15 Top Series C Venture Capital Firms in 2025

As you prepare for your Series C fundraise, knowing the investors in this space is essential. Finding the right partner is about securing capital and gaining support for your company’s next major expansion.

To assist with your outreach, our team has compiled this guide to prominent late-stage venture capital firms. We hope it gives you a clear view of the key investors before you begin conversations.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Series C funding is designed to help successful startups scale their operations, expand into new markets, and solidify their position as leaders.
• Prominent Series C investors include firms like AE Industrial Partners, FTV Capital, JMI Equity, and Aquiline Capital Partners, which are known for backing growing companies.
• Rho supports founders throughout the funding process: Rho Capital connects you to non-dilutive financing, and our all-in-one platform helps you manage your new capital with banking, cards, and automated payments.

What is Series C Venture Capital?

Series C funding is for successful startups ready to scale their operations and expand into new markets. Investors at this stage provide significant capital to help you solidify your market position, a clear progression from earlier rounds that focused on finding product-market fit.

Types of Series C VC Firms At A Glance

For founders raising a Series C, knowing which VC firms specialize by geography or sector can help focus your outreach; here’s a quick breakdown of those trends across top late-stage investors.

Series C VC Firms in California

Many prominent late-stage venture capital firms are based in California. For instance, San Francisco is home to FTV Capital, which backs high-growth enterprise and financial services companies, and Greenoaks, a global firm investing in technology. You'll also find Eclipse Ventures in Palo Alto, which supports companies transforming physical industries.

Series C Venture Capital in NYC and Boston

On the East Coast, New York City and Boston are major hubs for growth stage venture capital. In NYC, Aquiline Capital Partners provides capital to financial services and technology businesses. Boston is home to firms like Silversmith, which partners with technology and healthcare entrepreneurs.

Series C Firms for FinTech Startups

For FinTech startups, several Series C firms have a dedicated focus. JMI Equity invests in leading software companies, including those in FinTech, while New Jersey-based Edison Partners is a growth equity firm with a strong record in the sector.

Late-Stage Biotech and Healthcare VC Firms

Late-stage biotechnology and healthcare venture capital is another specialized area. Boston-based Third Rock Ventures invests in transformational life science companies, and 5AM Ventures, out of Menlo Park, also finances life sciences businesses.

Keep in mind that some VC firms are generalists, investing across a wide range of industries, locations, and even funding stages.

To help you identify the right investors, here is more information on leading Series C firms. We've included details on their locations, sector specializations, and what distinguishes each as a potential partner.

1. AE Industrial Partners

AE Industrial Partners is a private investment firm that concentrates on the aerospace, power generation, and specialized industrial sectors. Based in Boca Raton, Florida, the firm has been active since 1998, providing capital to established companies.

The firm shows a distinct focus on capital-intensive industries like SpaceTech, transportation, and energy. Their portfolio, which includes companies like Sierra Space and Firefly Aerospace, confirms their commitment to backing businesses that are modernizing physical industries.

This firm is likely a strong match for founders leading growth-stage companies in these specific sectors. If you are seeking an investor with deep operational knowledge in aerospace or industrial technology, AE Industrial Partners could be a valuable partner.

• Investment stages: Series C
• Industries of focus: SpaceTech, Transportation, Energy, ClimateTech & CleanTech
• Geographical presence: Boca Raton, Florida
• Founded: 1998
• Notable portfolio companies: Sierra Space, Firefly Aerospace

You can refer to their website here.

2. FTV Capital

Based in San Francisco, FTV Capital is a growth equity firm that backs high-growth companies in enterprise solutions, financial services, and payments. Since 1998, they have focused on providing capital to businesses at a key point in their expansion.

The firm’s portfolio, which includes companies like LoanPro, Plate IQ, and WePay, highlights a clear focus on B2B software and FinTech. They support companies that have already established a market presence and are ready to scale their operations significantly.

FTV Capital is likely a strong match for founders leading established SaaS or enterprise technology companies. If your business operates in their core sectors and is prepared for its next stage of growth, this firm could be a valuable partner.

• Investment stages: Series C
• Industries of focus: Enterprise, FinTech, SaaS, B2B, Payments
• Geographical presence: San Francisco
• Founded: 1998
• Notable portfolio companies: Basis Technologies, Luma Health, LoanPro, WePay

You can refer to their website here.

3. JMI Equity

JMI Equity is a growth equity firm based in Baltimore that invests in leading software companies. Since 1992, the firm has provided capital to businesses with proven models, helping them accelerate their growth.

The firm’s focus is exclusively on software, with a portfolio that includes well-known names like Workday Adaptive Planning and Classy. Their investment thesis spans numerous software categories, from cybersecurity and FinTech to HR Tech and EdTech.

JMI Equity is a strong potential partner for founders of established software companies ready for their next phase of expansion. If you have a strong market position and are seeking an investor with deep sector knowledge, this firm is worth a look.

• Investment stages: Series C
• Industries of focus: Software, SaaS, FinTech, Cybersecurity, Enterprise
• Geographical presence: Baltimore, Maryland
• Founded: 1992
• Notable portfolio companies: Workday Adaptive Planning, Classy, AlertMedia, Huntress

You can refer to their website here.

4. Aquiline Capital Partners

Aquiline Capital Partners is a New York-based private investment firm that provides capital to businesses in the financial services and technology industries. Since its founding in 2005, the firm has concentrated on backing innovative companies at the growth stage.

The firm's investment activity is centered on FinTech, InsurTech, and related software sectors. Their focus on Series C funding indicates they support established companies that are prepared for significant expansion.

Aquiline is a strong potential partner for founders whose companies operate at the intersection of finance and technology. If your business has a proven model and is seeking capital to scale, this firm's specific industry knowledge could be a good fit.

• Investment stages: Series C
• Industries of focus: FinTech, InsurTech, Consumer, Software
• Geographical presence: NYC
• Founded: 2005
• Portfolio size: 23 investments

You can refer to their website here.

5. Goodwater Capital

Goodwater Capital is a San Francisco-based venture fund that invests in consumer technology companies. Since its founding in 2014, the firm has focused on backing entrepreneurs who are building products intended to create positive global change.

The firm’s investment thesis is centered on consumer-facing businesses across a wide range of sectors, including FinTech, Healthcare, and E-commerce. Their portfolio, with companies like Polygon and Boulder Care, reflects this broad but consumer-centric approach.

Goodwater Capital is a strong potential partner for founders of mission-driven, consumer technology startups ready for their Series C round. If your company has a proven product and is prepared to scale its impact, this firm could be a suitable partner.

• Investment stages: Series C
• Industries of focus: Consumer Tech, FinTech, Healthcare, E-Commerce, AI/ML
• Geographical presence: San Francisco
• Founded: 2014
• Notable portfolio companies: Boulder Care, Polygon, Simple Health
• Portfolio size: 218 investments

You can refer to their website here.

6. Greenoaks Capital

Greenoaks is a global investment firm based in San Francisco that specializes in technology companies. Since its founding in 2012, the firm has concentrated on providing capital to businesses at the growth stage.

The firm maintains a clear focus on technology sectors, including FinTech, enterprise software, and healthcare. Their portfolio, which features companies like Tipalti and Commure, shows a commitment to backing established tech businesses.

Greenoaks is a strong potential partner for founders of Series C technology companies in their core sectors. If you are leading an established business and seek a focused, global investor, this firm is worth considering.

• Investment stages: Series C
• Industries of focus: FinTech, Software, Healthcare, AI/ML, Enterprise
• Geographical presence: San Francisco
• Founded: 2012
• Notable portfolio companies: Tipalti, Commure, Exafunction
• Portfolio size: 104 investments

You can refer to their website here.

7. Silversmith Capital Partners

Silversmith Capital Partners is a Boston-based growth equity firm that supports technology and healthcare companies. Since 2015, they have focused on partnering with entrepreneurs to help them scale their businesses.

The firm invests in product-led growth companies, particularly in SaaS and healthcare IT. Their portfolio, which includes companies like ActiveCampaign and Zonos, shows a clear preference for businesses with established market traction.

Silversmith is a good match for founders of capital-efficient SaaS and healthcare companies ready for significant growth. If you are looking for a partner with deep experience in these sectors, this firm is worth considering.

• Investment stages: Series C
• Industries of focus: SaaS, Healthcare IT, FinTech, Enterprise
• Geographical presence: Boston, Massachusetts
• Founded: 2015
• Notable portfolio companies: ActiveCampaign, Zonos, Venminder

You can refer to their website here.

8. Declaration Partners

Declaration Partners is a New York-based investment firm that makes direct investments in companies. Founded in 2017, the firm provides capital to businesses at the growth stage, with a focus on Series C rounds.

The firm invests across a wide range of sectors, from technology and healthcare to consumer industries like food and hospitality. Their portfolio, which includes companies like ConcertAI and Cava Group, reflects this diverse investment strategy.

Declaration Partners is a good potential match for founders of established companies in multiple sectors who are ready for their Series C round. If your business has a proven model and operates in one of their focus areas, this firm could be a suitable investor.

• Investment stages: Series C
• Industries of focus: Big Data, AI/ML, BioTech, SaaS, Healthcare, Food & Beverage
• Geographical presence: New York
• Founded: 2017
• Notable portfolio companies: ConcertAI, Duos, Cava Group
• Portfolio size: 28 investments

You can refer to their website here.

9. Eclipse Ventures

Eclipse Ventures is a Palo Alto-based firm that invests in companies transforming foundational industries. They focus on businesses that are modernizing sectors essential to the economy.

The firm's portfolio shows a clear commitment to companies at the intersection of hardware and software, particularly in robotics, manufacturing, and logistics. With portfolio companies like Reliable Robotics Corporation and Third Wave Automation, they back businesses that digitize physical industries.

Eclipse Ventures is a strong potential partner for founders building technology to improve core industrial and supply chain operations. If your company is developing solutions for manufacturing, transportation, or other physical sectors, this firm's focus aligns well.

• Investment stages: Series C
• Industries of focus: Industrials, Manufacturing, Transportation, Logistics, Robotics, Software
• Geographical presence: Palo Alto, California
• Founded: 2015
• Notable portfolio companies: Reliable Robotics Corporation, Third Wave Automation, Oxide Computer Company
• Portfolio size: 108 investments

You can refer to their website here.

10. Industry Ventures

Industry Ventures is a San Francisco-based investment firm that manages over $3.5 billion in capital. Since 2000, they have focused on making venture capital investments, primarily at the growth stage.

The firm invests across a wide array of technology sectors, from SaaS and FinTech to Healthcare and EdTech. Their large portfolio, which includes companies like Quizlet, Pantheon, and Kin Insurance, shows their extensive experience in scaling businesses.

This firm is a good fit for founders of established technology companies seeking a Series C partner with a broad network. If you are looking for an investor with a long history and a significant number of successful exits, Industry Ventures is worth considering.

• Investment stages: Series C
• Industries of focus: SaaS, FinTech, Healthcare, E-Commerce, EdTech
• Geographical presence: San Francisco
• Founded: 2000
• Notable portfolio companies: Quizlet, Pantheon, Kin Insurance, Turvo
• Portfolio size: 158 investments

You can refer to their website here.

11. Third Rock Ventures

Third Rock Ventures is a Boston-based firm that invests in life science companies with high growth potential. Since its founding in 2007, the firm has focused on providing capital to businesses in the healthcare and biotechnology sectors.

The firm’s investment activity is concentrated on biotech, medical devices, and healthcare. Their portfolio, which includes companies like Element Science and Ambys Medicines, shows a clear commitment to backing businesses that are making significant scientific advancements.

Third Rock Ventures is a strong potential partner for founders of growth-stage life science companies. If your business has a solid scientific foundation and is ready to scale, this firm's deep industry knowledge could be a valuable asset.

• Investment stages: Series C
• Industries of focus: BioTech, Healthcare, Medical Devices
• Geographical presence: Boston, Massachusetts
• Founded: 2007
• Notable portfolio companies: Element Science, Ambys Medicines, Cedilla Therapeutics
• Portfolio size: 123 investments

You can refer to their website here.

12. 5AM Ventures

5AM Ventures is a venture capital firm based in Menlo Park that invests in life science companies. The firm supports businesses from their early stages through to their growth rounds.

The firm has a clear concentration on biotechnology and healthcare, backing companies with strong scientific foundations. Their portfolio, which includes businesses like Artiva Biotherapeutics and Enliven Therapeutics, shows their commitment to advancing life sciences.

5AM Ventures is a strong potential partner for founders leading life science companies ready for their Series C round. If your business is built on significant scientific research, this firm’s specialized focus could be a good fit.

• Investment stages: Series C
• Industries of focus: BioTech, Life Science, Healthcare
• Geographical presence: Menlo Park, California
• Founded: 2002
• Notable portfolio companies: Artiva Biotherapeutics, Enliven Therapeutics, Dianthus Therapeutics
• Portfolio size: 166 investments

You can refer to their website here.

13. Boathouse Capital

Boathouse Capital is a Pennsylvania-based firm that provides structured capital to growth-stage companies. Since 2009, they have focused on offering both debt and equity financing to support businesses as they scale.

The firm invests across a range of sectors, including software, media, and telecommunications. Their approach of providing structured capital, which combines debt and equity, offers founders flexible financing options beyond a traditional equity round.

Boathouse Capital is a good potential partner for founders of established companies in sectors like SaaS, AdTech, or media. If you are looking for a flexible capital structure that includes debt options, this firm's model may be a strong fit.

• Investment stages: Series C
• Industries of focus: AdTech, Entertainment & Media, SaaS, PropTech, TMT
• Geographical presence: Wayne, Pennsylvania
• Founded: 2009
• Notable portfolio companies: Choozle, Convene, Unitas Global
• Portfolio size: 23 investments

You can refer to their website here.

14. Edison Partners

Edison Partners is a growth equity firm based in Princeton, New Jersey, that invests in technology companies. Since 1986, they have focused on providing capital to businesses in the fintech, healthcare IT, and enterprise software sectors.

The firm has a clear concentration on capital-efficient businesses with established market traction. Their portfolio, which includes companies like Yieldstreet and Capital Rx, demonstrates a consistent focus on their core industries.

Edison Partners is a strong potential match for founders of growth-stage companies in their key sectors. If you lead an established business and are seeking an investor with a long track record, this firm is worth considering.

• Investment stages: Series C
• Industries of focus: FinTech, Healthcare IT, Enterprise Software
• Geographical presence: Princeton, New Jersey
• Founded: 1986
• Notable portfolio companies: Yieldstreet, Capital Rx, Overhaul, Pixability
• Portfolio size: 235 investments

You can refer to their website here.

15. Learn Capital

Learn Capital is a venture capital firm based in San Mateo, California, that invests exclusively in companies focused on improving education and learning. Since 2008, they have backed entrepreneurs who are building new tools and platforms in the learning sector.

The firm's portfolio shows a clear dedication to EdTech, with investments in companies like Varsity Tutors and Teachable that have become well-known in the space. Their focus is on growth-stage companies that have already found a market and are ready to expand their reach.

This firm is a strong potential partner for founders of established EdTech companies preparing for a Series C round. If your business has a proven model for smarter learning, Learn Capital's specific industry focus could be a great match.

• Investment stages: Series C
• Industries of focus: EdTech, SaaS, FinTech, Enterprise
• Geographical presence: San Mateo, California
• Founded: 2008
• Notable portfolio companies: Varsity Tutors, Teachable, Climb Credit, Minerva Project
• Portfolio size: 145 investments

You can refer to their website here.

What Startup Founders Should Look for in a Series C VC Firm

When selecting a Series C venture capital firm, look beyond the check size to find a partner who offers true strategic value. The right investor brings deep industry knowledge and a network that can accelerate your growth. As our list shows, many late-stage VC firms specialize in sectors like SaaS or healthcare, providing targeted expertise.

While major hubs like California and New York host many growth-stage venture capital funds, specialized investors are located across the country, from Florida to emerging tech centers like Chicago. Consider whether a firm’s geographical presence aligns with your expansion plans or if their sector focus is more critical to your success.

Ultimately, your decision should be based on a few key factors:

• Sector expertise relevant to your business
• A track record of scaling companies at your stage
• Alignment on long-term vision and company culture

Thorough due diligence will help you identify a partner who can support your company's next chapter.

Raise Confidently with Rho

Focusing on the right investors is critical when time and resources are limited during a fundraise. We hope this guide helps you identify partners who are a strong match for your company.

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 manage their finances with confidence.

While you're raising, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines. Once capital is secured, our integrated business banking, corporate cards, and automated bill pay help you manage and deploy funds efficiently.

FAQs about Series C Venture Capital

What are typical venture capital returns by stage?

Venture capital returns by stage vary; later-stage venture capital funds generally target lower multiples than early-stage funds due to lower risk. Growth stage venture capital investments in established companies aim for consistent, strong returns rather than speculative home runs.

How do late-stage VC firms differ from early-stage ones?

Late-stage VC firms focus on scaling proven business models with significant capital. Unlike early-stage investors who bet on potential, these firms prioritize companies with strong market traction and predictable revenue streams, often with deep sector expertise.

What is the difference between Series B and Series C venture capital?

Series B venture capital typically focuses on optimizing a business model and building out teams. Series C venture capital is for scaling aggressively, capturing market share, and expanding into new territories, often as a final step before an IPO.

Are there late-stage biotech VC firms outside of major hubs?

Yes, while Boston and California are prominent, late-stage biotech venture capital exists in other USA hubs. For example, cities like Austin and Miami have growing ecosystems with venture capital firms supporting life sciences innovation.

How do multistage growth venture capital funds approach Series C?

Multistage growth venture capital funds invest across various venture capital stages. For Series C, they provide follow-on funding to their successful portfolio companies or invest in new companies that have reached the growth stage and fit their thesis.

How can Rho help manage my Series C venture capital funding?

After you secure Series C venture capital, our platform helps you manage it. We offer integrated business banking, corporate cards, and automated payments to help you deploy your new capital efficiently. Get started with Rho today.