Top venture capital firms in the US: 2026 founders’ list

Top venture capital firms in the US: quick comparison (2026)

Before we move to see the top VC firms in the US, let’s understand how we have selected these firms.

We selected these venture capital firms based on assets under management, recent investment activity, investment stage, sector expertise, portfolio depth, and follow-on capacity. We also considered established VC firm rankings as a comparative signal. TIME and Statista’s 2025 ranking evaluated firms across fundraising strength, investment capacity and activity, and exit and fund performance. Our approach is distinct: we focus on factors that help founders compare firms by stage, sector, and current investment activity.

The top venture capital firms in the US

1. Andreessen Horowitz (a16z)

Founded: 2009

Headquarters: Menlo Park, California

AUM: USD $100B+

Investment stage: Seed, early stage, late stage

Key sectors: AI, bio + healthcare, crypto, enterprise, fintech, infrastructure, consumer, games, and American Dynamism

Top portfolio: OpenAI, SpaceX, Stripe, Databricks, Coinbase, Roblox, Wiz, xAI

2026 edge: In January 2026, a16z closed USD $15 billion, the largest single VC fundraise in history, completed in just three months. The firm holds stakes in 10 of the 15 most valuable private companies globally and 44% of all AI unicorn enterprise value.

Best for: Founders raising Series A — growth rounds in AI, crypto, biotech, or defense tech who want the most active deployer in the market on their cap table.

Andreessen Horowitz (a16z) is a multi-stage venture capital firm that invests from seed through venture and growth stages across a broad range of technology sectors.

In January 2026, a16z announced that it had closed over USD $15B across multiple funds, including USD $1.176B for American Dynamism, USD $1.7B for Apps, USD $700M for Bio + Health, USD $1.7B for Infrastructure, USD $6.75B for Growth, and USD $3B across other venture strategies.

2. Sequoia Capital

Founded: 1972

Headquarters: Menlo Park, California

AUM: ~USD $56B^#

Investment stage: Seed, early stage, growth

Key sectors: AI, enterprise, consumer, fintech, healthcare, crypto, infrastructure, and security

Top portfolio: Apple, Google, Nvidia, Stripe, Airbnb, Snowflake, Harvey, ElevenLabs, Klarna, Figma

2026 edge: In October 2025, Sequoia raised USD $950M across two vehicles — a USD $750M early-stage fund and a USD $200M seed fund. New co-stewards Alfred Lin and Pat Grady took over from Roelof Botha, who distributed USD $50 billion to LPs during his tenure.

Best for: Founders at seed or Series A in enterprise software, AI, or consumer tech who want the deep founder network and long track record in venture capital behind them.

Sequoia Capital is a multi-stage venture capital firm in the US that works with founders from company formation through later stages of growth. Its investment approach spans a range of technology businesses, with the firm supporting companies from pre-seed and seed through growth and IPO stages.

Sequoia has remained active in 2026. In February, it co-led Waymo's USD $16B investment round alongside Dragoneer and DST Global.

3. General Catalyst

Founded: 2000

Headquarters: Cambridge, Massachusetts

AUM: USD $43B+

Investment stage: Seed, early stage, growth

Key sectors: AI, healthcare, defense, fintech, climate & energy, and industrials

Top portfolio: Stripe, Airbnb, Snap, Canva, Mistral, Gusto, HumanX

2026 edge: General Catalyst is in early discussions to raise USD $10 billion in new capital in 2026, which would place it in the same AUM tier as Lightspeed. It is one of the most active firms on this list in healthcare AI, defense technology, and climate infrastructure.

Best for: Founders building in AI-enabled healthcare, climate tech, or defense technology who want a firm with deep sector networks outside the standard SaaS playbook.

General Catalyst is a multi-stage venture capital firm that works with founders from company creation through growth. It reports more than USD $43B in AUM, 900+ portfolio companies, and 45+ hatched companies.

In February 2026, General Catalyst announced a USD $5B commitment to India over five years, covering company creation, seed and growth investments, with a focus on AI, healthcare, defense technology, fintech, and consumer technology.

4. Lightspeed Venture Partners

Founded: 2000

Headquarters: Menlo Park, California

AUM: USD $50B+

Investment stage: Seed, early stage, growth

Key sectors: AI, enterprise, fintech, healthcare, consumer, gaming, and blockchain

Top portfolio: Anthropic, Snap, Databricks, Rubrik, Glean, Wiz, Affirm, Navan, Mistral

2026 edge: Lightspeed closed the largest fundraise in its 25-year history in December 2025, over USD $9 billion across six vehicles.

Best for: AI infrastructure and applied AI founders at seed through Series B who want a firm that has backed Anthropic, Mistral, and Databricks and can open those network doors.

Lightspeed Venture Partners is a multi-stage venture capital firm that backs founders from seed through Series F and beyond. Its portfolio spans areas including AI, enterprise, fintech, healthcare, consumer, gaming, and blockchain.

In December 2025, Lightspeed closed more than USD $9B across six investment vehicles, including early-stage, growth, and opportunity funds. The firm said it had backed 165+ AI-native companies and invested more than USD $5.5B in AI, with most of that capital deployed at the seed, Series A, and Series B stages.

5. Founders Fund

Founded: 2005

Headquarters: San Francisco, California

AUM: ~USD $17B^#

Investment stage: Seed, early stage, growth

Key sectors: AI, aerospace, fintech, biotechnology, energy, and advanced technology

Top portfolio: SpaceX, Palantir, Anduril, Stripe, OpenAI, Ramp, Neuralink, Varda Space

2026 edge: Founders Fund Growth III closed at USD $4.6 billion in April 2025 — oversubscribing against a USD $3 billion target. The firm wrote its largest-ever single check (~USD $1B) into Anduril's USD $2.5B Series G in June 2025.

Best for: Hard tech, defense, and frontier science founders who are building something genuinely difficult and want a firm that writes large, concentrated checks with long conviction.

Founders Fund is a venture capital firm based in San Francisco that invests across stages, sectors, and geographies. Its approach is centered on companies tackling difficult technological or scientific problems, with its portfolio spanning areas such as aerospace, defense, AI, fintech, energy, and advanced technology.

In March 2026, TechCrunch reported that the firm was nearing a USD $6B Growth IV close, less than a year after the previous growth fund. Because the 2026 figure was reported as a pending close, it should not be presented as a completed fundraise without stronger confirmation.

6. Khosla Ventures

Founded: 2004

Headquarters: Menlo Park, California

AUM: USD $16B^#

Investment stage: Seed, early stage, growth

Key sectors: AI, enterprise, fintech, healthcare, sustainability, robotics, and frontier technology

Top portfolio: OpenAI, DoorDash, Stripe, Affirm, Replit, Ramp, Impossible Foods, Commonwealth Fusion Systems

2026 edge: Khosla was the first VC in OpenAI, committing USD $50 million in 2019 for approximately 5%, now worth an estimated USD $8 billion on paper (~160x). The firm raised a dedicated USD $405M SPV for OpenAI's 2024 round and is currently raising ~USD $3.5 billion across three new vehicles.

Best for: Seed and Series A founder in AI, climate tech, and biotech who wants the deepest technical network in Silicon Valley and a firm that leads rather than follows.

Khosla Ventures is a venture capital firm in the US focused on early-stage and technology-intensive companies. Its current portfolio investments range from very early-stage companies to businesses scaling through growth.

In February 2025, Khosla Ventures was reported to be seeking USD $3.5B across three funds, including approximately USD $1.75B for its core venture fund, USD $1.1B for growth investments and USD $650M for a seed-focused vehicle.

The firm was an early investor in OpenAI, investing USD $50M in 2019, according to Vinod Khosla's current profile. For founders comparing top venture capital firms for an early-stage or Series A round, Khosla's emphasis on technically ambitious companies is a relevant distinction.

7. Accel

Founded: 1983

Headquarters: Palo Alto, California

AUM: USD $31B+^#

Investment stage: Seed, early stage, late stage

Key sectors: AI, cloud/SaaS, consumer, fintech, cybersecurity, and enterprise software

Top portfolio: Facebook, Slack, Dropbox, Atlassian, Spotify, CrowdStrike, Anthropic

2026 edge: Accel participated in Anthropic's Series G in February 2026. Its active portfolio spans 1,195 companies across 106 unicorns, 47 IPOs, and 383 acquisitions. Its B2B and enterprise SaaS partner network, particularly in cybersecurity, is among the deepest of any early-stage firm in the US.

Best for: Enterprise SaaS, cybersecurity, and B2B founders who want a firm with genuine global distribution and the ability to support expansion into Europe and India from day one.

Accel is a global venture capital firm that backs technology companies from early stages through later-stage growth. Its portfolio now includes more than 800 companies globally.

In April 2026, Accel announced that it had raised USD $5B in late-stage capital, extending its ability to support companies as they scale. Accel said the same teams that develop conviction early continue working with companies through later stages.

Accel has also remained active in 2026, including leading Agave's Series A and continuing its investment in OpenFX's USD $94M Series A.

8. Bessemer Venture Partners

Founded: 1911

Headquarters: Redwood City, California

AUM: USD $20B+

Investment stage: Seed, early stage, growth

Key sectors: AI, cloud/SaaS, cybersecurity, healthcare, fintech, consumer, and enterprise software

Top portfolio: LinkedIn, Shopify, Twilio, PagerDuty, Pinterest, Canva, Wix

2026 edge: Bessemer runs the annual Cloud 100, the definitive ranking of the world's top private cloud companies, giving it deal flow access that most firms can't replicate. With 145+ IPOs, it is the most exit-proven firm on this list for cloud and SaaS startups.

Best for: Cloud infrastructure and vertical SaaS founders who want an association with the Cloud 100 brand and a firm with a 145+ IPO track record in exactly their category.

Bessemer Venture Partners is a venture capital firm that backs entrepreneurs from their early days through every stage of growth. Its current platform includes 420+ portfolio companies and 150+ IPOs or de-SPACs, with investment roadmaps covering AI, cloud, consumer, crypto, cybersecurity, fintech, healthcare, and vertical software.

Bessemer has remained highly active in 2026. It led Neo Security's USD $100M Series A in July and DriveNets' USD $410M Series D in June, targeting AI-agent security and AI networking infrastructure, respectively.

9. New Enterprise Associates (NEA)

Founded: 1977

Headquarters: Menlo Park, California

AUM: USD $28B+*

Investment stage: Seed, early stage, growth

Key sectors: Technology, enterprise, consumer, fintech, healthcare, life sciences, and digital health

Top portfolio: Salesforce, Workday, Tableau, Robinhood, Duolingo, Plaid

2026 edge: NEA has backed 284 companies through IPO, more than any other firm on this list. Its healthcare and enterprise tech expertise spans 45+ years of active investing, with limited partners and industry networks in regulated markets like pharma, health systems, and government.

Best for: Healthcare, biotech, and regulated enterprise software founders who need a firm with 45+ years of domain depth and the LP relationships that open doors in those markets.

NEA is a multi-stage venture capital firm that partners with companies from seed through IPO. Its investment platform spans technology and healthcare, with its current approach covering seed, Series A through D, and later-stage opportunities.

In July 2026, NEA co-led CuspAI's USD $450M Series B alongside Kleiner Perkins. The AI materials-discovery company was valued at USD $2.6B following the round, which it said would support expansion across the US, Asia-Pacific, and Europe.

NEA has also continued investing across different stages in 2026. In July, it led Databento's USD $97M Series B, while its portfolio includes companies such as Databricks, Cloudflare, Robinhood, and MongoDB.

10. Insight Partners

Founded: 1995

Headquarters: New York City

AUM: USD $90B+

Investment stage: Seed, Series A–D, growth, IPO

Key sectors: Software, AI, cybersecurity, fintech, healthcare, data, and enterprise technology

Top portfolio: Twitter, Shopify, DocuSign, Hootsuite, Qualtrics, Veeam, JFrog

2026 edge: In January 2026, Insight closed Fund XIII at USD $12.5 billion, bringing its total AUM above USD $90 billion and marking its 30th anniversary. The firm has invested in 800+ companies with 55+ IPOs and 100 unicorns in its portfolio as of 2026.

Best for: Growth-stage software founders at USD $2M+ ARR who need more than capital, operational scaling support, go-to-market expertise, and a firm with 130+ dedicated onsite professionals embedded in portfolio companies.

Insight Partners is a global software investor that partners with high-growth technology, software, and Internet companies from early investment through IPO. The firm reports more than USD $90B in regulatory AUM, 900+ investments and more than 55 portfolio-company IPOs.

Insight has remained active in 2026. In May, it led GovWell's USD $25M Series A to expand the company's AI platform for government operations. In February, it also led Hypercore's USD $13.5M Series A to develop an AI-powered administration platform for private credit.

Specialized rankings: top venture capital firms in the US

Best VC firms for AI and deep tech

a16z, Sequoia Capital, Lightspeed Venture Partners, Khosla Ventures, and Founders Fund are among the top venture capital firms with significant AI or deep-tech investment activity. Their portfolios and recent investments span areas such as AI models, infrastructure, defense, robotics, and other frontier technologies.

Best first-check investors (pre-Series A)

Venture firms like Y Combinator, First Round Capital, and Precursor Ventures operate at the earliest stages and are more accessible entry points before you approach the firms above. YC, in particular, has become the most efficient path to tier-1 investors.

Note: This is not a complete directory of seed investors; it is a starting point for founders who are too early for many of the mega-funds on this list.

Best for underrepresented founders

Harlem Capital, Backstage Capital, and Portfolia have active funds and portfolio companies across SaaS, consumer, and health tech.

The 2026 Series A checklist: what tier 1 VCs actually want

What is Series A funding?

It is the first significant round of institutional investment where a startup trades preferred stock for capital to scale a proven business model. Series A stage marks the transition from early product validation to building a repeatable, data-driven growth engine.

To secure a term sheet from major VC firms like Sequoia or a16z in 2026, your story needs to be backed by efficient, defensible numbers. Here's the bar.

2026 Series A benchmarks

• Revenue

Minimum USD $1M–USD $2M ARR. Most tier 1 firms want to see 2-3x year-over-year. Companies in the top decile exhibit USD $3M+ ARR and 3x+ growth.

• Burn multiple

Your burn multiple (net burn ÷ net new ARR) must be below 1.5x. A valuation above 2.0x is currently considered a red flag at Series A. A value below 1.0x provides you with meetings you didn't expect.

• The AI moat test

You must answer, 'How is this defensible when LLMs commoditize your core feature in 18 months?' Focus on proprietary data flywheels, high switching costs, or deep regulatory moats.

• CAC payback

Payback periods for customer acquisition costs should be under 12 months for B2B SaaS. Anything over 18 months requires a strong NRR story to offset it.

• Retention

Enterprise-grade term sheets should aim for a Net Revenue Retention (NRR) of 120%+. Sub-100% NRR at Series A is difficult to recover from in the current environment.

Pro tip for founders: Top VC companies like Sequoia and Accel now run deep forensic audits on burn velocity during due diligence. If your spend tracking is still in a manual spreadsheet, you’re at risk of data discrepancies that kill deals at the finish line.

Platforms like Aspire¹ automate real-time spend visibility so your pitch deck numbers actually match your bank numbers, giving you a clean, auditable record before the first partner meeting.

How to choose among the top venture capital firms

Choosing among the top venture capital firms is about more than AUM. Series A founders should prioritize investors that understand their stage and sector, offer follow-on capacity, and bring relevant expertise or connections. When comparing the largest VC firms with smaller venture capital companies, look at investment stage, sector expertise, portfolio fit, track record, and long-term support.

1. Investment stage: Choose firms that actively invest at your current stage. A startup raising Series A should prioritize investors with a demonstrated Series A track record.

2. Sector expertise: Look for relevant experience in your market, whether that is AI, healthcare, fintech, cybersecurity, or enterprise software.

3. Follow-on capacity: A large fund can indicate greater potential capital availability, but AUM alone does not guarantee follow-on investment. AUM itself can also be calculated differently across investment advisers.

4. Portfolio fit: Review existing investments for relevant expertise, potential conflicts, and useful connections.

5. Track record: Look at investments and outcomes relevant to your stage and sector rather than relying only on the firm's overall size or famous portfolio names.

Final Words

The VC rankings shift year to year, but the firms on this list have compounded returns across multiple market cycles. In 2026, the signal is clear: AI-native startups with strong burn efficiency and a defensible data or distribution advantage are rapidly securing funding.

Know your numbers. Build your data room. Reach out to the right firm for your stage and sector. And when the capital lands, make sure the infrastructure to manage it is already in place.

Your first board meeting will focus on operating efficiency, and most VCs will ask for a clean monthly burn breakdown within 30 days of close. Most founders lose 5+ hours a month manually reconciling cards for board reports.

That's where an all-in-one financial OS like Aspire¹ eliminates that overhead with integrated corporate cards², spend limits, and automated categorization, so your burn reporting is always board-ready.

#AUM figures reflect the latest publicly available figures identified for each firm. Reporting dates and AUM definitions vary by firm, so the figures are directional and should not be treated as perfectly comparable.