# New PE and VC Funds in October 2026

> Private Equity List recorded 74 new private equity and venture capital funds. Fewer than in September, but bigger: the typical fund was $300M, and Advent International's $27B GPE XI was the largest.

Insights · 31 October 2026 · by Giorgio Fenancio · https://privateequitylist.com/intelligence/new-private-equity-venture-capital-funds-october-2026

**Key takeaways**

- **Fewer, bigger funds:** 74 new funds, down from 89 in September. The typical fund more than doubled, to $300M.
- **Where:** US managers launched 41 funds. North America holds 84% of the money.
- **AI:** 43% of the new funds focus on AI.
- **First funds:** 14 managers raised their first fund.

- **74**: new funds (from 73 managers)
- **$93.8B**: total fund size (67 funds with a size)
- **$300M**: typical fund (the median)
- **16**: countries (where the managers are based)

**New funds per month, 74 in October 2026**

| | Value |
|---|---:|
| May | 123 |
| Jun | 95 |
| Jul | 80 |
| Aug | 82 |
| Sep | 89 |
| Oct | 74 |

Source: Private Equity List database

**Fund distribution by geography**

| | Value |
|---|---:|
| North America | 43 |
| Europe | 18 |
| Asia | 10 |
| Other | 3 |

Source: Private Equity List database

**Share of new funds focused on AI**

| | Value |
|---|---:|
| May | 21.1% |
| Jun | 36.8% |
| Jul | 45.0% |
| Aug | 47.6% |
| Sep | 44.9% |
| Oct | 43.2% |

Source: Private Equity List database

## Fund sizes: fewer funds, bigger cheques

**Takeaways**

- 17 funds of $1B or more hold 86% of the money.
- 19 funds are under $100M. Together they hold less than 1%.

**Biggest fund:** Advent International's GPE XI, which raised $27B, above its $26B target.\
**Second biggest:** Disruptive's Flagship Fund in Dallas. Its $10B is a ceiling, with at least $7.5B committed so far. Together, these two make up 39% of the total.\
**Smallest funds:** all 10 funds under $50M are venture funds.

## Geography: the US leads on count and on money

**Takeaways**

- US managers launched 41 funds, more than half of the month.
- Europe launched 18 funds, down from 29 in September.
- North America holds 84% of the money, Europe 12%.

**New funds by country**

| | Value |
|---|---:|
| United States | 41 |
| India | 7 |
| United Kingdom | 6 |
| Netherlands | 3 |
| Spain | 3 |
| Australia | 2 |
| Singapore | 2 |
| France | 2 |

Source: Private Equity List database

**One fund each:** Puerto Rico, Denmark, Monaco, Malaysia, Canada, Sweden, Israel and Switzerland.\
**Fund size by country:** the typical US fund was $600M, against $210M in the UK and $90M in India.\
**Investing in Asia:** 10 funds come from Asia, but 24 plan to invest there.

## AI share: 43% of new funds

**Takeaways**

- 43% of new funds focus on AI.
- Among venture funds it is 65%. Among private equity funds, 16%.

**Not a one-off:** the AI share has been above 36% every month since June.\
**Private equity:** business services is on 32% of these funds, and financial services, healthcare and technology on 29% each.

**Top 5 sectors, venture vs private equity funds**

| | Venture funds | Private equity funds |
|---|---:|---:|
| AI | 30 | 5 |
| Technology | 8 | 9 |
| Business Services | 4 | 10 |
| Healthcare Services | 5 | 9 |
| Energy | 7 | 7 |

Source: Private Equity List database

- **Energy and climate:** 18 funds, such as Blackstone's $8.7B energy transition fund and Nithio's $150M debt fund for electric vehicle fleets in Africa.
- **Defence and aerospace:** 9 funds, such as IndusBridge's India Defence Sector Fund ($206.6M) and Anorak Ventures Fund III ($35M).
- **Deep tech:** 6 funds, all writing seed cheques.
- **Robotics:** 5 funds, all venture funds.
- **Cybersecurity:** 5 funds, such as Auriga Cyber Ventures II, with an €80M interim close.

## Top 10 biggest funds of October 2026

**Takeaways**

- The top 10 range from $2B to $27B. Eight come from US managers.
- Advent has two funds in the top 10. Disruptive and Forbion are the only pure venture funds.

- **[Advent International](https://privateequitylist.com/investors/advent-international-corporation)** raised $27B for GPE XI, its 11th flagship buyout fund, above its $26B target. Business and financial services, consumer, healthcare, industrial and technology are its five core sectors.
- **[Disruptive](https://privateequitylist.com/investors/disruptive)** launched its Flagship Fund at up to $10B, with at least $7.5B committed so far. The Dallas firm plans ten late-stage bets in AI, defence and software.
- **[Blackstone](https://privateequitylist.com/investors/blackstone)** closed Energy Transition Partners V at its $8.7B hard cap. The money goes to energy, infrastructure and technology companies.
- **[LS Power](https://privateequitylist.com/investors/ls-power)** raised $6B for the oversubscribed LS Power Equity Partners VI. The New York firm has invested in the US power system since 1990.
- **[Pantheon](https://privateequitylist.com/investors/pantheon-1)** raised $6B for Global Secondaries Fund VIII, which buys existing stakes in private equity funds. The London firm, founded in 1982, has more than 140 investment professionals in 12 offices.
- **[Ares Private Equity Group](https://privateequitylist.com/investors/ares-private-equity-group)** raised $4.2B for its first Global Structured Solutions Fund. Business and financial services are the main sectors.
- **[Advent International](https://privateequitylist.com/investors/advent-international-corporation)** also raised $3B for a new Mid-Market Fund, part of the $30B it raised across two new funds. The Boston firm has invested since 1984.
- **[Forbion](https://privateequitylist.com/investors/forbion)** raised €2.3B ($2.6B) across two new biotech funds, Growth Opportunities Fund IV and Ventures Fund VIII. One fund builds early-stage companies, the other backs later-stage growth.
- **[Spectrum Equity](https://privateequitylist.com/investors/spectrum-equity)** closed the oversubscribed Fund XI at $2.5B. Cheques go to software, AI and data companies, from the firm's base in Boston.
- **[Oaktree Capital Management](https://privateequitylist.com/investors/oaktree-capital-management)** closed its Asset-Backed Finance Fund at $2B. The Los Angeles firm was founded in 1995 by Howard Marks and Bruce Karsh.

## First funds: meet the newcomers

**Takeaways**

- 14 managers raised a first fund. The typical size was $230M.
- 41 of the 73 managers were new to Private Equity List.

**Big firms too:** Ares ($4.2B structured solutions fund) and TPG ($1.3B debut Asia mid-cap fund) also launched first funds.

- **[Aphias Capital](https://privateequitylist.com/investors/aphias-capital)** closed an oversubscribed $1.05B Fund I for lower mid-market healthcare and business services companies. Partners Amanda Kalin and Robert Wolfson came from H.I.G. Capital.
- **[Formation Bio](https://privateequitylist.com/investors/formation-bio)** raised a $600M debut fund, the Drug Development Accelerator Fund. The New York company develops and acquires drugs on its own AI platform.
- **[One Planet Partners](https://privateequitylist.com/investors/one-planet-partners)** launched a $360M maiden private equity fund backed by Japan's SMTB. Energy, mobility and manufacturing are the focus for the Mumbai firm, set up in 2024.
- **[49 Palms Ventures](https://privateequitylist.com/investors/49-palms-ventures)** launched a $100M Fund I for AI companies, from seed to Series B. Its founders have worked with more than 500 companies on monetisation.
- **[Eastend Ventures](https://privateequitylist.com/investors/eastend-ventures)** closed a $22.2M debut fund for founders in South Australia, Western Australia and Queensland. Cheques run from pre-seed to Series B.
- **[Masia](https://privateequitylist.com/investors/masia)** closed an €18M ($19.8M) debut fund for pre-seed and seed startups in AI and frontier tech. The Barcelona team also runs Masia House, a hub for founders.

**Young managers:** of October's managers with a known founding year, 24% started in 2020 or later.

## Data and methodology

**Funds:** private equity and venture capital funds in Private Equity List with a launch date in October 2026, plus verified announcements from its new-funds tracker. Data as of 31 October 2026; funds announced later that day are not included.\
**Size:** as announced, in US dollars. Where only a target or a first close was announced, the text says so. Top-ups of older funds and duplicates are left out.\
**Comparison:** September is counted with the same rules, which gives 89 funds; the September report showed 87, before late announcements were verified.\
**Country and sectors:** from each manager's profile and the fund record.

## FAQ

### How many new private equity and venture capital funds launched in October 2026?

Private Equity List recorded 74 new funds from 73 managers with an October 2026 launch date, as of 31 October 2026. 62% carry a venture capital tag and 42% a private equity tag; some carry both.

### What was the largest fund launched in October 2026?

Advent International's GPE XI, which raised $27B, above its $26B target. Next came Disruptive's Flagship Fund, sized at up to $10B with at least $7.5B committed, and Blackstone Energy Transition Partners V, closed at its $8.7B hard cap.

### How big was a typical new fund in October 2026?

The median recorded size across the 67 funds with a size was $300M, up from $133M in September. The median venture fund was $110M and the median private equity fund $875M. 19 funds were below $100M, while 17 were $1B or larger and held 86% of recorded capital.

### Which countries launched the most new funds in October 2026?

Managers based in the United States launched 41 of the 74 funds, followed by India with 7, the United Kingdom with 6, and the Netherlands and Spain with 3 each. Managers in 16 countries launched at least one fund.

### How many October 2026 funds focus on AI?

32 of the 74 funds (43%) carry an AI tag, including 30 of the 46 venture funds. The share has been above 36% every month since June 2026.

### How many of the new funds were first funds?

14 of the 74 (19%) were first funds, named Fund I or described as a debut, inaugural or maiden fund. Their median size was $230M. Examples include TPG Emerging Companies Asia at $1.3B and Aphias Capital Fund I at $1.05B.