The definitive database of 1,006 emerging VC funds โ all under $200M, spanning 2011โ2026. $78B in total capital across 230+ locations. Search, filter, and benchmark Fund I through Fund V managers.
| Year | Funds | Capital | Avg | Median |
|---|---|---|---|---|
| 2011 | 12 | $0.7B | $56M | $29M |
| 2012 | 44 | $2.8B | $64M | $50M |
| 2013 | 42 | $2.7B | $64M | $40M |
| 2014 | 85 | $6.3B | $74M | $52M |
| 2015 | 57 | $4.6B | $80M | $60M |
| 2016 | 81 | $7.3B | $90M | $75M |
| 2017 | 142 | $11.4B | $80M | $65M |
| 2018 | 83 | $6.0B | $72M | $55M |
| 2019 | 45 | $3.7B | $82M | $56M |
| 2020 | 42 | $3.0B | $72M | $59M |
| 2021 | 86 | $6.9B | $80M | $70M |
| 2022 | 58 | $4.4B | $76M | $53M |
| 2023 | 40 | $3.6B | $90M | $75M |
| 2024 | 87 | $6.9B | $79M | $75M |
| 2025 | 76 | $5.9B | $78M | $56M |
| 2026 | 26 | $1.9B | $73M | $78M |
| Total | 1,006 | $78B | $78M | $60M |
| Fund Name | Raised | Year โ |
|---|---|---|
| Antler US Fund | $160M | 2026 |
| Convective Capital | $85M | 2026 |
| Bridgewest Ventrues | $37M | 2026 |
| Refactor Capital | $50M | 2026 |
| Worldbuild | $30M | 2026 |
| Haystack Ventures | $85M | 2026 |
| Humbition | $45M | 2026 |
| Texas Oncology | $62M | 2026 |
| Collide Capital | $95M | 2026 |
| Scout Ventures | $125M | 2026 |
| Breakout Ventures | $114M | 2026 |
| Pax | $50M | 2026 |
| TheFounderVC | $5M | 2026 |
| Also Capital | $50M | 2026 |
| SNAK Venture Partners | $50M | 2026 |
| 2048 Ventures | $82M | 2026 |
| Deep33 | $150M | 2026 |
| Wisdom Ventures | $77.7M | 2026 |
| Gateway Capital | $25M | 2026 |
| Breakout Ventures | $114M | 2026 |
| Zero Shot | $100M | 2026 |
| Top Down Ventures Founders Fund | $28M | 2026 |
| Version One Ventures | $108M | 2026 |
| Eka Ventures | $107M | 2026 |
| Herbert Ventures | $35M | 2026 |
First-time funds must show deal-by-deal IRR from angel investing, syndicate leads, or prior fund roles. 5โ10 high-quality companies with strong co-investors beat theory every time.
Why will you see deals others won't? Operators-turned-investors have proprietary networks. Domain expertise and geographic focus create defensible deal flow moats.
Sector-specific funds are closing faster than generalist in 2026. AI, defense tech, and climate funds attract LP capital at a premium. Average close: 12โ18 months.
Institutional anchors from Cendana, Sapphire, or known family offices signal credibility. Early LP composition is the single biggest predictor of future fundraising success.
A $50M Fund I at 3x beats a $200M Fund I at 1.5x. Sub-$200M funds have historically outperformed mega-funds at seed stage. Smaller = better return math.
'B2B SaaS for SMBs in the Southeast replacing legacy software' โ that's evaluatable. Broad theses don't differentiate. The narrower the thesis, the easier to build conviction.
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