The Top 10 Venture Capital Firms in 2020

The most active venture capital firms of 2020 based on number of deals.

Above: The most active venture capital firms of 2020 based on number of deals.

Despite the stresses on the economy caused by the pandemic, 2020 was an outstanding year for venture capital. Startups raised a record $300 billion over the course of the year. The best firms took advantage of a slower economy, deploying capital at more favorable terms.

So, who were the top venture firms last year? There are many ways to define “top”. If you are a limited partner in one of these funds, you would probably care most about the rate of return. But of course, you can’t judge a VC’s activity over the course of the year contemporaneously. Investments take at least a decade to prove themselves, so returns in Year 1 don’t really paint a good picture. How do the professionals — venture capitalists, founders, and operators — then judge a year’s work? Venture capital is a volume game and so we’ll look at the firms who were most active and participated in the most deals.

The 10 top venture capital firms in 2020, ordered by number of deals:

1. Sequoia

2. Accel

3. Andreessen Horowitz & Lightspeed

Lightspeed Venture Partners also made a total of 51 deals in 2020. Lightspeed wins amongst this list for the best returns in the same year by taking part in Affirm’s Series G for $500 million. This was announced in September, and Affirm went public in January of 2021. The company doubled on IPO day, even after delaying the IPO to raise price targets!

5. Insight

6. General Catalyst & Index

General Catalyst got a lot busier this year, moving up from 30 deals in 2019. They led the round in Cityblock health for $160 million, their biggest bet of 2020.

Index Ventures also got modestly more active, up from 40 rounds last year. They participated in Revolut’s $500 million series D, their largest check.

8. Greycroft

9. GV (Google Ventures)

10. Bessemer

This data was put together with the VC Deals App. To explore the data further, check it out!

Originally published at https://vc.deals.

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