The Largest Venture Capital Firms in the US

By assets under management, American venture capital has a clear leader. Andreessen Horowitz reports more than $100 billion as of April 30, 2026, per the firm's own disclosure, a total spanning funds in AI, bio, crypto, consumer, enterprise, and its American Dynamism defense practice. Insight Partners follows with more than $90 billion in regulatory AUM, most of it software growth equity rather than early-stage venture. Tiger Global Management, the crossover investor, holds roughly $58.5 billion; Sequoia Capital, counted without its spun-out Asian affiliates, manages about $56 billion; and General Catalyst reports $43 billion-plus. Together the five largest manage more than the remaining thirteen firms on the list combined. The table is ordered by the latest reported total AUM, regulatory AUM, or committed capital.

The story of the past two years is concentration. Andreessen Horowitz raised a record $15 billion-plus across new funds in January 2026, the largest raise in venture history and by itself equal to roughly 18% of every dollar committed to US venture funds in 2025, per TechCrunch. Thrive Capital closed its largest-ever fund, the $10 billion Thrive X, in February 2026; Lightspeed collected about $9 billion in late 2025; Kleiner Perkins added $3.5 billion in March 2026 for what it calls the AI super-cycle. Nine firms have recently taken about half of all US venture fundraising, and the twelve largest captured more than half of the capital raised in the first half of 2025. Two caveats apply: AUM definitions mix committed capital, net asset value, and SEC regulatory assets, and crossover firms such as Tiger Global and Insight count substantial non-venture assets in their totals.

Deployment matched the fundraising boom. US venture firms invested about $320 billion across roughly 15,352 deals in 2025, up 51% year over year, with nearly two-thirds of the dollars going to AI-related companies, per the NVCA's 2026 Yearbook. The capacity to keep going remains: dry powder stood near $300 billion at mid-2025, and the remaining value held in US venture funds reached a high of roughly $1.02 trillion. Globally, venture AUM approached $3.5 trillion in 2025, seven times its 2008 level, with North America accounting for about $1.2 trillion of it. That is the backdrop for this list: a market growing fastest at the very top, while mid-sized franchises fight for allocations. Every firm below links to its Altss profile, where funds, people, and activity are tracked.