Top Active Venture Capital Firms in Q3 2024
Global venture funding showed signs of recovery in Q2 2024, rising 5% from the previous quarter according to Bain & Company, bringing relief to entrepreneurs worldwide. This uptick continues a trend of steady growth in venture capital funding that began in Q4 2023. While current levels remain below the record highs of 2021, this consistent increase in investment breeds optimism in the startup ecosystem.
Today, we are going to go over some of the venture capital firms that may be directly responsible for this trend. In this article, we will go over the most active venture capital firms of Q3 2024 and their investing ethos. Read on to know more!
Most active venture capital firms of Q3 2024
The venture capital firms that have made the greatest number of investments in Q3 2024 are as follows:
Techstars
Number of investments in Q3 2024: 62
Founded in 2006, Techstars supports early-stage startups by providing funding and fundraising opportunities and various other things like mentorships through its accelerator programs. So far, it has invested in over 6,000 startups while focusing on startups operating in finance-related and consulting sectors.
Techstars has been the lead investor in more than 3,000 startups, has over 1,500 diversity investments, and more than 4,500 portfolio organizations. Hence, Techstars is by far the most active venture capital firm, not only in this quarter but also over its entire life.
Techstars believes that startup founders, corporate employees, visionary dreamers, and entrepreneurs can solve the greatest challenges of our time. Techstars aims to help such individuals tackle any risks they face and opportunities they must seize.
Techstars’ conviction is that great ideas can come from anywhere. Hence, they are willing to look past developed countries when looking for investment opportunities.
FJ Labs
Number of investments in Q3 2024: 48
Placed second on our list, FJ Labs does angel investing at a venture scale focusing on financial services, lending, and investment startups. Since it operates as an angel investor, it co-invests along with institutional venture funds and does not lead rounds or take board seats.
The main focus at FJ Labs is on businesses that can benefit from network effects or operate as marketplaces. It shortlists investment opportunities by looking at unit economics and the potential to become the market leader. FJ Labs invests in marketplaces since they can act as platforms where entrepreneurs can interact and enable each other, ultimately improving the human condition.
While FJ Labs focuses on American startups, to date, it has invested in more than 50 countries.
At FJ Labs, other venture capital firms and its entrepreneur network are the deal sources that account for more than 80% of the investments.
Andreessen Horowitz
Number of investments in Q3 2024: 40
Contrary to FJ Labs, Andreessen Horowitz is a venture capital firm that has been the lead investor in 722 startups out of the 1,598 startups it has invested in. This suggests that Andreessen Horowitz takes a more active role in supporting the startups they invest in.
Andreessen Horowitz believes that tech startups, or little startups, are the key to ensuring American tech supremacy, one of the three reasons why the USA has surpassed other countries with other reasons being its economy and military.
It does not shortlist investment opportunities by startup stage and invests mainly in tech companies operating in artificial intelligence (AI), bio + healthcare, consumer, crypto, enterprise, fintech, games, and infrastructure.
To help their portfolio companies grow, Andreessen Horowitz is trying to build a network that connects the business side comprising entrepreneurs, investors, executives, and employees with the academic side comprising academics, industry experts, and cultural geniuses.
General Catalyst
Number of investments in Q3 2024: 36
General Catalyst is another venture capital firm with a high percentage of lead investments. This venture capital firm typically invests in health tech, fintech, crypto, consumer-facing, and enterprise-facing startups. Its portfolio companies include Snapchat, Stripe, HubSpot, Kayak, Fivetran, and Canva.
General Catalyst describes itself as an agent of change supporting responsible innovation. It is the General Catalyst’s conviction that, in the future, enduring companies will be the ones that align well with societal values. It aims to go beyond just impact investing or adhering to Environmental, Social, and Governance (ESG) principles.
By sticking to the following principles, General Catalyst aims to help founders build large-scale, successful businesses that also contribute to societal well-being:
- Innovate intentionally
- Advance inclusive prosperity
- Respect people and their privacy
- Operate with accountability and transparency
- Build sustainably
- Champion diversity
- Promote a healthy society
Innovate UK
Number of investments in Q3 2024: 29
Innovate UK describes itself as an innovation agency established by the UK government. It comes under UK Research and Innovation, a non-departmental public body. Innovate UK invests in various sectors including emerging technologies through grants through funding competitions. In addition to funding, Innovate UK also supports companies by inspiring them to take action by looking for and presenting opportunities, and by bringing together relevant organizations and people.
Currently, the five strategic themes that Innovate UK is focusing on are:
- Building a green future
- Building a secure and resilient world
- Creating opportunities and improving outcomes
- Securing health, aging and wellbeing
- Tackling infections
Innovate UK wants to support startups that can help us meet our sustainability goals, make communities more resilient to natural disasters as well as modern hazards like cybercrimes, reach economic equality, and improve healthcare.
Antler
Number of investments in Q3 2024: 28
Antler calls itself the ‘world’s day zero investor,’ and staying true to its name, it invests even at the pre-team and pre-idea stage across the six continents with permanent populations. This Singapore-based venture capital firm places more weight on people rather than on ideas. It believes that a great team with a mediocre idea will outperform a mediocre team with a great idea.
Antler has a pre-seed residency program where founders can come together to develop high-potential startups and at a later stage, Antler has a right to invest a certain amount in exchange for 7% to 12.5% of equity.
If Antler invests at the pre-seed as the first investor, it will do so using SAFE notes. In seed rounds, Antler invests only if the investment terms set by lead investors are founder-friendly.
Typically, Antler co-invests in Series A and beyond rounds along with local, regional, or global investors and other venture capital (VC) firms. Here too, Antler promotes founder-friendly investment terms.
Alumni Ventures
Number of investments in Q3 2024: 27
Alumni Ventures curates professional-grade venture portfolios for individual accredited investors and institutional investors. Currently, Alumni Ventures has 33 funds where fellow alumni of some American universities can co-invest in startups with ties to their university.
The investment teams in these funds are also led by fellow alumni. This is one of the routes that makes private equity investments more approachable for individual accredited investors.
Alumni Ventures also operates the AV Foundation Fund where all accredited investors can partake in private equity.
The investment strategy at Alumni Ventures revolves around sectoral, stage-wise, and geographic diversification and thorough and disciplined research. It also believes in investing alongside established lead investors.
Its portfolio consists of more than 1,400 companies and it adds approximately 250 companies every year.
Sequoia Capital
Number of investments in Q3 2024: 24
Founded in 1972, Sequoia Capital has an illustrious history having backed Atari and Apple with its first $3 million fund. Other companies that received support from Sequoia Capital include Cisco, Google, Instagram, Airbnb, and Stripe. Its partner base is dominated by nonprofits and schools such as the Ford Foundation and Boston Children’s Hospital.
The fact that 25% of NASDAQ’s total value comes from Sequoia Capital-backed companies is a testament to its rich history and ability to spot promising startups and develop them into stalwarts.
Sequoia Capital tries to partner early with exceptional founders who are sometimes seen as outliers but have an unwavering spirit to see their ideas to fruition. It takes a very direct and collaborative approach with an emphasis on teamwork and not on showmanship. It typically acts as a long-term partner rather than a venture capital investor who would look for exits in subsequent rounds.
US Economic Development Administration
Number of investments in Q3 2024: 23
The US Economic Development Administration (EDA) is a bureau under the US Department of Commerce that supports startups through various programs like Build to Scale (B2S), and Regional Technology and Innovation Hubs (Tech Hubs).
Through the Tech Hubs program, EDA has supported startups through funding and resources, workforce development, and building a network of public, private, and academic partners who can empower businesses. In 2024, financial investments worth $504 million were announced for 12 Tech Hubs.
Through the B2S program, EDA funds investment funds that support early-stage startups and training programs focusing on traditional as well as hybrid equity-based financing. This program also supports startups by accelerating regional economies focusing on industries of the future. It also creates a conducive environment for startups by incentivizing communities to let startups pilot and test their products and services.
Accel
Number of investments in Q3 2024: 22
Accel is a venture capital firm that has invested in startups from Europe, Asia, and the USA since 1983. Some of the companies that were backed by Accel in the past include UiPath, Freshworks, Slack, Spotify, Bumble, Scale, Fiverr, CrowdStrike, and Atlassian.
Accel strives to be the first investor in its portfolio companies so that it can take an active and collaborative role. Typically, it will try to come in at the seed stage or the Series A stage. It has a focus on cohesive and collaborative team dynamics over individualism.
This preference for high-performing teams over illustrious individuals stems from the fact that most of its US partners have grown internally, something that could not have been possible if individuals were prioritized over the group.
It finds investment opportunities through rigorous primary research on ideas that birth transformational companies.
100 Most Active VC Firms in Q3 2024
Here are the top active venture capital firms in Q3 2024:
| Name of VC Firm | Number of Investments Q3 2024 | Total Number of Investments |
|---|---|---|
| Techstars | 62 | 6,122 |
| FJ Labs | 48 | 1,483 |
| Andreessen Horowitz | 40 | 1,598 |
| General Catalyst | 36 | 1,343 |
| Innovate UK | 29 | 1,047 |
| Antler | 28 | 1,474 |
| Alumni Ventures | 27 | 1,785 |
| Sequoia Capital | 24 | 1,995 |
| US Department of Commerce, Economic Development Administation | 23 | 480 |
| Accel | 22 | 2,102 |
| Khosla Ventures | 22 | 1,234 |
| Mitsubishi UFJ Capital | 22 | 555 |
| Lightspeed Venture Partners | 21 | 1,420 |
| European Innovation Council | 21 | 1,119 |
| International Finance Corporation | 20 | 533 |
| Global Brain Corporation | 19 | 662 |
| Bessemer Venture Partners | 17 | 1,417 |
| HTGF | High-Tech Gruenderfonds | 17 | 910 |
| SMBC Venture Capital | 17 | 554 |
| Qiming Venture Partners | 16 | 970 |
| Google Ventures | 16 | 1,140 |
| Shenzhen Capital Group | 16 | 627 |
| Index Ventures | 15 | 1,168 |
| Plug and Play | 15 | 1,917 |
| New Enterprise Associates | 15 | 2,206 |
| Founders Fund | 13 | 917 |
| Peak XV Partners | 13 | 707 |
| Gaingels | 12 | 837 |
| 8VC | 12 | 509 |
| East Ventures | 11 | 629 |
| Felicis | 11 | 647 |
| Soma Capital | 11 | 521 |
| 500 Global | 11 | 3,147 |
| Liquid 2 Ventures | 10 | 913 |
| Mayfield Fund | 10 | 684 |
| Shunwei Capital | 10 | 523 |
| SV Angel | 10 | 1,444 |
| Goodwater Capital | 10 | 767 |
| Foundation Capital | 10 | 750 |
| Lux Capital | 10 | 507 |
| Goldman Sachs | 9 | 1,060 |
| Menlo Ventures | 9 | 795 |
| BoxGroup | 9 | 679 |
| FasterCapital | 9 | 721 |
| Kleiner Perkins | 9 | 1,421 |
| First Round Capital | 8 | 919 |
| DCVC | 8 | 508 |
| SOSV | 7 | 2,769 |
| Redpoint | 7 | 770 |
| BDC Venture Capital | 7 | 707 |
| CRV | 7 | 684 |
| Legend Capital | 7 | 480 |
| Speedinvest | 7 | 482 |
| HongShan | 7 | 1,096 |
| Greylock | 6 | 879 |
| Canaan Partners | 6 | 797 |
| Matrix Partners China | 6 | 738 |
| Seedcamp | 6 | 595 |
| Partech | 6 | 575 |
| Norwest Venture Partners | 5 | 937 |
| Greycroft | 5 | 813 |
| DCM Ventures | 5 | 640 |
| Crosslink Capital | 5 | 475 |
| Tiger Global Management | 4 | 1,181 |
| Venrock | 4 | 816 |
| Benchmark | 4 | 693 |
| Lerer Hippeau | 4 | 649 |
| RRE Ventures | 4 | 601 |
| Slow Ventures | 4 | 571 |
| Spark Capital | 4 | 571 |
| Wavemaker Partners | 4 | 554 |
| ARCH Venture Partners | 4 | 490 |
| Bain Capital Ventures | 4 | 663 |
| Pareto Holdings | 4 | 489 |
| IDG Capital | 3 | 1,492 |
| Battery Ventures | 3 | 857 |
| Polaris Partners | 3 | 734 |
| Atlas Venture | 3 | 607 |
| Startup Wise Guys | 3 | 584 |
| Northstar Ventures | 3 | 534 |
| Initialized Capital | 3 | 528 |
| Headline | 3 | 490 |
| Great Oaks Venture Capital | 3 | 475 |
| Vertex Ventures | 3 | 486 |
| Madrona | 2 | 516 |
| Right Side Capital Management | 2 | 1,376 |
| Global Founders Capital | 2 | 989 |
| Artesian VC | 2 | 593 |
| U.S. Venture Partners | 2 | 579 |
| LAUNCH | 2 | 553 |
| Eight Roads Ventures | 2 | 532 |
| Founder Collective | 2 | 503 |
| Pioneer Fund | 2 | 498 |
| True Ventures | 2 | 718 |
| GGV Capital | 2 | 486 |
| Bossanova Investimentos | 1 | 1,685 |
| Advantage Capital | 1 | 1,132 |
| ZhenFund | 1 | 790 |
| IndieBio | 1 | 508 |
| Trinity Ventures | 1 | 471 |
Eqvista: Valuations that open doors to funding success!
In Q3 2024, venture capital funding was led by firms like Techstars, FJ Labs, Andreessen Horowitz, General Catalyst, and Innovate UK. Every venture capital firm featured in our list displays a commitment to supporting entrepreneurs in transforming industries. Many of these firms believe in entering at an early stage and taking a collaborative, active role in supporting their portfolio companies.
These venture capital firms display a diverse range of investment approaches such as Antler’s day zero approach and Techstars’ global vision.
In addition to creating value for their investors, these venture capital firms are also committed to promoting social good through the startups they invest in. Given the fact that these venture capital firms are trying to balance two equally important goals, they take a rigorous approach to deal sourcing.
If you are a startup founder looking for funding in the current scenario, Eqvista can support you through our VC valuations that accurately represent the true value of any startup, no matter how big or small. Contact us to know more!
