PitchBook blog

Your resource for all things PitchBook
light blue solid and striped circle in bottom right corner of cream background
Venture Capital

Top worldwide venture capital investors by AUM in 2023

PitchBook’s list of the top venture capital companies worldwide in 2023. Find out more about those VC firms & their investment strategies.

US VC has faced challenges over the past two years. Since 2021, the number of active investors has steadily declined, plummeting by 38% in the first three quarters of 2023 alone. As the playing field thins out, 10 investors have risen above the rest. Despite difficult market conditions, they continued investment activities in 2023, topping the charts for assets under management (AUM)—the total market value of investments managed by a firm.

What is a VC investor?

Venture capital (VC) is a method of financing where investors offer capital to early-stage companies in exchange for a minority stake of equity. Often, these investments will be made by VC firms—specialized investment firms focused on funding and mentoring startups and other young companies.

To generate funds for investments, VC firms will open venture funds—pools of money that are strategically invested into promising private companies. VC firms raise capital for these funds by asking for commitments from limited partners (LPs), most commonly high-net worth individuals, pension funds, university endowments, and large family offices.

To generate profits of their own, many VC firms collect both performance and management fees for their investments, typically following a 2-and-20 structure. Managements fees are calculated as a percentage of AUM, around 2%. Performance fees are calculated as a percent of investment profits, around 20%. Many VC firms use performance fees to pay out their employees, incentivizing further success.

Top VC investors by AUM

These 10 VC investors had the most assets under management worldwide as of December 31, 2023. All investors participated in at least one VC deal in 2023.

10. General Catalyst

📍 Location: San Francisco, California
🗓️ Year founded: 2000
💰 AUM: $25.00B

Investment preferences: General Catalyst prefers to make investments in companies operating in consumer, enterprise, fintech, crypto, health assurance, software, transportation, big data, and technology sectors. It primarily seeks investments between $0.50M - $2.00M in companies with more than $10.00M in revenue.

Most recent investment: The firm participated in a Series B funding round for deep learning acceleration platform Exafunction on January 30, 2024. In a deal led by Kleiner Perkins, the firm invested $65.00M, putting Exafunction’s pre-money valuation at $450.00M.

9. New Enterprise Associates

📍 Location: Lutherville-Timonium, Maryland
🗓️ Year founded: 1977
💰 AUM: $25.91B

Investment preferences: New Enterprise Associates prefers to invest in companies operating in the enterprise, consumer, life sciences, and digital health sectors.

Most recent investment: The firm led a combination Series B1 and Series B2 funding round for preclinical biopharmaceutical company Comanche Biopharma on January 17, 2024. The firm raised a total of $75.00M, putting the company’s pre-money valuation at $125.00M.

8. Andreessen Horowitz

📍 Location: Menlo Park, California
🗓️ Year founded: 2009
💰 AUM: $35.00B

Investment preferences: Andreessen Horowitz primarily seeks to invest in sectors such as bio and healthcare, consumer, crypto, enterprise, fintech, games, and in companies building toward American dynamism.

Most recent investment: On January 30, 2024, the firm raised $18.20M in a series A-2 funding round for tax incentive consulting service provider Crux. The deal put the company’s pre-money valuation at $50.00M.

7. Sienna Investment Managers

📍 Location: Strassen, Luxembourg
🗓️ Year founded: 2013
💰 AUM: $37.29B

Investment preferences: Sienna Investment Managers is a fund of funds pursuing VC opportunities. It aims to construct a diversified portfolio of investment managers.

Most recent investment: The firm participated in a Series C funding round for AI diagnostics technology developer Ibex Medical Analytics on September 6, 2023. Alongside 5 co-investors, the deal raised a total of $55.00M.

6. Kiwoom Investment

📍 Location: Seoul, South Korea
🗓️ Year founded: 1999
💰 AUM: $40.60B

Investment preferences: Kiwoom Investment seeks investments in companies operating in ICT manufacturing and services, bio and healthcare, culture, games, consumer goods, distribution services, machines, equipment, chemicals, and materials.

Most recent investment: On November 14, 2023, the firm invested $14.94M of Series A funding into non-clinical trial platform Key Prime Research alongside 13 co-investors.

5. HongShan

📍 Location: Beijing, China
🗓️ Year founded: 2005
💰 AUM: $56.00B

Investment preferences: HongShan, also known as Sequoia Capital China, seeks investments in agriculture, distribution, B2B, education, retail, energy, financial services, healthcare, and technology sectors.

Most recent investment: On January 30, 2024, the firm led a $1.40M seed round deal for software and IT developer Yacheng Network. The deal was made alongside four co-investors.

4. Shenzhen Capital Group

📍 Location: Shenzhen, China
🗓️ Year founded: 1999
💰 AUM: $63.86B

Investment preferences: Schenzhen Capital Group is a VC firm established by Shenzhen Government. It focuses on cultivating national industries, shaping national brands, promoting economic transformation, and developing emerging industries. It primarily invests in industries supported by national policies.

Most recent investment: The firm participated in a $35.10M investment into satellite navigation equipment developer Zhejiang Xunlian Technology on January 23, 2024 alongside six co-investors.

3. ES Investor

📍 Location: Seoul, South Korea
🗓️ Year founded: 2000
💰 AUM: $67.40B

Investment preferences: ES Investor prefers to make investments in the IT sector.

Most recent investment: Alongside three co-investors, the firm invested an undisclosed amount of Series A funding into luggage delivery service provider Zim Carry on November 1, 2023.

2. Tiger Global Management

📍 Location: New York, New York
🗓️ Year founded: 2001
💰 AUM: $75.00B

Investment preferences: Tiger Global Management seeks investments in the internet, software, consumer, and financial technology sectors.

Most recent investment: Alongside five co-investors, the firm invested a total of $38.00M in a combination Series B and Series B-2 round for Briq, a financial automation platform. The deal was completed on January 18, 2024.

1. Sequoia Capital

📍 Location: Menlo Park, California
🗓️ Year founded: 1972
💰 AUM: $85.00B

Investment preferences: Sequoia Capital prefers to invest in early to growth stage companies in the information technology, healthcare, manufacturing, mobile, nanotechnology, financial service, internet, energy, media, and retail sectors.

Most recent investment: The firm participated in a $19.13M investment in chat-based money transfer platform Felix in a third-round deal on January 29, 2024 alongside 10 co-investors.

Tracking VC companies with PitchBook

Our intuitive platform makes it easy to keep up with VCs. Whether you’re an entrepreneur looking for funding or an investor on the hunt for new opportunities, our customizable search features can help you find and compare venture capital firms. Plus, our real-time researchers make sure you stay on top of VC investment activities.

Looking for VC investors in a specific sector? Browse our lists of most active investors by industry.