15 Top Multistage VC Firms You Should Know About

For founders, understanding the venture capital world is critical. When you're looking at multi-stage investors, you're evaluating potential long-term partners who can support your company from early rounds like Series A or B through to later growth-stage financing.

To help with your fundraise, our team has curated this overview of top multi-stage VC firms. Use this guide to identify the key players relevant to your funding round before you begin outreach.

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Key Takeaways

• Multi-stage venture funding provides startups with a potential long-term financial partner who can support them through multiple growth phases, from early to late-stage rounds.

• Top multi-stage investors like Norwest Venture Partners, General Catalyst, Andreessen Horowitz, and Tribe Capital are notable backers of startups across various growth stages.

• If you are raising or have just closed a round, Rho’s platform offers FDIC-insured accounts, corporate cards with up to 2% cashback, automated bill pay, spend controls, and real-time accounting integrations to help manage your new capital.

What is Multi Stage Venture Capital?

Multi-stage venture capital firms invest in companies at various points of their growth, from early seed rounds to later-stage financing.

This approach provides you with a consistent financial partner who can offer capital and support as your company develops, unlike investors who focus only on a single funding stage.

Types of Multi Stage VC Firms At A Glance

As a founder raising capital, it's helpful to know which multi-stage VC firms specialize by geography or sector; here's a quick breakdown of those trends across top investors.

Multi Stage VCs in California

The Bay Area is a major hub for multi-stage venture capital, with many top firms located in San Francisco and Silicon Valley. Prominent examples include Andreessen Horowitz and Sequoia Capital in Menlo Park, and General Catalyst in San Francisco.

Multi Stage VCs in New York

On the East Coast, you'll find notable investors like Union Square Ventures and the healthcare-focused Deerfield Management, both key players in New York's VC scene.

Healthcare & Biotech Multi Stage VCs

For startups in the life sciences, some firms offer specialized expertise. Deerfield Management focuses exclusively on healthcare, while Mayfield is another key investor in human health and late-stage biotech venture capital.

B2B & SaaS Multi Stage VCs

If you're building a B2B or SaaS company, certain firms have a dedicated focus. Craft Ventures specializes in SaaS investments, and Madrona has a strong track record with cloud and enterprise software companies. You can find more VCs in SaaS in our other guides.

However, many multi-stage venture capital firms are generalists, investing across various industries, locations, and every venture capital stage from seed to growth equity.

Below is an overview of top multi-stage VC firms, with key details on their locations, industry focus, and what makes each a notable option for founders.

1. Norwest Venture Partners

Norwest Venture Partners is a long-standing investment firm with a focus on both venture capital and growth equity. They support companies from their early stages all the way through to late-stage growth.

With a history dating back to 1961, the firm has a broad portfolio that includes the digital-health company Omada Health and the cybersecurity firm FireEye. Their investment range from early venture to private equity signals a capacity for long-term partnership.

This firm could be a good match if you are looking for a stable, multi-stage partner who can provide capital across your company's lifecycle. Their generalist approach is suitable for founders in sectors from fintech to digital health.

• Investment stages: Early-stage venture, late-stage venture, and growth equity

• Industries of focus: Consumer, enterprise, and healthcare technology

• Geographical presence: Palo Alto, California

• Founded: 1961

• Notable portfolio companies: LendingClub, FireEye, Omada Health, 6 River Systems

• Portfolio size: Over 970 investments

You can refer to their website here.

2. General Catalyst

General Catalyst is a multi-stage firm that partners with founders from the earliest seed rounds through to growth stages. They focus on building resilient companies and have a particular interest in applied AI.

The firm is known for backing category-defining companies like Airbnb, Stripe, and HubSpot, showing a strong track record in consumer tech, fintech, and SaaS. Their wide investment range, from convertible notes to private equity, signals their ability to support companies across their entire lifecycle.

This firm is a strong potential partner if you are a founder building a company with a significant AI component or one with the potential for massive scale. Their long-term, multi-stage approach is ideal for those seeking a consistent partner through various funding rounds.

• Investment stages: Seed, early-stage venture, late-stage venture, and growth

• Industries of focus: Applied AI, finance, and financial services

• Geographical presence: San Francisco, California

• Founded: 2000

• Notable portfolio companies: Airbnb, Stripe, HubSpot, Kayak, Samsara

• Portfolio size: Over 1,400 investments

You can refer to their website here.

3. Andreessen Horowitz

Andreessen Horowitz, often called a16z, is a stage-agnostic venture capital firm that invests across multiple funds. They are known for supporting companies from the earliest seed ideas through to later growth stages.

The firm has a strong record of backing transformative technology companies, with notable exits like Oculus VR and GitHub. Their portfolio highlights a focus on software, fintech, and crypto, having made early investments in companies like Stripe and Coinbase.

A16z is a strong potential partner for founders building companies with category-defining potential, particularly in deep tech or web3. Their ability to invest at any stage makes them a good fit if you are seeking a long-term capital partner.

• Investment stages: Seed, early-stage venture, late-stage venture

• Industries of focus: Software, financial services, crypto, consumer technology

• Geographical presence: Menlo Park, California

• Founded: 2009

• Notable portfolio companies: Airbnb, Coinbase, GitHub, Stripe, Oculus VR

• Portfolio size: Over 1,690 investments

You can refer to their website here.

4. Tribe Capital

Tribe Capital is a venture firm that uses data science to inform its investment decisions in both venture and crypto markets. Their approach is built on quantitative analysis to identify promising early-stage and growth-stage companies.

The firm's data-driven methodology is a key part of their strategy, helping them find opportunities in complex markets. Their portfolio includes well-known companies like the crypto exchange Kraken and the sales platform Apollo.io.

This firm could be a strong partner if you are a founder who values a quantitative, product-focused investment approach. They are particularly relevant for companies in fintech, crypto, and data-intensive software sectors.

• Investment stages: Seed, early-stage venture, and late-stage venture

• Industries of focus: Finance, financial services, and crypto

• Geographical presence: San Francisco, California

• Founded: 2018

• Notable portfolio companies: Kraken, Carta, Airtable, Shiprocket, Apollo.io

• Portfolio size: Over 240 investments

You can refer to their website here.

5. Accel

Accel is a venture capital firm that invests from seed to growth stages, supporting a global community of entrepreneurs. They have a long history of backing companies from their earliest days through to significant scale.

The firm is recognized for its early and successful investments in major technology companies, including a landmark investment in Facebook that became one of the highest-return VC deals ever. Their portfolio also includes major successes like Slack and Dropbox, showing a strong focus on consumer technology and SaaS.

Accel is a strong potential partner for founders building companies with high-growth potential in consumer tech or enterprise software. Their ability to invest across multiple stages, from seed to private equity, makes them a good fit if you are seeking a long-term capital partner.

• Investment stages: Seed, early-stage venture, late-stage venture, and private equity

• Industries of focus: Consumer technology, SaaS, e-commerce, and financial services

• Geographical presence: Palo Alto, California

• Founded: 1983

• Notable portfolio companies: Facebook, Flipkart, Dropbox, Slack, Bumble

• Portfolio size: Over 2,195 investments

You can refer to their website here.

6. Pear VC

Pear VC is a venture firm that concentrates on pre-seed and seed-stage technology companies. They partner with founders from the very beginning to help build their businesses from the ground up.

The firm is known for its early-stage backing of companies that achieve major scale, such as DoorDash and Guardant Health. This track record of taking companies from seed to IPO highlights their focus on identifying and supporting high-potential ideas early on.

Pear VC is a good match if you are a founder at the earliest stages of your company. Their experience is most relevant for those seeking a hands-on partner to help shape a business from its initial concept.

• Investment stages: Seed, early-stage venture, and late-stage venture

• Industries of focus: Angel investment, education, financial services

• Geographical presence: Menlo Park, California

• Founded: 2013

• Notable portfolio companies: DoorDash, Guardant Health, Credible Labs

• Portfolio size: Over 400 investments

You can refer to their website here.

7. Wellington Management

Wellington Management is a private investment firm with a long history in asset management. They invest across multiple stages, from early venture rounds to private equity, serving institutional clients.

The firm has a strong track record of backing major technology companies through to their initial public offerings. Their portfolio includes high-profile names like Airbnb, Affirm, and Coinbase, signaling a focus on late-stage, pre-IPO opportunities.

Wellington is a good potential partner if your company has achieved significant scale and is preparing for a late-stage round or public listing. Their experience is particularly relevant for founders in fintech, e-commerce, and consumer technology.

• Investment stages: Debt, early-stage venture, late-stage venture, and private equity

• Industries of focus: Asset management, finance, financial services, and insurance

• Geographical presence: Boston, Massachusetts

• Founded: 1933

• Notable portfolio companies: Airbnb, Affirm, Coinbase, Coupang, ACV Auctions

• Portfolio size: Over 290 investments

You can refer to their website here.

8. Madrona

Madrona is a venture firm that invests in companies from early to late stages, with a strong focus on the Pacific Northwest and beyond. Based in Seattle, they have been backing technology startups since 1995.

The firm has a history of supporting enterprise and cloud software companies, demonstrated by investments in Apptio, which was acquired by IBM, and the work-management platform Smartsheet. They also invest in consumer services, with portfolio companies like Redfin and Rover.com.

Madrona is a great potential partner if you are a founder in the Pacific Northwest, particularly in the enterprise software or cloud sectors. Their track record of guiding companies from early stages to major exits like IPOs and acquisitions suggests they are a long-term partner.

• Investment stages: Seed, early-stage venture, late-stage venture, and post-IPO

• Industries of focus: Cloud data services, enterprise software, and consumer services

• Geographical presence: Seattle, Washington

• Founded: 1995

• Notable portfolio companies: Apptio, Smartsheet, Redfin, Rover.com, Impinj

• Portfolio size: Over 530 investments

You can refer to their website here.

9. Sequoia Capital

Sequoia Capital is a venture capital firm with a long history of backing companies from their earliest stages through to public markets. They invest across a wide range of sectors, including technology, healthcare, and finance.

The firm is known for its early support of foundational technology companies like Apple, Google, and Nvidia. Their portfolio shows a clear pattern of identifying and funding businesses that go on to define their industries.

Sequoia is a good fit if you are a founder with a highly ambitious vision to build a market-leading company. Their ability to invest from seed to post-IPO makes them a valuable long-term partner for generational businesses.

• Investment stages: Seed, early-stage venture, late-stage venture, and post-IPO

• Industries of focus: Energy, financial, enterprise, healthcare, internet, and mobile

• Geographical presence: Menlo Park, California

• Founded: 1972

• Notable portfolio companies: Apple, Google, Nvidia, YouTube, Zoom

• Portfolio size: 2,138 investments

You can refer to their website here.

10. Khosla Ventures

Khosla Ventures offers venture assistance to entrepreneurs, investing from seed rounds through to post-IPO stages. The firm focuses on companies in AI, sustainability, enterprise, consumer, health, and frontier technologies.

They have a history of backing ambitious companies early, such as participating in Block's (Square's) Series A and Instacart's seed round. Their portfolio includes major names like OpenAI and DoorDash, showing a focus on businesses with large-scale potential.

This firm is a strong choice if you are a founder working on technically complex ideas or in sectors like AI and sustainability. Their willingness to invest across all stages makes them a good long-term partner for companies with high-growth ambitions.

• Investment stages: Seed, early-stage venture, late-stage venture, and post-IPO

• Industries of focus: AI, sustainability, enterprise, consumer, health, and frontier technologies

• Geographical presence: Menlo Park, California

• Founded: 2004

• Notable portfolio companies: DoorDash, Instacart, Impossible Foods, OpenAI, Block (Square)

• Portfolio size: Over 1,290 investments

You can refer to their website here.

11. Mayfield Fund

Mayfield is a venture capital firm that has been investing since 1969, focusing on early-stage enterprise, deeptech, and human and planetary health companies. They partner with founders from the beginning of their journey, often providing seed and early-stage funding.

The firm has a long track record of supporting companies from their initial rounds through to major exits, including several high-profile IPOs and acquisitions like Lyft and SolarCity. They also back breakthrough infrastructure companies like HashiCorp, showing a focus on foundational technology.

Mayfield is a strong potential partner if you are a founder in enterprise software, deeptech, or health sectors. Their focus on early-stage investing combined with the ability to fund later rounds makes them a good fit for those seeking a long-term capital partner.

• Investment stages: Seed, early-stage venture, late-stage venture, and private equity

• Industries of focus: Enterprise, deeptech, and human and planetary health

• Geographical presence: Menlo Park, California

• Founded: 1969

• Notable portfolio companies: Lyft, HashiCorp, Marketo, SolarCity, Moat

• Portfolio size: Over 700 investments

You can refer to their website here.

12. Deerfield Management

Deerfield Management is an investment firm dedicated exclusively to the healthcare sector. They operate across investment, information, and philanthropy, supporting companies at all stages of growth.

The firm has a clear focus on life sciences, with portfolio companies like the oncology biotech Nuvalent and the managed-care insurer Centene Corporation. Their ability to invest from seed to post-IPO signals a capacity for long-term partnership through a company's entire lifecycle.

Deerfield is a strong potential partner if you are a founder in the biotech, pharmaceutical, or health insurance industries. Their deep sector expertise and multi-stage investment capability are ideal for companies needing support from early research through to public markets.

• Investment stages: Seed, early-stage venture, late-stage venture, and post-IPO

• Industries of focus: Health care, health insurance, and information services

• Geographical presence: New York, New York

• Founded: 1994

• Notable portfolio companies: Nuvalent, Viatris, Neurocrine Biosciences, Centene Corporation

• Portfolio size: 33 investments

You can refer to their website here.

13. Headline

Headline is a global venture capital firm that invests in technology companies from their earliest stages. They partner with founders from day one, providing support from inception through to later growth rounds.

A key feature of their approach is a proprietary data platform used to identify promising companies across the world. Their portfolio includes well-known names like Bumble, Segment, and Gopuff, showing a history of backing successful consumer and software businesses.

This firm is a good match if you are a founder who appreciates a data-driven investment process or has ambitions for global scale. Their experience is most relevant for companies in consumer tech, software, and fintech.

• Investment stages: Seed, early-stage venture, and growth

• Industries of focus: Consumer, software, fintech, and marketplaces

• Geographical presence: Global, with teams in the US, Europe, Asia, and Latin America

• Founded: 1998

• Notable portfolio companies: Bumble, Gopuff, Segment, Sorare, Acorns

• Portfolio size: Over 510 investments

You can refer to their website here.

14. Union Square Ventures

Union Square Ventures is a New York-based firm that invests in companies from early to late stages. They are known for their thesis-driven approach, which guides their investment decisions.

The firm focuses on startups that have the potential to build large networks, a strategy that led them to back companies like Twitter and Etsy. USV typically acts as a lead investor, often at the Series A stage, and supports its portfolio through the USV Network, which connects company leaders.

USV is a strong match if you are a founder building a business with powerful network effects. They are particularly interested in companies that align with their thesis of broadening access to knowledge, capital, and well-being.

• Investment stages: Primarily Series A, with support for companies from early to late stages

• Industries of focus: Companies that broaden access to knowledge, capital, and well-being, with a focus on climate and trust & safety

• Geographical presence: New York, New York

• Founded: 2003

• Notable portfolio companies: Twitter, Etsy, Coinbase, Stripe, Twilio

• Portfolio size: Over 470 investments

You can refer to their website here.

15. Craft Ventures

Craft Ventures is a venture capital firm that specializes in backing B2B software and SaaS companies. They focus on early-stage investments but also support companies through later growth rounds.

The firm has a clear concentration on the SaaS business model and has backed several well-known companies, including the productivity platform ClickUp and fintech company Affirm. Their portfolio shows a pattern of investing in businesses with strong product and go-to-market strategies.

This firm is a strong potential partner if you are a founder building a B2B or SaaS company. Their specialization suggests they can provide relevant operational guidance for scaling a software business.

• Investment stages: Seed, early-stage venture, and late-stage venture

• Industries of focus: B2B software and SaaS

• Geographical presence: San Francisco, California

• Founded: 2017

• Notable portfolio companies: Affirm, Airbnb, Anduril, ClickUp, Addepar

• Portfolio size: Over 325 investments

You can refer to their website here.

What Startup Founders Should Look for in a Multi Stage VC Firm

When evaluating a multi-stage VC firm, look beyond the check size to find a true long-term partner. The right investor offers more than just capital; they provide strategic guidance and operational support that aligns with your company's vision through every venture capital stage.

As our list shows, many top firms are concentrated in traditional hubs, but strong partners can also be found in cities like Boston. Consider whether a generalist firm or a specialist in a sector like financial services is a better fit. This choice can influence the quality of mentorship you receive.

Before you begin outreach, focus on these key areas:

• Thesis alignment with your industry and long-term goals

• Stage expertise, with a track record of supporting companies from early-stage venture capital to growth rounds

• Value-add, including specific network access or operational support

Raise Confidently with Rho

Fundraising requires significant time and focus. Using a targeted list of investors helps you direct your energy toward the firms most aligned with your company's vision.

If you’ve just raised or are planning to, Rho can help you set up your financial stack in minutes. Our platform is built for founders who need to move quickly and efficiently after securing capital.

We provide integrated tools to manage your funds, including business banking, corporate cards, and automated bill pay. This allows you to focus on growth while we support your financial operations.

FAQs about Multi Stage Venture Capital

What is the difference between early stage and late stage venture capital?

Early stage venture capital supports new companies, often through Series A. Later stage venture capital funds established businesses for growth. Many top early stage VC firms are based in California, focusing on this initial venture capital stage.

How do venture capital returns by stage differ?

Venture capital returns by stage are typically higher for early stage venture capital firms due to greater risk. Late stage growth venture capital investments, like those from VCs in AI, offer more moderate but often predictable returns.

What is a venture capital series?

A venture capital series (e.g., venture capital series A, B, C) is a distinct funding round. The venture capital series explained simply is that each round, common for B2B companies, provides capital for specific milestones.

Are there multi stage VCs for specific sectors like climate tech?

Yes, many VC firms specialize. You can find a multistage climate venture capital portfolio company within dedicated sustainability venture capital funds. These firms support companies from early stage venture capital through growth stage venture capital.

What defines a Series B or C venture capital round?

A Series B venture capital round is for scaling a company with product-market fit. The series B C venture capital definition for Series C venture capital involves funding for aggressive expansion, new markets, or acquisitions, common for EdTech startups.

How can Rho help after my venture capital series funding?

After your venture capital series funding, our platform helps you manage your new capital. We offer integrated banking, corporate cards, and automated bill pay, so you can focus on growth. Get started with Rho today.