Top 50 Funds That Lead Pre-Seeds

Our Top 50 Funds That Lead Pre-Seeds shines a light on the firms doing this work today. These are the investors stepping in with $100K–$3M checks, mentoring founders from zero to one, and creating the conditions where category-defining companies can emerge.

What Stands Out in This Year’s List

Pre-seed is now a strategy, not an accident.

Ten years ago, pre-seed barely existed as a stage. Today, dedicated funds like Afore Capital and Worklife are structured entirely around leading the first institutional round. Their size may be modest ($13M–$20M), but their focus is sharp: write the first check and get deeply involved.

Operator-led firms are raising the bar.

Funds such as Primary Venture Partners (New York) and Mucker Capital (Los Angeles) have GPs who’ve built and scaled companies themselves. They don’t just invest, they embed. From go-to-market playbooks to recruiting early teams, their edge lies in practical experience.

AI is the gravitational center of this cycle.

It’s hard to ignore the rise of specialized AI funds. Gradient Ventures, backed by Google, and 2048 Ventures, with its frontier tech focus, are setting a new bar for technical due diligence. Even multi-sector firms like NFX and SignalFire are leaning heavily on data infrastructure to source the next AI breakout before anyone else sees it.

Purpose-driven theses are no longer niche.

Pre-seed capital is also flowing into sustainability and social impact. TMV is backing founders in mobility, logistics, and sustainability, while Conscience VC explicitly aligns with mission-driven startups. These firms prove that pre-seed can deliver returns while addressing global challenges.

Big funds are playing small.

It’s not just boutique managers. Large platforms like General Catalyst and Greycroft are dipping down to lead pre-seeds, while global players like Global Founders Capital are writing $500K–$1M checks across 40+ countries. The competitive pressure at this stage is real.

Why Founders Should Care

• Clarity on first checks: Some firms won’t lead until Series A. This database cuts through the noise, spotlighting who actually leads at pre-seed.
• Sector fit matters: Whether you’re building in fintech (Deciens, Afore Capital), SaaS (Array Ventures, Active Capital), or consumer (Freestyle, Pear VC, Cowboy Ventures), knowing the right lead investor saves time.
• Partnership over capital: These funds offer more than money. From Brianne Kimmel’s Worklife shaping the future of work, to Alexis Ohanian’s Seven Seven Six focusing on cultural relevance, they position themselves as long-term partners.

The Bigger Picture

Pre-seed has matured into a distinct asset class. Fund sizes range from $13M to $1B+, net IRRs hover around 14–25%, and successful portfolios often return 3×–10× multiples. For LPs, this stage is no longer “too early”, it’s where tomorrow’s winners are seeded.

Explore the full Top 50 Funds That Lead Pre-Seeds database to dive into fund theses, check sizes, key partners, and sector specializations. If you’re raising or tracking pre-seed, this is your roadmap.