Key takeaways
- The short answer: the best-known seed and pre-seed investors are the programmes Y Combinator, Techstars and Antler, the pre-seed funds Afore Capital, Precursor Ventures, Hustle Fund and Pear VC, and the seed firms First Round Capital, Uncork Capital, Founder Collective, Initialized Capital, 500 Global and Seedcamp.
- How many there are: Private Equity List lists 5,200+ active seed investors. 2,100+ of them also back pre-seed, so only about 4 in 10 seed investors go that early.
- Where they are: 2,435 are in the US, 349 in the UK and about 1,000 in continental Europe. New York (505) and San Francisco (427) have the most, then London (305).
- What they ask for: Y Combinator invests $500K, $125K of it for 7%. Techstars invests $220K, $20K of it for 5%. The median software seed round on Carta sold 18% of the company.
- Fresh money: the biggest seed and early-stage funds of 2026 include Union Square Ventures ($900M), South Park Commons ($575M) and Accel's ninth India fund ($550M). Pear VC closed $333M and Seedcamp $220M.
- How to choose: match stage, cheque size and region first. Then pick the help you need: a programme with a Demo Day, a fund that leads the round, or a small first cheque.
 United States | |
|---|---|
 United Kingdom | |
 Germany | |
 India | |
 France | |
 Australia | |
 Canada | |
 United Arab Emirates |
Source: Private Equity List, 31 October 2026
| Seed, not pre-seed | 3,103 | 59.2% |
|---|---|---|
| Pre-seed and seed | 2,112 | 40.3% |
| Pre-seed only | 23 | 0.4% |
Source: Private Equity List, 31 October 2026
What seed and pre-seed investors do: the first cheques into a startup
Pre-seed: the first outside money, often before revenue or a finished product. Afore Capital backs product-centric founders at pre-seed only and usually leads rounds of about $1M.
Seed: the first institutional round, once there is a product and early traction. Uncork Capital writes seed cheques of $750K–$2M.
Programmes: a fixed deal, a few months of support and a Demo Day in front of investors. Y Combinator and Techstars work this way, and Antler backs founders from day one.
Angels: people who invest their own money, often alongside a pre-seed fund, and help with first customers and hires.
How the money comes in: mostly on SAFEs and convertible notes, not priced rounds. US startups on Carta raised $10.4B across 50,316 SAFEs and notes in 2025 (Carta).
What seed and pre-seed investors ask for: cheques, SAFEs and dilution
Y Combinator: invests $500,000. $125,000 goes in on a post-money SAFE for 7% of the company, and $375,000 on an uncapped SAFE with a most-favoured-nation clause (Y Combinator).
Techstars: invests $220,000: $20,000 for 5% of the company and a $200,000 uncapped SAFE with a most-favoured-nation clause. Programmes in Asia-Pacific invest $120,000 in total (Techstars).
Pre-seed SAFEs: in 2025 the median valuation cap on post-money SAFEs was about $10M for rounds of $250K–$1M and $15M for rounds of $1M–$2.5M (Carta). Raising $500K on a $10M cap sells 5% of the company.
Seed rounds: the median software seed round on Carta raised $4.1M at a $24.3M valuation and sold 18% of the company, in the six months to July 2026 (Carta).
Fund cheques: on their Private Equity List profiles, Antler writes $100K–$600K, Seedcamp $140K–$700K, Precursor Ventures $250K–$500K, Uncork Capital $750K–$2M, Pear VC $250K–$3M and First Round Capital $750K–$4M.
Biggest seed and early-stage funds of 2026: USV, South Park Commons and Accel
 Union Square Ventures | |
|---|---|
 South Park Commons | |
 Accel India | |
 Earlybird | |
 AlleyCorp | |
 Pear VC | |
 Reach Capital | |
 Ambition Capital (target) | |
 Seedcamp | |
 Gradient Ventures |
Source: Private Equity List new-funds tracker, verified announcements
- Union Square Ventures raised $900M in October and is doubling down on AI-era companies.
- South Park Commons closed Fund IV at $575M, its largest fund yet.
- Accel India raised $550M for its ninth early-stage fund for India.
- Earlybird in Berlin closed a €360M ($396M) fund for Europe's early-stage founders.
- AlleyCorp, Kevin Ryan's New York firm, closed $335M for Fund II.
- Pear VC closed Fund V at $333M in October.
- Reach Capital raised $265M for Fund V, with AI for frontline workers as its theme.
- Ambition Capital, set up by Sequoia alumni, launched with a $250M target for early-stage tech in India.
- Seedcamp raised $320M across two funds, Fund VII ($220M) and Seedcamp Select ($100M), and is expanding in the US.
- Gradient Ventures closed its fifth fund at $220M.
Also in 2026: Index Ventures raised $2B across seed, venture and growth funds, and Antler raised $160M for its US Fund II.
13 top seed and pre-seed investors to know
| Investor | Headquarters | Stages | Cheque size | Latest fund |
|---|---|---|---|---|
 Y Combinator | Mountain View | Programme, pre-seed to seed | $500K standard deal | None recorded |
 Techstars | New York | Programme, pre-seed to Series A | $220K standard deal | Advancing Cities Fund, $80M (2024) |
 Antler | Singapore | Pre-seed to Series A | $100K–$600K | US Fund II, $160M (2026) |
 Afore Capital | San Francisco | Pre-seed only | Leads rounds of about $1M | Fund III, $150M (2022) |
 Precursor Ventures | San Francisco | Pre-seed and seed | $250K–$500K | None recorded |
 Hustle Fund | San Carlos | Pre-seed and seed | Not listed | Hustle Fund III |
| Pear VC | San Francisco | Pre-seed to Series A | $250K–$3M | Fund V, $333M (2026) |
 First Round Capital | San Francisco | Seed and Series A | $750K–$4M | None recorded |
 Uncork Capital | San Francisco | Seed | $750K–$2M | None recorded |
 Founder Collective | Cambridge, MA | Pre-seed and seed | $1–5M | None recorded |
 Initialized Capital | San Francisco | Seed, with follow-ons | $1–5M | Fund VI, $530M (2021) |
 500 Global | San Francisco | Pre-seed to late stage | $100K–$5M | 500 MENA (2025) |
| Seedcamp | London | Seed, with follow-ons | $140K–$700K | Fund VII, $220M (2026) |
Y Combinator: the best-known accelerator
What it does: invests in batches of startups; each batch works with the partners for three months and ends with Demo Day, in front of a selected audience of investors. Founded in 2005 in Mountain View.
Best fit: early founders who want capital, a programme and a large investor network at once, in software, AI, fintech, developer tools, healthcare or hardware.
What it costs: $500K, $125K of it for 7% of the company (Y Combinator).
Techstars: a global accelerator network
What it does: runs accelerator programmes with mentors, investor access and a Demo Day. Founded in 2006, now based in New York, with programmes across North America, Europe, the Middle East, Africa and Asia.
Best fit: founders who want structure and mentors before the next round, in AI, fintech, healthtech, climate, SaaS and consumer tech.
What it costs: $220K, $20K of it for 5% of the company (Techstars).
Antler: backing founders from day one
What it does: invests in founders from inception, often before revenue, with cheques of $100K–$600K. Founded in 2017 by Magnus Grimeland in Singapore, it works from about 30 locations.
Best fit: first-time founders who want capital, a co-founder network and company-building support. It also follows on at seed and Series A.
Fresh money: a $160M US Fund II in January 2026, and a UK Fund II backed by the British Business Bank.
Afore Capital: pre-seed only
What it does: backs product-centric founders at the pre-seed stage and nothing later. Its sweet spot is a round of about $1M that it leads, alongside angels.
Best fit: product-led founders who need a first institutional investor before traction is obvious, in software, AI, fintech or developer tools.
Team: founded in 2016 in San Francisco. Its partners built products at Android and Twitter and invested at Founder Collective and Foundation Capital.
Precursor Ventures: first cheques of $250K–$500K
What it does: invests at pre-seed and seed, before many traditional investors are ready. Founded in 2015 in San Francisco.
Best fit: founders in the US, Canada and Mexico who need early belief before large traction numbers, in software, hardware, consumer, fintech or healthcare.
Hustle Fund: small first cheques, fast decisions
What it does: invests at pre-seed and seed and reviews more than 1,000 applications a month. Founded in 2017 by Elizabeth Yin and Eric Bahn, it is based in San Carlos and also runs Angel Squad, a group for new angel investors.
Best fit: founders in the US, Canada and Southeast Asia who are shipping fast and learning from customers, in software, fintech, consumer or B2B.
Pear VC: pre-seed and seed in Silicon Valley
What it does: partners with founders at the earliest stage, with cheques of $250K–$3M. Founded in 2013 in San Francisco by Mar Hershenson and Pejman Nozad.
Best fit: founders in AI, fintech, SaaS and deep tech who want hands-on help with hiring, product and sales.
Fresh money: closed Fund V at $333M in October 2026.
First Round Capital: an active seed lead with $750K–$4M cheques
What it does: invests at seed and Series A, with cheques of $750K–$4M, and works closely with founders on hiring, go-to-market and early customers. Founded in 2004 in San Francisco.
Best fit: founders who want a lead investor that stays involved, in enterprise tech, fintech, healthcare, consumer and AI.
Uncork Capital: seed cheques of $750K–$2M
What it does: a seed-stage firm founded in 2004 by Jeff Clavier, with more than $500M under management.
Best fit: founders with a clear market who need a focused seed partner to reach product-market fit, in SaaS, AI, infrastructure, fintech, e-commerce or healthcare.
Founder Collective: founders backing founders
What it does: a seed fund built by founders, based in Cambridge, Massachusetts since 2009. Its portfolio includes Uber, The Trade Desk and WHOOP.
Best fit: founders who want early capital without a narrow sector thesis, mainly in the US.
Initialized Capital: seed with follow-on capital
What it does: backs seed-stage founders and follows on in later rounds. Founded in 2012 in San Francisco; its sixth fund was $530M.
Best fit: founders in enterprise SaaS, AI, infrastructure, health, climate, hard tech or crypto.
500 Global: early-stage capital across 15 countries
What it does: invests $100K–$5M in early-stage companies, with a team of 140+ people in 15 countries. Founded in 2010 in San Francisco; it runs funds for MENA, Latin America and Southeast Asia.
Best fit: founders outside the usual Silicon Valley networks, in fintech, SaaS, e-commerce, consumer and media.
Seedcamp: Europe's seed fund
What it does: invests in seed rounds with cheques of $140K–$700K and brings a network of 1,200+ operators. Founded in 2007 in London.
Best fit: European founders building global companies in fintech, SaaS, AI, digital health and consumer tech.
Fresh money: $320M across Fund VII and Seedcamp Select in June 2026.
Seed and pre-seed investors by region: who raised a new fund in 2026
Each table shows funds announced in 2026 by firms that write seed and pre-seed cheques in that region, checked against the announcement. A firm with a new fund is writing first cheques now. Every seed investor in a country is in the seed investor list.
Seed and pre-seed investors in the United States
2,435 seed investors, 1,217 of them also back pre-seed. New York (505) and San Francisco (427) lead, then Boston (114) and Los Angeles (94).
| Investor | City | New fund in 2026 | Size |
|---|---|---|---|
| Union Square Ventures | New York | USV 2026 fund | $900M |
| South Park Commons | San Francisco | Fund IV | $575M |
| AlleyCorp | New York | Fund II | $335M |
| Pear VC | San Francisco | Fund V | $333M |
| Reach Capital | San Francisco | Fund V | $265M |
| Gradient Ventures | San Francisco | Fifth fund | $220M |
 2048 Ventures | New York | Fund III | $82M |
Seed and pre-seed investors in the UK
349 seed investors, 111 of them also back pre-seed, and 305 are in London. Index Ventures, also in London, raised $2B across seed, venture and growth funds this year.
| Investor | City | New fund in 2026 | Size |
|---|---|---|---|
| Seedcamp | London | Fund VII | $220M |
 DIG Ventures | London | Fund III | $120M |
 Osney Capital | London | Fund I, cyber security seed | $76.2M |
 SuperSeed | London | Physical AI Seed Fund III | $63.5M |
 Creator Fund | London | Fund for PhD founders | $56M |
 Passion Capital | London | Seed Fund IV | €46M |
Seed and pre-seed investors in Europe
1,019 seed investors across continental Europe. Germany has 220, France 135, Spain 86, Switzerland 80 and the Netherlands 78.
| Investor | City | New fund in 2026 | Size |
|---|---|---|---|
| Earlybird | Berlin | Fund VIII | €360M |
 Elaia | Paris | DeepTech Seed Fund III | €134M |
 Seed Capital | Copenhagen | Fund V | €130M |
 Graduate Ventures | Netherlands | Dutch Alumni Seed Fund II | €125M |
 Merantix Capital | Berlin | Early-stage AI fund | €103M |
 Credo Ventures | Prague | Stage 5 | $88M |
 Norrsken Launcher | Stockholm | Norrsken Evolve pre-seed fund | €62M |
Seed and pre-seed investors in Asia and the rest of the world
1,365 seed investors outside the US and Europe. India has 169, Australia 107, Canada 106, the United Arab Emirates 101 and Singapore 94, where Antler is based.
| Investor | City | New fund in 2026 | Size |
|---|---|---|---|
| Accel India | Bengaluru | Ninth India fund | $550M |
| Ambition Capital | Bengaluru | Early-stage fund | $250M target |
 Genesia Ventures | Tokyo | Fund IV | $113M |
 Shastra VC | Bengaluru | Fund III, near final close | $100M |
 EmTech | Casablanca | Early-stage fund | $60M |
 SaaSholic | São Paulo | Fund III | $30M |
Accelerator, pre-seed fund, seed fund or angel: what each asks for
| Accelerator | Pre-seed fund | Seed fund | Angel investor | |
|---|---|---|---|---|
| Typical cheque | $500K at Y Combinator, $220K at Techstars | Antler $100K–$600K, Precursor $250K–$500K; Afore leads rounds of about $1M | Uncork $750K–$2M, First Round $750K–$4M; the median seed round is $4.1M | Their own money, usually part of a wider round |
| When | From idea to first product, in a batch with a Demo Day | Before revenue or product-market fit | First product and early traction | Any time before Series A |
| What you give up | A fixed stake (7% at Y Combinator, 5% at Techstars) plus an uncapped SAFE | A SAFE; median cap about $10M for rounds of $250K–$1M | Median 18% of the company in a software seed round | Usually the same SAFE or round terms as the funds |
| What else you get | Programme, mentors, investor introductions | A first institutional backer, help with product and hiring | A lead investor and a board seat or close support | Introductions to customers and first hires |
| Examples | Y Combinator, Techstars, Antler | Afore Capital, Precursor Ventures, Hustle Fund, Pear VC | First Round, Uncork, Founder Collective, Initialized, Seedcamp, 500 Global | Angel groups such as Hustle Fund's Angel Squad |
Cheques for funds are from their Private Equity List profiles; programme deals from Y Combinator and Techstars; caps and dilution from Carta (pre-seed, seed).
How to find seed and pre-seed investors for your startup
Filter by stage first: the pre-seed and seed search shows investors that back both stages. Add sector, country and cheque size.
Browse the full lists: all seed investors, pre-seed investors and the wider venture capital list.
Check who just raised: a firm with a new fund is writing first cheques now. The new funds tracker lists each fund as it is announced.
Match the cheque to the round: a $500K pre-seed fits a pre-seed fund, a programme or angels. A $4M seed round needs a fund that can lead it.
Write the first email: our investor outreach email templates cover the cold email, the warm introduction and the follow-up.
Reach the right partner: profiles list partners and investment staff with their roles. CSV export comes with the Pro+ plan.
Data and methodology
Investors: active Private Equity List profiles tagged pre-seed or seed on 31 October 2026, 5,238 firms in all. Inactive profiles are left out.
The 13 firms: the names founders ask about most. Headquarters, founding year, stages and cheque sizes are as on each firm's profile.
New funds: verified announcements from Private Equity List's new-funds tracker for funds launched in 2026. We kept funds whose focus is seed or early stage and left out growth, buyout and credit funds. Sizes are as announced; other currencies are converted to US dollars by the tracker.
Deal terms and dilution: not Private Equity List data. Every figure links to its source: Y Combinator, Techstars and Carta.
Updated weekly
Investors
