Developer tools and cloud infrastructure investing rewards firms with genuine technical depth, since evaluating a database, an API platform, or a dev-ops tool requires understanding how engineering teams actually work - not just reading a pitch deck.
$175B (platform assets, 2022)
Assets Managed
DoorDash's 2020 IPO, which implied a fully diluted valuation of $71.2 billion - CEO Alex Clavel later called it SVF1's best-performing asset, with a $7.3 billion gain on full exit
AIEnterprise SoftwareConsumer InternetLogistics
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Over $100B (the homepage states "With over $100B assets under management"; the firm's own footer defines that as net asset value plus uncalled capital commitments across all ICONIQ accounts and funds, approximate, unaudited and subject to change, with no as-of date given)
Assets Managed
Snowflake (IPO)
TechnologyEnterprise SoftwareReal EstateInfrastructure
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Hellerup, Denmark
Founded 1999
€93B (approx.; DKK 694bn total assets under management at 31 December 2025, per the Novo Holdings Annual Report 2025, of which DKK 407bn is the holding in Novo Nordisk)
Assets Managed
Merus N.V. (acquired by Genmab for $8 billion, 2025)
PharmaceuticalsBiotechMedtechHealthcare
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Menlo Park, CA
Founded 2009
Coinbase's 2021 direct listing on Nasdaq - one of the largest crypto IPOs ever
AICryptoFintechConsumer
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Beijing, China
Founded 2002
US$16.26B (RMB 114.322bn / ￥1143.22亿 of assets under management as of end-2025, stated by the firm on its own About page in both Chinese and English)
Assets Managed
WH Group (万洲国际), the combination of Shuanghui and Smithfield, IPO on the Hong Kong Stock Exchange, August 2014
ConsumerHealthcareHard TechB2B
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Santa Clara, CA
Founded 1991
$12.9B invested since 1991 (cumulative capital deployed)
Assets Managed
No single signature exit - Intel Capital's scale is cumulative: since 1991 it has invested $12.9 billion across more than 1,582 companies worldwide, with 692 reaching an IPO or acquisition, including current public holdi…
AICloud InfrastructureCybersecurity5G
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Bengaluru, India
Founded 2006
Freshworks, which Reuters reported was targeting nearly $9.6 billion ahead of its IPO and which was valued at $12.2 billion on debut-day trading
AIFintechEnterprise SoftwareConsumer
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€4.9B (stated as "Asset Under Management" on cdpventurecapital.it, 2026)
Assets Managed
AICybersecurityAgritechClean Energy
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Menlo Park, CA
Founded 1989
No single signature exit with a verified public dollar figure - Crosslink's track record instead runs through Alpha, its invite-only network of more than 2,000 founders, CEOs, and investors co-founded by General Partner …
AIEnterprise SoftwareConsumer InternetFintech
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Menlo Park, CA
Founded 1999
Netflix - an early investor that backed the company years before streaming existed as a category
Consumer InternetCloud InfrastructureSaaSEnterprise Software
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San Francisco, CA
Founded 2017
Reddit's 2024 IPO on NYSE - Craft backed the company in 2017, years before its public debut
SaaSMarketplacesAICloud/Infrastructure
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San Francisco, CA
Founded 2011
Coinbase's 2021 direct listing - Initialized was an early backer of the exchange, which carried a market capitalization of roughly $41.9 billion by July 2026
Enterprise SoftwareAIInfrastructureConsumer
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Foster City, CA
Founded 2000
Bill.com's NASDAQ IPO in December 2019 - Scale was an early investor and Partner Stacey Bishop led the investment, one of several public listings across HubSpot, DocuSign, JFrog, and Root Insurance
Enterprise SoftwareAICybersecurityDeveloper Tools
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Montreal, Quebec, Canada
Founded 2007
Lightspeed Commerce's 2019 dual listing on the NYSE and TSX - Inovia was Lightspeed's first Canadian investor and helped lead a 2017 buyout that kept the Montreal point-of-sale company from a foreign takeover ahead of it…
AICybersecurityDigital HealthFintech
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San Mateo, CA
Founded 2003
Zoom's 2019 IPO - General Partner Santi Subotovsky led Emergence's investment when the video conferencing company was still a little-known startup, and remains on its board today
Enterprise SoftwareSaaSCloud Infrastructure
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Palo Alto, CA
Founded 1964
$2.3B (2026)
Assets Managed
Enterprise SoftwareInfrastructureCybersecurityCloud
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Seoul, South Korea
Founded 1990
$2.3B (approx.; the firm's figure is ₩3.236 trillion stated as 운용자산(AUM) across 45 funds, per Asia Economy, 26 August 2026 - no USD figure is published by the firm)
Assets Managed
Synap Soft (사이냅소프트) - KOSDAQ listing, November 2024
AIDataRoboticsSaaS
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San Francisco, CA
Founded 2012
$2B+ personal fund (2026, per CB Insights)
Assets Managed
Airbnb's 2020 IPO - one of dozens of pre-IPO checks across a track record including Coinbase, Instacart, Pinterest, and Roblox
AIFintechSaaSMarketplaces
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Menlo Park, CA
Founded 1995
Splunk's NASDAQ IPO under ticker SPLK - an August Capital-era portfolio company; co-founder David Marquardt's pre-firm track record includes an even bigger story: Technology Venture Investors was the sole institutional i…
Enterprise SoftwareCybersecurityDeveloper Tools
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New York, NY
Founded 2020
$2B (the homepage prints "$2B In assets under management *as of 10/01/2025"; the raw date form is carried here because for a US filer 10/01/2025 reads as 1 October 2025)
Assets Managed
Hyperfine (Nasdaq: HYPR), which became publicly traded through HealthCor Catalio Acquisition Corp. (Nasdaq: HCAQ), the special purpose acquisition company of which Catalio co-founder George Petrocheilos was President; th…
HealthcareBiotechMedical DevicesDiagnostics
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Palo Alto, CA
Founded 2012
$1.8B+ invested to date
Assets Managed
JFrog's September 2020 Nasdaq IPO - DTC published a case study celebrating the DevOps company's public debut, part of a run of exits including Arista, DocuSign, MongoDB, Nutanix, SumoLogic, and Zscaler that generated mor…
AICybersecurityData & AnalyticsEnterprise Software
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Sydney, Australia
Founded 2004
$1.5B (firm homepage, 2026; Debt $815M and Venture $660M - the site prints no currency code, so the currency is unresolved and no conversion has been applied)
Assets Managed
Food & AgricultureHealthcareClimateDefense Tech
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San Jose, CA
Founded 1993
$1B AI Fund (2024); historically ~$250-300M deployed annually
Assets Managed
HashiCorp's December 2021 Nasdaq IPO at a roughly $14 billion valuation - Cisco's 2021 year-in-review named it alongside Confluent and GitLab as portfolio IPO milestones; HashiCorp was later taken private in IBM's Februa…
AICybersecurityCloud InfrastructureEnterprise Software
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New York, NY
Founded 2000
$1B (latest fund, 2023)
Assets Managed
Datadog's 2019 Nasdaq IPO - RTP Global was an early Series A-through-D investor in the observability platform, which priced at $27 per share and had grown to a market capitalization of roughly $93 billion by July 2026
AIEnterprise SoftwareFintechDeveloper Tools
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Mountain View, CA
Founded 2017
No confirmed exit yet - Gradient's clearest proof points are current unicorns WRITER and Lambda AI, both still privately held, within a broader 175-plus company portfolio
AIDeveloper ToolsEnterprise SoftwareFintech
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$1B (assets under management, per flybridge.com homepage)
Assets Managed
MongoDB (IPO, 2017)
AIDeveloper ToolsEnterprise SoftwareSaaS
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San Sebastián, Spain
Founded 2008
More than €1B (Inveready company profile via Tech Barcelona, undated, checked 2026; an earlier dated figure of more than €400M was published as at 28 December 2019)
Assets Managed
PasswordBank Technologies, S.L. (acquired by Symantec)
TechnologyLife SciencesBiotechHealthcare
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Menlo Park, CA
Founded 2012
$900M (Fund 6, Fund 6 Select & Amplify Bio, June 2025)
Assets Managed
Datadog's 2019 Nasdaq IPO - Amplify was one of the company's first institutional investors, more than a decade before the observability platform reached a market capitalization of roughly $93 billion by July 2026
AIDeveloper ToolsCybersecurityEnterprise Software
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$770M (Fund X + Acceleration Fund IV, 2025)
Assets Managed
Redfin's 2017 Nasdaq IPO - one of several Madrona 'day one to IPO' partnerships, alongside Smartsheet's 2018 listing and Impinj's public debut
AICloud InfrastructureEnterprise SoftwareMarketplaces
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Palo Alto, CA
Founded 2014
~$700M (firm-stated AUM as of Q3 2025, with ~$550M of committed capital at year-end 2025, per the firm's own "Hack VC 2025 Wrapped", 7 January 2026)
Assets Managed
Rail (acquired by Ripple for $200M, 2025)
CryptoAIWeb3Infrastructure
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New York, NY
Founded 2018
$650M (Dragonfly Ventures IV close announced February 2026; no firm-wide AUM figure is published)
Assets Managed
CryptoDeFiBlockchainInfrastructure
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Berlin, Germany
Founded 2014
Approximately €650M (across 15 funds, reported 31 August 2026 by EU-Startups; the firm's own Redstone Global Ventures ELTIF page states 600m "Assets Under Mangement" [sic] but carries no date)
Assets Managed
FintechDeep TechIndustrial TechEnergy
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Palo Alto, CA
Founded 2013
$600M (Wing Four, 2023)
Assets Managed
Snowflake's 2020 NYSE IPO - Wing was a first-check investor in the data cloud company, which priced at $120 per share and closed its first trading day valued at over $70 billion
AIData InfrastructureEnterprise SoftwareCybersecurity
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Over $500M (stated by the firm on its own About page, undated, checked 2026)
Assets Managed
BlockchainWeb3InfrastructureDeFi
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Singapore, Singapore
Founded 2015
Not publicly disclosed (no dated current AUM figure; the firm's April 2026 announcement gives ~HK$8bn as "Assets under management since inception" at 30 September 2025, and its boilerplate says over US$1bn managed since inception - both cumulative. Fund III closed at US$500M in January 2023)
Assets Managed
BlockchainInfrastructureCryptoAI
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Portola Valley, CA
Founded 2019
$450M (Fund IV + Select Fund, closed May 2022)
Assets Managed
Livongo's $18.5 billion acquisition by Teladoc Health in October 2020 - Threshold (then DFJ) backed Livongo in its earlier stages, making this one of the firm's largest realized exits
Enterprise SoftwareFintechHealthcareDeveloper Tools
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San Francisco, CA
Founded 2013
DoorDash's 2020 IPO - Semil Shah invested in DoorDash's $2.5 million seed round in 2013, one of Haystack's very first bets, made within six months of founding the firm
ConsumerCloud/SaaSAIAutonomy
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Cambridge, MA
Founded 1977
Oculus VR's 2014 acquisition by Facebook for approximately $2.3 billion - Matrix backed the company at an early stage
AIInfrastructureFintechSemiconductors
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Singapore, Singapore
Founded 2018
$450M (total assets under management, November 2024, per GamesBeat reporting the Fund III close; the firm's own homepage still carries the older figure of $175M across two funds from 2021)
Assets Managed
Reworks (acquired by Playtika, 2021)
GamingConsumerB2BInfrastructure
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San Francisco, CA
Founded 2013
$365M (across funds)
Assets Managed
No confirmed exit yet for Zetta's own portfolio - founder Mark Gorenberg's prior 20-year track record at Hummer Winblad includes real, verified exits at Omniture (Adobe), AdForce (CMGI), NetDynamics (Sun Microsystems), a…
AIEnterprise SoftwareDeveloper Tools
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San Mateo, CA
Founded 1982
$265M (Fund XIII, 2023)
Assets Managed
Enterprise SoftwareAICybersecurityCloud Infrastructure
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New York, NY
Founded 2010
$250M (Fund VII, 2025)
Assets Managed
CybersecurityAI InfrastructurePhysical AIDeveloper-First Infrastructure
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Newark, California
Founded 2021
$202M (Fund II, 2024)
Assets Managed
Weights & Biases (acquired by CoreWeave, 2025)
AIAI InfrastructureApplied AIMachine Learning
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San Francisco, CA
Founded 2016
$170M (Spectrum 28 debut fund, 2016)
Assets Managed
Enterprise SoftwareSaaSDeveloper ToolsCybersecurity
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New York, NY
Founded 2013
$160M+ (Fund III)
Assets Managed
Oort's acquisition by Cisco - one of several strategic exits in 645's portfolio, alongside LeagueApps' acquisition by Accel-KKR
FintechEnterpriseHealthtechCybersecurity
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New York, NY
Founded 2013
$160M+ (latest fund)
Assets Managed
CoreOS's acquisition by Red Hat - one of several enterprise infrastructure exits in Work-Bench's portfolio, alongside Semmle's acquisition by GitHub
Enterprise SoftwareAI/MLDeveloper ToolsInfrastructure
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Menlo Park, CA
Founded 2008
$150M (latest closed fund)
Assets Managed
Lyft's 2019 Nasdaq IPO - Ann Miura-Ko's seed bet in the company then known as Zimride is among the best-known pre-seed checks in venture capital
Consumer InternetSaaSMarketplacesFintech
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$150M (one named vehicle only - "Delta Liquid Fund has an AUM of $150 million", deltafund.io/about-us, checked 2026. No firm-level AUM is published)
Assets Managed
BlockchainDeFiCryptoGaming
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Mountain View, CA
Founded 2012
Not disclosed ($150M NEXT Fund, 2017; undisclosed AI-focused Q Fund, 2018)
Assets Managed
No single dollar-verified signature exit - Samsung NEXT's scale is cumulative instead: more than 230 investments and 330+ companies backed since inception, run by a 38-person team spanning Silicon Valley, Los Angeles, Ne…
AIFintechHealthcareCloud Infrastructure
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Not publicly disclosed (no AUM figure is published; a $145M second crypto fund was formed in 2022, per the Lowenstein Sandler announcement of 12 May 2022)
Assets Managed
CryptoWeb3BlockchainInfrastructure
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$136M (Fund IV close, October 2025, per Fortune; CMT Digital publishes no firm-wide AUM figure - prior funds were $25.5M, $130M and $100M)
Assets Managed
Circle Internet Group, Inc. (IPO June 2025; NYSE ticker CRCL)
BlockchainDeFiCryptoFintech
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San Diego, CA
Founded 2009
$130M (Fund III, 2023)
Assets Managed
BiotechHealthcareFintechConsumer Products
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Barcelona, Spain
Founded 2019
Over €100M (total assets under management, February 2025, reported at the first close of the €50M Fund III)
Assets Managed
Replica Analytics (acquired by Aetion; named as an exit in Nina Capital's own 16 February 2022 press release)
Health TechDigital HealthDataAI
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San Francisco, CA
Founded 2013
$85M (across two funds)
Assets Managed
Chime's Nasdaq IPO in June 2025 under ticker CHYM - one of Homebrew's earliest bets, the company priced at $27 a share, popped 37% on debut, and reached an $11.6 billion valuation
FintechDeveloper ToolsAI
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New York, NY
Founded 2021
Not publicly disclosed (no AUM figure is published; sourced fund sizes only - Archetype I at $55M, Archetype II at $150M, and Archetype III announced 22 September 2025 with over $100M in total capital commitments)
Assets Managed
CryptoBlockchainInfrastructureDeFi
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New York, NY
Founded 2025
$30M+ (debut fund)
Assets Managed
No public exit yet - Worldbuild closed its debut fund in 2026 and is still building its earliest cohort, including SF Compute and Browserbase
AI InfrastructureDeveloper ToolsAerospaceEnergy
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San Francisco, CA
Founded 2025
$22M+ (debut fund)
Assets Managed
No public exit yet - Modern Technical Fund closed its debut fund in 2025 and is still building its earliest cohort of technical founders
InfrastructureDataSecurityDeveloper Tooling
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Tokyo, Japan
Founded 2016
1,030億円 (approx. JPY 103bn; cumulative group AUM stated by the firm on 15 July 2026 on the close of the ninth fund run by SIP)
Assets Managed
AIInfrastructureSmart CitiesFintech
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Los Angeles, CA
Founded 2013
$50-99M (total assets under management, the range as published in the ImpactAssets IA 50 2023 manager profile; the firm publishes no point AUM figure of its own)
Assets Managed
Rachio (acquisition by Rain Bird, announced 2025)
Clean EnergySmart CitiesIndustrial TechInfrastructure
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Palo Alto, CA
Founded 2000
Not publicly disclosed
Assets Managed
No specific blockbuster exit publicly listed - Storm's track record instead spans more than 200 investments and multiple acquisitions across two-plus decades of early-stage B2B enterprise software investing
Enterprise SoftwareCybersecurityAIDeveloper Tools
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San Francisco, CA
Founded 2005
Not disclosed as traditional AUM ($500K standard check per company; YC Continuity growth fund)
Assets Managed
Coinbase's 2021 Nasdaq direct listing at an $85 billion valuation - the most valuable company in YC history at time of listing
AISaaSConsumer InternetFintech
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San Francisco, CA
Founded 2013
Not publicly disclosed
Assets Managed
Developer ToolsCloud InfrastructureEnterprise Software
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Not publicly disclosed
Assets Managed
Machine IntelligenceData ScienceDistributed SystemsAutomation
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Not publicly disclosed
Assets Managed
Xactly (acquired by Vista Equity Partners, 2017)
B2B SoftwareEnterprise SoftwareSaaSData & Analytics
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Stamford, CT
Founded 2015
CoinDesk (sold to Bullish Global, announced 20 November 2023; terms not disclosed)
CryptoBlockchainWeb3DeFi
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St. Louis, MO
Founded 2012
Label Insight (acquired by NielsenIQ, 2021)
Life SciencesHealth TechSoftwareTechnology
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Lyon, France
Founded 2017
Trustpair (acquired by Basware, announced by Axeleo Capital on 26 August 2026)
CybersecurityAIData InfrastructureFintech
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Salt Lake City, UT
Founded 1986
Not publicly disclosed (no firm-level AUM figure is published; the firm's own 28 January 2025 post states it raised $500m for its eighth venture fund, filed on EDGAR across Pelion Ventures VIII, VIII-A, VIII-C and an Entrepreneurs Fund)
Assets Managed
Aumni (acquired by J.P. Morgan, announced on Pelion's own news index dated 6 April 2023)
TechnologyAIMarketplacesSecurity
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Cambridge, MA (US) and Paris, France (EU)
Founded -
BiotechDigital HealthTherapeuticsPharmaceuticals
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Shanghai, China
Founded -
MiniMax (Hong Kong Stock Exchange listing, January 2026)
Deep TechAIPhysical AIEnterprise Software
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Munich, Germany (Seitzstr. 14, 80538 München, per the legal notice)
Founded -
B2B SoftwareEnterprise SoftwareAIData
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