management Board, Public School and Education Employee Retirement Systems of Missouri, San Francisco Employees’ Retirement System, Guardian Life Insurance Company of America, University of Michigan, University System of New Hampshire and Ventura County Employees Retirement Association.

13 – Bessemer Venture Partners

Five-year fundraising total: $3,975m

HQ: San Francisco
Year founded: 1911

Select LPs: Fund VIII (vintage 2011) includes ATP Private Equity Partners, Ewing Marion Kauffman Foundation, HarbourVest Partners, John D and Catherine T MacArthur Foundation, Tennessee CRS, UC Regents, University of California Retirement Plan and University of Washington. Fund IX (vintage 2014) includes ATP Private Equity Partners and Penn Mutual Life Insurance Company.

14 – GGV Captial

Five-year fundraising total: $3,779m

HQ: Menlo Park
Year founded: 2000

Select LPs: GGV Capital VII (vintage 2018) includes California State Teachers’ Retirement System, Maryland State Retirement and Pension System, Orange County Employees Retirement System, Oregon Public Employees’ Retirement Fund, San Francisco Employees’ Retirement System, University of California Retirement Plan and Ventura County Employees Retirement Association.

15 – Flagship Pioneering

Five-year fundraising total: $3,414m

HQ: Cambridge
Year founded: 2000

Select LPs: Fund VI (vintage 2017) includes Delaware Public Employees’ Retirement System, Massachusetts Pension Reserves Investment Management Board, Renaissance Venture Capital Fund, State of Michigan Retirement Systems and The Grantham Foundation.

16 – Qiming Venture Partners

Five-year fundraising total: $3,411m

HQ: Shanghai
Year founded: 2006

Select LPs: Qiming Venture Partners V (vintage 2016) includes Commonfund Capital, Dietrich Foundation, Duke University Management Co, Hall Capital Partners, Massachusetts Institute of Technology, Mayo Clinic, Princeton University Investment Company and the Robert Wood Johnson Foundation.

17 – IVP

Five-year fundraising total: $2,900m

HQ: Menlo Park
Year founded: 1980

Select LPs: IVP XVI (vintage 2017) includes Alaska Retirement Management Board, Bush Foundation, LA Fire & Police Pension System, Maryland State Retirement and Pension System, Public Employees’ Retirement System of Nevada, San Francisco Employees’ Retirement System, Teachers’ Retirement System of the State of Illinois and Texas County and District Retirement System.

18 – Shunwei Capital Partners

Five-year fundraising total: $2,859m

HQ: Beijing
Year founded: 2011

Select LPs: Siguler Guff is an investor in Shunwei China Internet Fund.

19 – Matrix Partners

Five-year fundraising total: $2,848m

HQ: San Francisco
Year founded: 1977

Select LPs: Matrix Partners X (vintage 2013) includes the Andrew W Mellon Foundation, the John D and Catherine T MacArthur Foundation, University of Michigan (UM) and Virginia Retirement System. Matrix Partners IX (vintage 2009) includes the MacArthur Foundation, Mellon Foundation, UM, Carnegie Corporation of New York, Conrad N Hilton Foundation and Gothic Corporation.

20 – Sapphire Ventures

Five-year fundraising total: $2,815m

HQ: Palo Alto
Year founded: 1996

Select LPs: SAP Ventures Fund I (vintage 2011) and Fund II (vintage 2013) include SAP, according to Private Equity International. Sapphire started out as the corporate venture arm of SAP but became an independent entity in 2011.

21 – ICONIQ Capital

Five-year fundraising total: $2,770m

HQ: San Francisco
Year founded: 2011

Select LPs: ICONIQ Strategic Partners V (vintage 2020) includes Canada Pension Plan Investment Board, while ICONIQ Strategic Partners II (vintage 2015) includes the Eli and Edythe Broad Foundation. IPI Data Centers (vintage 2017) includes Fort Worth Employees’ Retirement Fund, Illinois State Board of Investment and Liberty Mutual Retirement Benefit Plan, according to PitchBook.

22 – ARCH Venture Partners

Five-year fundraising total: $2,560m

HQ: Chicago
Year founded: 1986

Select LPs: Fund IX (vintage 2016) includes Alaska Permanent Fund, North Carolina State Treasury, Rockefeller Brothers Fund, the Commonwealth Fund and the Grantham Foundation. Fund VIII (vintage 2014) includes Alaska Permanent, North Carolina, Ireland Strategic Investment Fund and the UTIMCO.

23 – Sofinnova Partners

Five-year fundraising total: $2,355m

HQ: Paris
Year founded: 1972

Select LPs: Sofinnova Capital VIII (vintage 2015) includes BPI France, CNP Assurances, European Investment Fund, Skandia Mutual Life Insurance Company and Surdna Foundation.

24 – Lux Capital Management

Five-year fundraising total: $2,132m

HQ: New York
Year founded: 2000

Select LPs: Lux Ventures V (vintage 2017) includes the Inasmuch Foundation, John S and James L Knight Foundation and the Grantham Foundation. Lux Ventures III (vintage 2011) includes Grantham, Crown Venture Investment Fund and Nassau Reinsurance Group and the Grantham Foundation.

25 – Menlo Ventures

Five-year fundraising total: $1,800m

HQ: Menlo Park
Year founded: 1976

Select LPs: Menlo Ventures XIV (vintage 2014) includes Deseret Mutual Benefit Administrators, State of Michigan Retirement Systems, State Teachers Retirement System of Ohio and Washington State Investment Board. Menlo Ventures XV (vintage 2020) includes the New Mexico State Investment Council.

26 – Summit Partners

Five-year fundraising total: $1,730m

HQ: Boston
Year founded: 1984

Select LPs: Summit Partners Venture Capital Fund V (vintage 2020) includes CalSTRS, Maine Public Employees Retirement System, Merced County Employees Retirement Association, Sacramento County Employees’ Retirement System, State Teachers Retirement System of Ohio, Teachers’ Retirement System of Louisiana and Texas County and District Retirement System.

27 – Sinovation Ventures

Five-year fundraising total: $1,721m

HQ: Beijing
Year founded: 2009

Select LPs: Innovation Works Development Fund II (vintage 2012) includes Sequoia Capital, Silicon Valley Bank, SingTel Innov8, The Passport Foundation and WI Harper Group. Sinovation Fund III (vintage 2015) includes the Hall Family Foundation, IFC and the Grantham Foundation. Sinovation Fund IV (vintage 2018) includes BBVA, Hon Hai Precision Industry and LACERA.

 

28 – Rocket Internet

Five-year fundraising total: $1,679m

HQ: Berlin
Year founded: 2007

Select LPs: Rocket Internet Capital Partners Fund (vintage 2016) includes Elo Mutual Insurance Company, European Investment Fund, the Robins Foundation and Rocket SE. Rocket Internet Fund also includes Access Industries, per PitchBook. Rocket Internet Capital Partners SCS (vintage 2017) includes Danica Pension, Elo Mutual Pension Insurance and European Investment Fund, PitchBook reports.

29 – DCM Ventures

Five-year fundraising total: $1,650m

HQ: Menlo Park
Year founded: 1996

Select LPs: Fund VI (vintage 2010) includes Alaska Permanent Fund, Henry J Kaiser Family Foundation, Indiana Public Retirement System, Kentucky Retirement Systems, San Francisco Employees’ Retirement System, University of California Regents Endowment Fund, University of California Retirement Plan and West Midlands Pension Fund.

30 – Morningside Venture Capital

Five-year fundraising total: $1,604m

HQ: Shanghai
Year founded: 1986

Select LPs: Shanghai Chenxi Venture Capital Fund (vintage 2017) includes CreditEase, Gopher Asset Management and Shengjing Group. Morningside China TMT Fund III (vintage 2014) includes the Robert Wood Johnson Foundation.

31 – Atomico

Five-year fundraising total: $1,585m

HQ: London
Year founded: 2006

Select LPs: Atomico IV (vintage 2016) includes AP Fonden 3 and AP Fonden 6, Banca March and the South Yorkshire Pensions Authority. Atomico V (vintage 2018) includes the European Investment Fund.

32 – Bain Capital Ventures

Five-year fundraising total: $1,500m

HQ: Boston
Year founded: 1984

Select LPs: Bain Capital Fund XIII (vintage 2020) includes New Mexico State Investment Council and Tennessee Consolidated Retirement System. Bain Capital Venture Fund 2019 (vintage 2018) includes the University of Michigan, while the Bain Capital Double Impact Fund (vintage 2017) includes LACERS, LAFPP and the Surdina Foundation.

33 – DCVC

Five-year fundraising total: $1,489m

HQ: Palo Alto
Year founded: 2012

Select LPs: DCVC V (vintage 2019) includes Texas County and District Retirement System. Data Collective IV (vintage 2016) includes the Jim Joseph Foundation, and Data Collective III (vintage 2014) includes Case Western Reserve University and the Jim Joseph Foundation.

34 – IDG Capital

Five-year fundraising total: $1,413m

HQ: Beijing
Year founded: 1992

Select LPs: IDG China Venture Capital Fund V (vintage 2017) includes Delaware PERS, Texas County and District Retirement System, the Leona M and Harry B Helmsley Charitable Trust and the University of Michigan. IDG Breyer Capital Fund (vintage 2018) includes Breyer Capital, Delaware PERS and Hon Hai Precision Industry. IDG China Venture Capital Fund VI (2020) includes Delaware PERS.

35 – Oak HC/FT

Five-year fundraising total: $1,400m

HQ: Greenwich
Year founded: 2014

Select LPs: Oak HC/FT Partners III (vintage 2019) includes Los Angeles City Employees’ Retirement System and Los Angeles Fire & Police Pension System. Oak HC/FT Partners II (vintage 2017) includes Alaska Retirement Management Board, LACERS and Los Angeles Fire and Pantheon International, while Oak/HC/FT Partners (vintage 2014) includes Alaska Retirement Management Board.

36 – 8VC

Five-year fundraising total: $1,395m

HQ: San Francisco
Year founded: 2012

Select LPs: 8VC Fund II (vintage 2018) includes University of Michigan. Fund II also includes Employees’ Retirement Plan of Duke University and the Markle Foundation, PitchBook reports.

37 – Third Rock Ventures

Five-year fundraising total: $1,386m

HQ: Boston
Year founded: 2007

Select LPs: Third Rock Ventures III (vintage 2013) includes Alameda County ERA, HarbourVest Partners, Industriens Pension, Laborers’ District Council and Contractors’ Pension Fund of Ohio, Partners Healthcare, San Mateo County ERA and the Richard Salomon Family Foundation. Third Rock Ventures IV (2016) includes Laborers’ District Council and the Pritzker Traubert Foundation.

38 – EQT Ventures

Five-year fundraising total: $1,379m

HQ: Stockholm
Year founded: 2016

Select LPs: EQT IX (vintage 2020) includes Cathay Life Insurance, Chicago Teachers’ Pension Fund, Fubon Life Insurance, Houston Firefighters’ Relief and Retirement Fund, New York State Common Retirement Fund, State of Wisconsin Investment Board and Teachers’ Retirement System of the State of Illinois.

39 – FirstMark Capital

Five-year fundraising total: $1,370m

HQ: New York
Year founded: 2008

Select LPs: Fund IV (vintage 2016) includes NYC Fire Department Pension Fund, NYC Police Pension Fund, Oklahoma PPRS, State of Michigan Retirement Systems, Surdna Foundation, Grantham Foundation and Guardian Life Insurance Company of America. Fund V (vintage 2019) includes Oklahoma PPRS and the State of Michigan Retirement Systems.

40 – Cathay Innovation

Five-year fundraising total: $1,365m

HQ: Paris
Year founded: 2015

Select LPs: Cathay Innovation Fund II (vintage 2019) includes BPI France, Dassault Developpement, GL Events, Groupe SEB, L’Oréal, Michelin Group and Valeo. Cathay Africinvest Innovation Fund (vintage 2019) includes Swiss Investment Fund for Emerging Markets.

41 – Source Code Capital

Five-year fundraising total: $1,354m

HQ: Beijing
Year founded: 2014

Select LPs: Source Code Capital Fund I (vintage 2014) includes Sequoia Capital.

42 – Social Capital

Five-year fundraising total: $1,320m

HQ: Palo Alto
Year founded: 2011

Select LPs: The John S and James L Knight Foundation invested in Social Capital Partnership III (vintage 2015) and Social Capital Partnership II (vintage 2013). Fund III includes the Mayo Pension Plan and Metropolitan Life Insurance, according to PitchBook. Other LPs in undisclosed Social Capital funds include individual Kevin Rose, Knightsbridge Advisers and the Mayo Clinic, PitchBook reports.

43 – Kleiner Perkins

Five-year fundraising total: $1,304m

HQ: Menlo Park
Year founded: 1972

Select LPs: KPC&B XIV (vintage 2010) includes Andrew W Mellon Foundation, Carnegie Mellon University, Darwin Ventures, Denison University, Gordon & Betty Moore Foundation, Rice University, the David & Lucile Packard Foundation, the Eli and Edythe Broad Foundation, University of Colorado Foundation.

44 – OrbiMed Advisors

Five-year fundraising total: $1,302m

HQ: New York
Year founded: 1989

Select LPs: OrbiMed Private Investments VI (vintage 2015) includes Cincinnati Retirement System, George Kaiser Family Foundation, Oklahoma State Regents For Higher Education, Oregon PERF, Oregon State Treasury, SFERS, Tennessee CRS, Texas County and District Retirement System, the Grable Foundation and the Leona M and Harry B Helmsley Charitable Trust.

45 – Frazier Healthcare Partners

Five-year fundraising total: $1,298m

HQ: Seattle
Year founded: 1991

Select LPs: Frazier Life Sciences VIII (vintage 2015) includes Andrew W Mellon Foundation, John D and Catherine T MacArthur Foundation, Maryland State Retirement and Pension System, Penn Mutual Life Insurance Company and Richard King Mellon Foundation. Maryland SRPS is also an investor in Frazier Life Sciences X (vintage 2019) and Frazier Life Sciences IX (vintage 2017).

46 – Versant Ventures

Five-year fundraising total: $1,292m

HQ: San Francisco
Year founded: 1999

Select LPs: Versant Venture Capital V (vintage 2013) includes Bayer AG, Fonds de Solidarité FTQ, Illinois Municipal Retirement Fund, Northleaf Capital Partners, Richard King Mellon Foundation, Teralys Capital and the Business Development Bank of Canada. Versant Venture Capital VI (vintage 2016) includes Illinois Municipal, SFERS, the Heinz Endowments and the William Penn Foundation.

47 – Atlas Venture

Five-year fundraising total: $1,280m

HQ: Cambridge
Year founded: 1980

Select LPs: Atlas Venture Fund IX (vintage 2012) includes AMGEN, Industriens Pension, Laborers’ District Council and Contractors’ Pension Fund of Ohio, Novartis International AG, Pennsylvania State University, PGWA Pension & Health Plans and the Grantham Foundation. Atlas Venture Fund X (vintage 2015) includes Industriens Pension, Laborers’ District Council and Mount Holyoke College.

48 – Mayfield Fund

Five-year fundraising total: $1,275m

HQ: Menlo Park
Year founded: 1969

Select LPs: Mayfield XV (vintage 2016) includes Alaska Permanent Fund, Alaska Retirement Management Board, Illinois Municipal Retirement Fund, Oregon Public Employees’ Retirement Fund, Oregon State Treasury, Public Employees’ Retirement System of Nevada, San Francisco Employees’ Retirement System and Texas County and District Retirement System.

49 – Clarus Ventures

Five-year fundraising total: $1,270m

HQ: Cambridge, Massachusetts
Year founded: 2005

Select LPs: Clarus Lifesciences II (vintage 2008) includes ATP Private Equity Partners, Caisse de dépôt et placement du Québec, California Public Employees’ Retirement System, CalPERS, Carnegie Mellon University, Fort Washington Capital Partners Group, SFERS, State of Michigan Retirement Systems, the Dietrich Foundation, the John Merck Fund, UniSuper and Utah Capital Investment.

50 – Venrock

Five-year fundraising total: $1,260m

HQ: Palo Alto, California
Year founded: 1969

Select LPs: Venrock Associates VI (vintage 2010) includes J. Paul Getty Trust, San Francisco Employees’ Retirement System, Surdna Foundation, Tennessee Consolidated Retirement System and the Wellcome Trust. Venrock Associates VII (vintage 2014) includes Muriel McBrien Kauffman Foundation, Surdna Foundation and Tennessee Consolidated Retirement System.

Correction: A previous version of the profiles above incorrectly identified All Souls College (Oxford) Endowment as an LP in #20 Sapphire Ventures, according to PitchBook. Sapphire Ventures said the information is inaccurate.