New venture funds filed with the SEC in Q3 2026
By ZInvestorHunting · Updated with the latest data build · Methodology
A new venture fund files SEC Form D within 15 calendar days of its first commitment from an investor, so the SEC’s Form D data is one of the earliest public records of which firms have fresh capital. This guide counts the new funds in the latest quarter of that data, Q3 2026, and breaks them down by size, home state and the sectors their sponsors back. Every figure is computed from our database and changes when the data is rebuilt.
In Q3 2026, 549 new venture funds from 409 firms filed their first Form D, up 7% from 515 in Q2 2026 and up 58% from 347 in Q3 2025. Another 1,129 deal vehicles (SPVs) filed for the first time. The 372 funds that stated an offering amount were targeting $33.3B between them, with a median target of $25M.
- New funds, Q3 2026
- 549
- New SPVs
- 1,129
- Combined fund target
- $33.3B
- Median fund target
- $25M
Quarter by quarter
The last five quarters in our data, counted the same way. A fund counts once, in the quarter of its first original notice; later amendments don’t add to the count.
| Quarter | New funds | Firms | SPVs | Combined target | Median target |
|---|---|---|---|---|---|
| Q3 2026 | 549 | 409 | 1,129 | $33.3B | $25M |
| Q2 2026 | 515 | 400 | 1,113 | $38.5B | $25M |
| Q1 2026 | 462 | 369 | 1,042 | $28.1B | $25M |
| Q4 2025 | 366 | 318 | 1,027 | $26.3B | $26.4M |
| Q3 2025 | 347 | 297 | 926 | $23.1B | $25.5M |
Two things to keep in mind when comparing quarters. The newest quarter is the least complete, because notices filed late for it keep arriving in later SEC releases. And the counts cover only funds we could attribute to a sponsoring firm in the directory: a vehicle filed by a platform with no identifiable sponsor is left out. Combined targets swing more than counts, since a few multi-billion-dollar funds can move the total on their own.
How big the new funds are
Fund size is the total offering amount on the fund’s latest Form D: the target, which can include commitments not yet called, not money already raised. Of the 372 new funds with a stated target in Q3 2026, 242 (65.1%) target under $50M, and 33 (8.9%) target $250M or more. The largest is ARCH Venture Fund XIV, L.P., sponsored by ARCH Venture, at $3B.
| Target size | New funds | Share |
|---|---|---|
| Under $10M | 89 | 23.9% |
| $10M to under $25M | 99 | 26.6% |
| $25M to under $50M | 54 | 14.5% |
| $50M to under $100M | 50 | 13.4% |
| $100M to under $250M | 47 | 12.6% |
| $250M to under $1B | 30 | 8.1% |
| $1B or more | 3 | 0.8% |
Size matters to a founder because it bounds the check: the same share of a $25M fund and of a $500M fund are very different amounts. Our profiles estimate a fund’s check at about 1 to 3% of its size when the firm’s website doesn’t say (see the methodology).
Where the sponsors are based
By the sponsoring firm’s home state, California (210), New York (106) and Florida (39) account for 64.7% of new funds. Vehicles are counted under the sponsor’s own home state, not the address on the filing: many deal vehicles are filed from a platform’s or registered agent’s office, so a sponsor with no known home state is left out of this table.
| State | New funds | SPVs | Combined target |
|---|---|---|---|
| California | 210 | 174 | $15.1B |
| New York | 106 | 109 | $5.1B |
| Florida | 39 | 51 | $697M |
| Texas | 34 | 37 | $1.63B |
| Massachusetts | 24 | 22 | $1.27B |
| New Jersey | 11 | 1 | $718M |
| Maryland | 10 | 6 | $5M |
| Illinois | 9 | 11 | $3.43B |
| Virginia | 9 | 14 | $536M |
| Washington | 9 | 19 | $398M |
Which sectors the sponsors back
Form D has no field for a fund’s strategy, so this table uses the sectors on the sponsoring firm’s profile, which come from the startups it has backed, its fund names and its website. A fund counts once in each sector its sponsor backs, so the rows add up to more than the total. Each sector links to the active investors we list in it.
| Sector | New funds | SPVs |
|---|---|---|
| AI & ML | 127 | 267 |
| B2B Software | 86 | 58 |
| Healthcare | 55 | 102 |
| Cybersecurity | 38 | 28 |
| Climate & Energy | 36 | 151 |
| Biotech & Pharma | 36 | 98 |
| Deep Tech | 29 | 55 |
| Fintech | 29 | 44 |
| Media, Gaming & Creator | 26 | 18 |
| Crypto & Web3 | 23 | 25 |
| Real Estate & PropTech | 21 | 38 |
| Hardware & Robotics | 13 | 50 |
The ten largest new funds
Each links to the firm’s profile and to the Form D it was counted from.
| Firm | Fund | Target | First filed | Filing |
|---|---|---|---|---|
| ARCH Venture | ARCH Venture Fund XIV, L.P. | $3B | SEC | |
| HOF Capital | HOF Capital Strategic Opportunities Fund II, L.P. | $1.5B | SEC | |
| Accel | Accel Growth Fund 8 L.P. | $1.35B | SEC | |
| Accel | Accel 17 L.P. | $800M | SEC | |
| Accel | Accel London 9 L.P. | $800M | SEC | |
| Khosla Ventures | Khosla Ventures Moonshot, LLC | $800M | SEC | |
| Technology Impact | Technology Impact Growth Fund III, LP | $700M | SEC | |
| Elephant Partners | Elephant Partners VI, L.P. | $700M | SEC | |
| Accel | Accel India 9 L.P. | $550M | SEC | |
| Elevation Capital | Elevation Capital IX LP | $500M | SEC |
How to use this list
- Start with funds that match your round. A fund targeting $30M is a likelier lead for a $2M seed than one targeting $1B; the size table above and each firm’s profile give you the range.
- Look for the people. The Form D for each fund names its general partners and executives. Our profiles list them with the filing that named them, so you can find the partner who covers your sector.
- Read the sector label as a hint. It describes what the firm has done, not what this particular fund will do. Check the firm’s site before you write.
- Keep the date in mind. A fund that filed this quarter has just had its first close. How fast it invests is up to the firm, so ask where it is in deploying the fund.
For a month-by-month view of the same data, with every fund and SPV listed, see the new funds report (months in this quarter: July 2026, August 2026, September 2026). Months with fewer than 10 new funds are not published there.
How we count, and the limits
- Only funds marked “Venture Capital Fund” in Item 4 of Form D are counted. Private equity, hedge and other fund types are left out, as are the startups’ own filings.
- New means a first original notice (form type D, not D/A) dated in the quarter. Our data starts with Q1 2023, so a fund first filed before then is never counted as new.
- SPVs are series of a master fund, co-investment and sidecar vehicles, vehicles named for a single company, and offerings under $3M. They are counted separately from funds.
- Investors that asked to be removed, and startup directors named on filings, are excluded.
- Late filings happen. The SEC publishes the data sets quarterly and revises them, so we fetch the two newest quarters again on every rebuild. Counts for Q3 2026 can still rise a little. The newest filing in this build is dated Sep 30, 2026.
Read how to read a Form D filing for what each field on these notices means.
Sources
- Form D data sets (SEC) · the quarterly files every count here is built from
- Form D and its instructions (SEC, PDF) · the 15-day filing deadline, the fund-type field and what the offering amount includes
- Private placements: Rule 506(b) (SEC)