Before we get into today’s list, here’s a quick primer on why it matters.
VCs don’t invest their own money.
They raise it from LPs (Limited Partners), who are usually high-net-worth individuals (HNIs) who park their capital with a fund that specializes in backing startups.
The VC then deploys that money into startups, and once those startups exit, the returns flow back to the LPs, minus a cut for the fund.
How does it matter to you?
A VC that just closed a new fund behaves a lot like a startup that just raised a round. A startup with fresh capital hires faster. A VC with fresh capital deploys faster.
Translation: the weeks right after a fund closes are often your best shot at a fast yes. The fund is under pressure to put that money to work, and decisions move quicker than usual.
That’s exactly why today’s list matters.
We’re skipping the mega-funds like the Sequoias and a16zs of the world & going straight to something more useful: 1
5 boutique and emerging-manager funds that have closed fresh early-stage capital this year. For each one, you’ll get their focus area, standout portfolio bets, and typical cheque size.
Let’s get into it 👇
1. Haystack
2026 Fund Raised: $85 Million
Average Check Size: $500,000 – $1.5 Million
Sector Focus: Pre-seed and seed enterprise SaaS, developer tools, and data infrastructure.
Notable Portfolio Companies: DoorDash, HashiCorp.
Refactor Capital
2026 Fund Raised: $50 Million (Fund V)
Average Check Size: $500,000 – $1 Million
Sector Focus: Seed-stage bioengineering, climate tech, and foundational health infrastructure.
Notable Portfolio Companies: Solugen, PathAI.
Cantos
2026 Fund Raised: $70 Million
Average Check Size: $400,000 – $1 Million
Sector Focus: Pre-seed near-frontier technology across defense, deep tech, and space infrastructure.
Notable Portfolio Companies: Venus Aerospace, Radiant Nuclear.
Credo Ventures
2026 Fund Raised: €74 Million+ (Fund V)
Average Check Size: €300,000 – €1.5 Million
Sector Focus: Agnostic pre-seed and seed supporting global-first founders across Central & Eastern Europe.
Notable Portfolio Companies: UiPath, ElevenLabs.
Inflexor Ventures
2026 Fund Raised: $131 million target / $42 million first close
Average Check Size: $1 Million – $3 Million
Sector Focus: Seed and pre-seed deep tech, advanced manufacturing, and engineering-led IP software.
Notable Portfolio Companies: Atomberg, Steradian Semiconductors.
Odyssey Ventures
2026 Fund Raised: £10 million institutional cornerstone (Odyssey Discovery I)
Average Check Size: £250,000 – £750,000
Sector Focus: Pre-seed transatlantic bridge for AI, robotics, and UK-based deep tech going global.
Notable Portfolio Companies: Wayve, ElevenLabs.
Eka Ventures
2026 Fund Raised: £80 Million
Average Check Size: £500,000 – £1.5 Million
Sector Focus: Early-stage consumer technology, digital health, and sustainable enterprise transformation.
Notable Portfolio Companies: Urban Jungle, Hapi Plan.
Collide Capital
2026 Fund Raised: $95 Million
Average Check Size: $750,000 – $1.5 Million
Sector Focus: Seed supply chain, infrastructure software, and inclusive future of work tools.
Notable Portfolio Companies: Gable, Starship Delivery
Vermilion Cliffs Ventures
2026 Fund Raised: $25 Million
Average Check Size: $250,000 – $500,000
Sector Focus: Pure pre-seed investments in AI application layers, enterprise SaaS, and B2B cybersecurity.
Notable Portfolio Companies: Cyera, Secureframe.
Wisdom Ventures
2026 Fund Raised: $77.7 Million (Fund II)
Average Check Size: $250,000 – $600,000
Sector Focus: Pre-seed wellness platforms, inclusive digital mental health, and connection tech.
Notable Portfolio Companies: Real, Noula Health.
Expeditions
2026 Fund Raised: $218 Million
Average Check Size: $1.5 Million – $4 Million
Sector Focus: Seed-stage national security, hardware infrastructure, and deep defense technology.
Notable Portfolio Companies: Shield AI, Vannevar Labs.
Worldbuild
2026 Fund Raised: $30 Million (Fund I)
Average Check Size: $400,000 – $800,000
Sector Focus: Day-zero and seed physical supply chain, global construction tech, and B2B industrial software.
Notable Portfolio Companies: Built Technologies, Toggl.
Weekend Fund
2026 Fund Raised: $25 Million (Fund IV)
Average Check Size: $100,000 – $300,000
Sector Focus: Generalist pre-seed backing product-led consumer social, developer tooling, and remote infrastructure.
Notable Portfolio Companies: Deel, Voiceflow.
Empirical Ventures
2026 Fund Raised: £10 Million
Average Check Size: £150,000 – £350,000
Sector Focus: Spin-out pre-seed deep tech, advanced chemistry, quantum systems, and material sciences.
Notable Portfolio Companies: Delta g, Basecamp Research.
Nomi Capital
2026 Fund Raised: $50 Million (Defense Fund I)
Average Check Size: $500,000 – $1.2 Million
Sector Focus: Seed dual-use technology, situational awareness, and sovereign drone manufacturing infrastructure.
Notable Portfolio Companies: Skydio, Anduril.
If you found the list useful, try The Investor Fit Finder by The VC Lens.
40k + active investors, filtered to the ones that actually back companies at your stage, in your sector, in your geography, at your check size. Ranked by who closes.
Until Next Time,
Sayanee Bhowmik
Ex-VC | Founder, The VC Lens
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