Top 14 Venture Capital Firms for Enterprise Startups

When preparing to raise capital, knowing which investors truly understand the Enterprise software space is crucial. Approaching the right technology venture capital firms saves you valuable time and connects you with partners who can offer strategic guidance, not just a check.

To help you find the right fit, our team at Rho curated this overview of top VC firms focused on Enterprise and SaaS. Use this guide to quickly identify relevant investors as you prepare for your fundraise.

Just raised, or about to? Set up your financial stack with Rho in minutes. We provide business banking, corporate cards, and bill pay—all built for startup teams moving fast.

Which VC Firms in Enterprise Are Right for Your Stage?

Whether you're an early-stage company or preparing for an exit, it helps to know who to talk to. We've created a quick overview of which enterprise VC firms invest at each stage.

Pre-seed and Seed VC Firms in Enterprise

Pre-seed and seed funding are the earliest forms of capital, typically used to validate an idea and build a minimum viable product. For enterprise software startups at this stage, firms like Frontures, Sputnik ATX, and M25 are active investors.

Early Stage VC Firms in Enterprise

Early-stage funding, including Series A and B rounds, helps companies with proven traction scale their operations and accelerate growth. Technology venture capital firms such as Glasswing Ventures, Brick & Mortar Ventures, and Tech Square Ventures focus on this phase of a company's journey.

Late Stage VC Firms in Enterprise

Late-stage venture capital is for mature companies seeking to expand into new markets, make acquisitions, or prepare for an exit. Investors like Capital One Ventures, Dell Technologies Capital, and Lumia Capital provide capital for these growth-stage companies.

Additionally, many venture capital firms invest across multiple stages, from seed to exit.

Below is a closer look at top VC firms focused on the Enterprise sector. We've included key details about their investment stages, geographic focus, and what makes each firm a valuable partner for founders.

1. Glasswing Ventures

Glasswing Ventures is an early-stage venture capital firm that invests in startups using artificial intelligence and other frontier technologies. Their primary focus is on companies building for the enterprise and cybersecurity markets.

The firm has a clear concentration on AI-powered B2B platforms, with portfolio companies like Zylotech, a customer data platform acquired by Terminus. This focus suggests they have deep technical expertise and a network tailored to enterprise software challenges.

This firm is a strong potential partner if you are an early-stage founder developing an AI-native solution for a specific enterprise or security problem. Their portfolio indicates a preference for companies with strong technical foundations.

• Investment stages: Seed and early-stage
• Industries of focus: AI, enterprise software, and cybersecurity
• Geographical presence: Based in Boston, MA
• Founded: 2016
• Notable portfolio companies: Black Kite, ChaosSearch, and Allure Security

You can refer to their website here.

2. LRVHealth

LRVHealth is a venture capital firm with a deep focus on the healthcare industry. Founded in 2000, their team is composed of experienced healthcare investors and operators, giving them an "inside healthcare" perspective on the market.

The firm invests across a company's lifecycle, from seed to late-stage rounds, specializing in enterprise, medical device, and security sectors within healthcare. Their portfolio includes notable successes like the patient-intake platform Phreesia, which went public, demonstrating their ability to back companies to a successful exit.

LRVHealth is an ideal partner if you are a founder building a technology solution for the healthcare market. Their operational background and multi-stage investment approach make them a good fit for companies seeking both capital and deep industry guidance.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Health Care, Enterprise, Medical Device, and Security
• Geographical presence: Based in Boston, MA
• Founded: 2000
• Notable portfolio companies: Carevive, Current Health, and Phreesia

You can refer to their website here.

3. M25

M25 is an early-stage venture capital firm that concentrates on startups headquartered in the Midwest. They are one of the most active investors in the region, backing companies across a wide range of industries.

The firm's defining feature is its commitment to the Midwest tech ecosystem, investing from seed to early-stage rounds. Their portfolio includes notable companies like Kin Insurance, their first unicorn, and successful exits such as Pactsafe.

M25 is a strong potential partner if you are an early-stage founder building a company in the Midwest. Their broad industry focus makes them a good fit for startups in sectors from enterprise software to consumer tech.

• Investment stages: Seed and early-stage
• Industries of focus: Enterprise software, FinTech, and consumer
• Geographical presence: Based in Chicago, with a focus on the Midwest
• Founded: 2015
• Notable portfolio companies: Kin Insurance, Loop Returns, and Branch

You can refer to their website here.

4. G20 Ventures

G20 Ventures is a capital partner for companies from seed to late-stage, with a focus on enterprise software and Web3. The firm positions itself as a partner for helping technology communities grow and scale their operations.

The firm has a history of backing companies to successful exits, including the cloud communications platform Fuze. Their portfolio also includes high-profile names like Napster, indicating experience with both enterprise and consumer-facing technologies.

G20 Ventures is a strong fit if you are a founder in the enterprise or Web3 space looking for a long-term partner. Their ability to invest across multiple stages suggests they can support a company from its early days through a major exit.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Enterprise, Web3, and consumer
• Geographical presence: Based in Boston, MA
• Founded: 2013
• Notable portfolio companies: Fuze, Napster, and Frame

You can refer to their website here.

5. Brick & Mortar Ventures

Brick & Mortar Ventures invests in companies developing software and hardware solutions for the built world. They focus on technology for the architecture, engineering, and construction industries.

The firm's specialization is evident in its portfolio, which includes major construction-tech exits like PlanGrid, acquired by Autodesk for $875 million. They concentrate on seed and early-stage rounds, providing foundational support for emerging companies.

This firm is a strong potential partner if you're a founder building technology for the construction or real estate sectors. Their deep industry expertise is valuable for startups aiming to modernize these fields.

• Investment stages: Seed and early-stage
• Industries of focus: Construction, Architecture, Civil Engineering, Facility Management, Hardware, Software
• Geographical presence: Based in San Francisco, CA
• Founded: 2015
• Notable portfolio companies: PlanGrid, BuildingConnected, Fieldwire, HoloBuilder

You can refer to their website here.

6. PJC

PJC is an early-stage venture capital firm that invests in enterprise, consumer, and artificial intelligence startups. Founded in 2001, they have a long history of backing technology companies from their initial stages.

The firm has a track record of guiding companies to significant outcomes, with notable exits including Nest (acquired by Google) and Expensify (IPO). Their portfolio shows a breadth of experience, from consumer hardware to enterprise SaaS, signaling their ability to support different business models.

PJC is a strong potential partner for early-stage founders whose companies address large markets in either consumer or enterprise tech. Their history suggests they are well-equipped to support ambitious teams from the initial investment through to a major exit.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Enterprise, Consumer, AI, FinTech, InsurTech
• Geographical presence: Based in Boston, MA
• Founded: 2001
• Notable portfolio companies: Nest, Expensify, Appcast, Evergage

You can refer to their website here.

7. Capital One Ventures

Capital One Ventures is the strategic investment arm of Capital One, backing companies that are shaping the future of data, technology, and financial services. They function as a strategic partner, investing in startups that align with the bank's long-term goals.

As a corporate venture firm, they offer access to the resources and expertise of a major financial institution, not just capital. Their portfolio includes major successes like the data platform Snowflake, demonstrating their ability to support companies to a significant scale.

This firm is a strong match if you are a founder in the FinTech, enterprise AI, or data infrastructure sectors. They are particularly well-suited for companies that could benefit from a strategic relationship with Capital One.

• Investment stages: Seed to late-stage
• Industries of focus: FinTech, B2B, Big Data, Cloud Infrastructure, Enterprise
• Geographical presence: Based in San Francisco, CA
• Founded: 2014
• Notable portfolio companies: Snowflake, MoneyLion, Glean, Aqua Security

You can refer to their website here.

8. Frontures

Frontures is a pre-seed and seed-stage venture capital firm that invests in enterprise, blockchain, and internet startups. Based in San Francisco, they provide early capital to companies building foundational technologies.

The firm has a clear focus on technically complex businesses. Their portfolio includes companies like Jacobi Robotics, which simplifies industrial robot programming, and Neuronix AI Labs, which optimizes computer-vision models for edge devices, according to PitchBook data. They also back companies like 3DOS, which is building a decentralized manufacturing network.

Frontures is a strong potential partner if you are a founder with a deep technical background building for a specialized market. Their portfolio suggests a preference for product-centric teams working on frontier technologies like applied AI, robotics, or decentralized systems.

• Investment stages: Pre-seed and Seed
• Industries of focus: Enterprise, Blockchain, Internet
• Geographical presence: Based in San Francisco, CA
• Founded: 2019
• Notable portfolio companies: Jacobi Robotics, 3DOS, Kanari AI, Neuronix AI Labs

You can refer to their website here.

9. Dell Technologies Capital

Dell Technologies Capital is the corporate venture arm of Dell Technologies, investing in enterprise and cloud infrastructure startups from seed to late stage.

As a strategic investor, the firm offers access to the resources and expertise of Dell Technologies, not just capital. Their portfolio features numerous high-profile exits, including acquisitions by Microsoft and Intel and an IPO with Arista Networks.

This firm is a strong match for founders building technology in the enterprise or cloud infrastructure sectors. Companies that could benefit from a strategic relationship with Dell Technologies will find them to be a particularly valuable partner.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Enterprise, cloud infrastructure, and software
• Geographical presence: Based in Palo Alto, CA
• Founded: 2012
• Notable portfolio companies: Adallom, Barefoot Networks, Arista Networks, BastionZero

You can refer to their website here.

10. Sputnik ATX

Sputnik ATX is an Austin-based venture capital fund and accelerator that invests in early-stage companies led by “maker-founders.” They combine capital with a hands-on accelerator program to support growth from the earliest stages.

A key characteristic is their broad industry focus, which includes everything from enterprise software to consumer brands like the vegan cosmetics line LAMIK. This makes Sputnik ATX a good fit for product-focused founders in many sectors who can benefit from an accelerator environment.

• Investment stages: Seed and early-stage
• Industries of focus: Enterprise, Retail, Beauty, Gaming, Mobile, and more
• Geographical presence: Based in Austin, TX
• Founded: 2017
• Investor type: Accelerator and venture capital
• Notable portfolio companies: Cognitive View, Kargoplex, LAMIK

You can refer to their website here.

11. Expansion Venture Capital

11. Expansion Venture Capital

Expansion Venture Capital is a New York-based firm that provides capital and mentorship to companies from seed to late-stage rounds. They invest across a variety of sectors, including enterprise software, fintech, and consumer brands.

The firm has a track record of backing high-profile consumer and fintech companies to successful exits, including IPOs for Lemonade and Allbirds. This history suggests a strong focus on brands with the potential for mainstream adoption and significant market impact.

Expansion Venture Capital is a good fit if you are a founder building a high-growth consumer or fintech company. Their portfolio indicates they are experienced partners for startups aiming for large-scale success and public market exits.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Enterprise, FinTech, Consumer, Automotive, Real Estate, Robotics
• Geographical presence: Based in New York, NY
• Founded: 2010
• Notable portfolio companies: Lemonade, Turo, Carta, ClassPass, Allbirds

You can refer to their website here.

12. Tech Square Ventures

Tech Square Ventures is an Atlanta-based venture fund that invests in seed and early-stage companies. They concentrate on enterprise software, marketplaces, and tech-enabled services.

A key characteristic of the firm is its support for companies with practical, high-impact applications. For example, their portfolio includes Coros, whose technology was used to monitor COVID-19 vaccines, and Moth + Flame, a VR training platform adopted by the U.S. Air Force.

This firm is a strong fit if you are an early-stage founder building an enterprise or platform business. They are particularly well-suited for companies whose technology can be validated in large-scale commercial or government settings.

• Investment stages: Seed and early-stage
• Industries of focus: Enterprise, Marketplace, Platform, IoT, Supply Chain Management
• Geographical presence: Based in Atlanta, GA
• Founded: 2014
• Notable portfolio companies: Saleo, Coros, Moth + Flame

You can refer to their website here.

13. Zeno Partners

Zeno Partners, through its venture arm Zeno Ventures, invests in technology companies from their early stages through to periods of significant growth. The firm backs startups across both consumer and enterprise markets.

A key feature of the firm is its portfolio of high-growth companies, including unicorns like the autonomous vehicle software company Applied Intuition and the fintech platform Mercury. Their investments also show breadth, from the prop-tech brand AvantStay to specialized tools for life sciences and AI, which are featured in their main portfolio.

Zeno is a good match for founders building high-growth companies in the enterprise, consumer, or financial technology sectors. Their track record suggests they are well-equipped to partner with teams aiming for significant scale and market leadership.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Consumer, Enterprise, and Financial Services
• Geographical presence: Based in San Francisco, CA
• Founded: 2016
• Notable portfolio companies: Applied Intuition, Mercury, AvantStay, BioRender, Activeloop
• Number of investments: 54

You can refer to their website here.

14. Lumia Capital

Lumia Capital is an expansion-stage venture firm that partners with US and European companies poised for international growth. They provide capital to help established businesses scale into new global markets.

The firm's defining feature is its focus on helping innovators expand globally, a crucial step for breakout success. Their portfolio includes major exits like the $3.1B acquisition of Careem by Uber and the IPO of PagerDuty, showing their ability to back companies to significant outcomes.

Lumia Capital is a great fit if you are a founder of a growth-stage company ready to expand internationally. They are particularly well-suited for SaaS and FinTech businesses seeking a partner with experience in cross-border scaling.

• Investment stages: Late-stage / Expansion
• Industries of focus: Enterprise, SaaS, FinTech, and Retail Technology
• Geographical presence: Based in San Francisco, CA
• Founded: 2011
• Notable portfolio companies: Careem, PagerDuty, Kabbage

You can refer to their website here.

What This Tells Us About The VC Scene for Enterprise Companies

This overview of venture firms shows a healthy and active funding environment for enterprise software startups. A significant number of investors on our list focus on pre-seed, seed, and early-stage rounds. This is a positive signal for you as a founder, as it indicates that capital is available for companies in their initial phases of growth.

Geographically, while traditional tech centers like the Bay Area and Boston are well-represented, there is also a strong presence of firms in cities like Chicago, Atlanta, and Austin. This distribution of capital means you can find the right partner in a variety of locations. The mix of traditional VCs, corporate venture arms, and accelerators also provides different kinds of strategic value, giving you more options to find a partner whose expertise aligns with your business goals.

Raise Confidently with Rho

A focused list of relevant investors is one of your most valuable assets during a fundraise. It helps you direct your limited time and energy toward the conversations that matter most.

If you’ve just raised, Rho can help you set up your financial stack in minutes. This lets you move from closing your round to building your business without delay.

Our platform gives you the tools to manage your new capital efficiently. We provide business banking, corporate cards, and automated bill pay, all in one place for startups.

FAQs about Venture Capital Firms Focused on Enterprise

Which venture capital firms in Silicon Valley focus on enterprise software?

Silicon Valley is home to many top enterprise VCs. Firms like Dell Technologies Capital and Brick & Mortar Ventures are based there, offering capital and strategic support for founders building for the enterprise market.

What do early-stage SaaS VC firms look for?

Early-stage SaaS VCs typically look for a strong founding team, a clear problem you are solving, and early signs of product-market fit. Evidence of initial customer traction or a compelling minimum viable product is often key.

Are there enterprise venture capital firms in New York?

Yes, New York has a growing community of enterprise-focused investors. Firms like Expansion Venture Capital are based in NYC, backing companies in enterprise software and other sectors from their earliest stages through periods of major growth.

How can I find European venture capital firms for my SaaS startup?

To find European VCs, research firms with a presence in tech hubs like London, Berlin, or Paris. Many US-based firms, such as Lumia Capital, also specialize in helping companies expand into international markets, including Europe.

What makes a good partner in a technology venture capital firm?

A great partner offers more than just capital. Look for a firm with deep industry knowledge, a helpful network of contacts, and a track record of supporting founders through the challenges of building a company.

How can Rho help my startup after I raise from a VC?

Once your round is closed, our platform helps you manage your new capital. We provide integrated business banking, corporate cards, and bill pay to help you scale efficiently. Get started with Rho today.