A chipmaker was in one of every eleven $100M rounds
NVIDIA and its venture arm backed 79 of the year's largest raises, more than any venture firm. Who was named in 903 rounds of $100M or more.
$100M+ rounds with NVIDIA or NVentures in them
- 79 Rounds NVIDIA or NVentures was in, more than any venture firm. Post this ↗
- 65 NVIDIA on its own. Only Sequoia (75) and Andreessen Horowitz (73) were in more. Post this ↗
- $7.7B Average round Fidelity joined, against $3.5B for one Sequoia joined. Post this ↗
- 38% Had a corporate investor, up from 35% a year earlier. Post this ↗
One in eleven
903 rounds of $100M or more named their investors. NVIDIA or its venture arm, NVentures, was in 79 of them. Sequoia was in 75 and Andreessen Horowitz in 73. No other investor reached 70.
Not a venture firm
NVIDIA on its own, without NVentures, was in 65. That is more than Lightspeed, General Catalyst or Accel. Its rounds ran from Reflection AI and Baseten to Nscale and PhysicsX.
Count and size are different lists
Sequoia and Andreessen Horowitz were in the most rounds. Coatue, Fidelity and T. Rowe Price were in fewer, but bigger ones. A round Fidelity joined averaged $7.7B. One Sequoia joined averaged $3.5B.
Corporates are a third of the room
38% of these rounds had at least one corporate investor, up from 35% a year earlier. NVIDIA is far ahead of the rest. Salesforce was in 32, GV in 29, and AMD in 16.
Track the strategics with the funds
A list of the most active investors in large rounds that leaves out corporates misses one of the top three. If you follow who backs big raises, follow NVIDIA, Salesforce and GV next to the funds.
How this was measured
- 949 venture equity rounds of $100M or more announced between 1 October 2025 and 30 September 2026. 903 of them named at least one investor, and the counts are of those.
- An investor counts once per round, whether it led or joined. We count the investors named in coverage of the round, so a firm that took part without being named is not counted.
- NVentures is NVIDIA's venture arm and a separate investor in our data. The ranking shows NVIDIA on its own. The figure of 79 combines the two and counts each round once.
- Venture equity means rounds into private companies. Debt, grants, IPOs and raises by listed companies are left out. One raise counts once, however many publications covered it.
- The year-earlier comparison covers October 2024 to September 2025 and compares shares rather than counts, because our coverage of that year is thinner.
How to cite
Datahyena, "A chipmaker was in one of every eleven $100M rounds", November 2026. datahyena.com/research/a-chipmaker-was-in-one-of-every-eleven-100m-rounds/
More research
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