Emerging private equity managers

2,619 U.S.-based private equity funds that first sold interests in 2021 or later and have raised under $50 million. The 300 largest are shown.

Fund

First sale

Raised

Investors

Minimum

Offering

Gatsby Xios LLC

Advanced Aerospace Investments LLC

Mountain View, CAEmerging

Investment Solutions Real Estate 2023 Access Fund LP

West Conshohocken, PAEmerging

Cambium Capital Partners III LP

Platform VCS Holdings I, LLC

Kansas City, MOEmerging

CMWA Private Equity 2026 LLC

Beachwood, OHEmerging

StepStone Climate Fund Parallel, LP

Sterling Capital Partners IV, L.P.

Shore Search Partners Fund I, L.P.

Sei IX, LLC

Marina Del Rey, CAEmerging

W-Prime Royal II-A, L.P.

OrbiMed Royalties V Private Investors, LLC

Aep VI LLC

Aea Investors Executive Fund VIII LP

Leon Healthcare Real Estate Fund, LP

Tap Root Capital Fund I LP

Summit, NJEmerging506(c)

Empros Technologies Fund XXXIV, LLC

San Francisco, CAEmerging

SDG Investment Partners, LP

Fort Worth, TXEmerging

CAIS Vista Foundation Fund V, L.P.

New York City, NYEmerging

Grandview Partners Fund I, LP

Neuberger PSG PRIMA X LP

Empros Technologies Fund XLVII, LLC

San Francisco, CAEmerging

Tinicum Employees L.P.

AAC Five LLC

Alliance Logistics Fund I, LP

Sweco Investors, LLC

FPG Ad Astra XIII, LP

Concord Innovation Fund III, LP

iCapital-Sixth Street Sports & Live Entertainment Access Fund, L.P.

Francisco Partners Access Fund LP

West Conshohocken, PAEmerging

North Point Investment Fund, L.P.

New Canaan, CTEmerging

Fractal Agriculture Regenerative Management Fund LP

San Francisco, CAEmerging

JSL Health Capital Opportunity Fund, L.P.

Rubric BSR Fund LLC

AI Innovation Fund II LLC

Mountain View, CAEmerging

Oaktree Opportunities XII iCapital Offshore Access Fund, L.P.

Okeanos Debut, LP

S2 Real Assets Fund, LP

Salt Lake City, UTEmerging

NEXT Investors Fund III-B, LP

Fairtide Tax Equity Fund LP

Menlo Park, CAEmerging

PPB Millennium Offshore Access Fund

West Conshohocken, PAEmerging

Kimmeridge Carbon Solutions II, LP

New York, NYEmerging506(c)

IEQ Capital Access Fund - Sawgrass Investment, L.P.

Flagship Capital Partners Strategic Real Estate Capital Fund LP

Walnut Creek, CAEmerging

Okeanos Space Fund 180, LLC

Tabernacle Equity LP

Southlake, TXEmerging

HBK Opportunities Platform L.P., on behalf of, CV Strategies Series

TPG Rise Climate II-X Cayman, L.P.

Fort Worth, TXEmerging506(c)

TPG Rise Climate II-X, L.P.

Fort Worth, TXEmerging506(c)

Ccnas Fund B Cv, LP

OnePrime Opportunity Fund IX, LP

Palo Alto, CAEmerging

Park Hollow Capital Credit Fund II LP

CMWA Private Opportunities IV LLC

Beachwood, OHEmerging

Audax Direct Lending Solutions Fund III-C, L.P.

CAP VI Feeder, L.P.

Washington, DCEmerging

NB Secondary Opportunities VI Access Fund (Offshore), L.P.

EnTrust Global Opportunistic Credit Fund I Ltd

Battery Ventures XV-EF, L.P.

Lincolnshire Equity Fund VI-A, L.P.

Segra XE 2, LP

Palm Beach, FLEmerging

Soundcore Capital Partners Fund III-A, LP

Velocis Secondary Partners IV, LP

Ckcm25 II LP

Solana Beach, CAEmerging

Asia Alternatives Secondaries Top-Up, LP

San Francisco, CAEmerging

Centex Luna Rosa, LP

SKKY Partners Fund I-A, LP

Boston, MAEmerging506(c)

SKKY Partners Fund I, LP

Boston, MAEmerging506(c)

Siguler Guff Small Business Rural Investment Fund, LP

Vine Wonderful Opportunity II LLC

Blackstone Waypoint Feeder Fund LP

ActiveProspect Five Elms, L.P.

Kansas City, MOEmerging

LuminArx Tholos Onshore Fund LP

Napier Park Enhanced Senior CLO Equity Fund (Cayman) LP

Artisan Maker Holdings, LLC

Walnut Creek, CAEmerging

Global Impact Opportunities III, LP

Olive Partners Flagship Fund I, LP

Palo Alto, CAEmerging

Capital Constellation AS L.P.

New York, NYEmerging506(c)

EWM Private Equity Access I, L.P.

TRG Nbs LP

CAIS ICG LP Secondaries Fund II, L.P.

New York City, NYEmerging

Operose Capital Private Equity I, LP

Milwaukee, WIEmerging

Terramont Infrastructure Opportunities Fund II (Cayman), L.P.

GCOF IV Private Investors, LLC

Caprock Real Estate Opportunities I LP

West Conshohocken, PAEmerging

Emerald Lake CR Acquisition-A, L.P.

Santa Monica, CAEmerging

Emerald Lake CR Acquisition, L.P.

Santa Monica, CAEmerging

Joma Fund LLC

Reverence Capital Partners Real Estate Solutions Fund I (Fund VII), L.P.

Lind Global Fund III LP

Nimble Partners Opportunities Offshore Fund II, LP

San Francisco, CAEmerging

LoftyInc Alpha Fund, LLC

Layla Fund II, LP

Boca Raton, FLEmerging

3Spoke Liquidity Partners, LP

Chatham Investment Fund VI QP, L.P.

PE Premier ASF IX Offshore Feeder LP

CAZ Professional Sports Ownership Fund III - Touchdown, L.P.

StepStone Micro Growth Equity Partners V (Cayman) LP

Owings Mills, MDEmerging

Cresta Sustainable Fund II a LP

Dallas, TXEmerging506(c)

Cresta Sustainable Fund II LP

Dallas, TXEmerging506(c)

TPG Emerging Companies Asia Equity, L.P.

Fort Worth, TXEmerging

TPG Emerging Companies Asia (C), L.P.

Fort Worth, TXEmerging

G4 Capital Partners VI, LP

Fidelity Private Equity Multi-Strategy Fund III LP - Offshore

Acn5 LLC

Elevate NewCo 3, LP

Catalio Nexus Offshore Fund IV, LP

Karmel AI Fund LP

Solana Beach, CAEmerging

Stork Infrastructure Partners LLC

Cannon Field Minerals Fund III LP

Simha Partners I, LP

Thorium SOF II Valon, LP

San Francisco, CAEmerging

iCapital-KKR North America XIV Access Fund, L.P.

Clarion CLO Opportunity Feeder Fund III, LP

Forte Velocity Partners I, LP

IEQ Capital Access Fund - 137 Ventures Opportunity, L.P.

Peak Rock Capital Credit Fund III-A LP

Magnetar Opportunity 2025-2 LP

TCV Global Growth Access Fund XIII (Offshore), L.P.

Northlight Fund IV L.P.

WAVE Equity Fund III LP

PE Sapphire Ventures VII Onshore Feeder Fund L.P.

WPH Go, LP

Summit House Credit Opportunities Fund III, L.P.

Dallas, TXEmerging506(c)

Investment Solutions Sound Ventures 2024 Access Fund LP

West Conshohocken, PAEmerging

Summit House Credit Fund, L.P.

Dallas, TXEmerging506(c)

AI Innovation Fund VI LLC

Mountain View, CAEmerging

D1 Runway Holdings LP

FSTK Fr LP

Solana Beach, CAEmerging

PO&G Resources Fund II, LP

Summit House Credit Opportunities Fund II LP

Dallas, TXEmerging506(c)

Lewis & Clark AgriFood Fund III, LP

St. Louis, MOEmerging

Flint Hills Credit Opportunities V L.P.

Kansas City, MOEmerging

Independent Access Partners Infrastructure Fund I, LLC

Hunt Valley, MDEmerging

Cantilever Capital LP

Halle PassCo Holdings LLC

MW Buyout Executive Fund VI, LLC

Milwaukee, WIEmerging

Magnetar Opportunity 2025-4 LP

Artesian, LLC

TPG RC II Private Investors, LLC

New York, NYEmerging506(c)

Sustainable Infrastructure Fund IV, LP

EnCap Energy 2024 Access Fund LP

West Conshohocken, PAEmerging

METI TE Feeder, L.P.

iCapital-Sands Capital Global Innovation III Access Fund, L.P.

New York, NYEmerging506(c)

iCapital-PIMCO COF IV Onshore Access Fund, L.P.

Penstock Equity II LP

Birmingham, MIEmerging

Private Opportunistic Assets II - Tax-Exempt, LP

TPG Partners X Private Investors Offshore L.P.

Green Sands One LP

HarbourVest Access - 2025 Global Fund Cayman LLC

CAIS KKR North America Fund XIV, L.P.

GMP Pronto, LP

GCW Access - Y Combinator, L.P.

Palo Alto, CAEmerging

GMP McGee, LP

Ckcm25 I LP

Solana Beach, CAEmerging

PQ a16z Access Fund, L.P.

Palo Alto, CAEmerging

Hirtle Callaghan Private Equity Fund 2024 (A), L.P.

West Conshohocken, PAEmerging

Monticelloam Funding LLC Series Sh-94

New York, NYEmerging506(c)

HG Vora Opportunistic Capital Fund III B Rated Feeder LP

EQSRV Fund LP

Granite Premier GP Fund, LP

Glade Brook Private Investors LXIII LP

Greenwich, CTEmerging

AI Innovation Fund VII LLC

Mountain View, CAEmerging

Montgomery Capital Partners V, LP

GCW Access - KP XXII & Select IV, L.P.

Palo Alto, CAEmerging

Blue Atlantic Partners IV ESAS U.S. Feeder, LP

Alpha Wave Partners, LLC

Miami Beach, FLEmerging

Arc Capital Partners Fund II LP

Los Angeles, CAEmerging

QFD Investor, L.P.

PAM Feeder Fund (A designated series of Glide Direct Series, LLC, a Delware series ltd. liability company)

HarbourVest Direct Lending II (LR) Fund L.P.

Arc70 Strategic Opportunities IV LLC

Burlingame, CAEmerging

MonticelloAM Funding SH-77 LLC

Lion 12 LP

Beverly Hills, CAEmerging

GQG Private Capital Solutions Fund Intermediary (US) I, LLC

Tacoma, WAEmerging506(c)

Orion Private Equity Partners Fund LP

West Conshohocken, PAEmerging

BridgeInvest Credit Fund V LP

Miami, FLEmerging506(c)

PIMCO Aviation Income Partners II Offshore Feeder, L.P.

Newport Beach, CAEmerging

Summation Capital Fund, L.P.

CH 234 Leasing LLC

Boca Raton, FLEmerging

Bay Point Credit Opportunities SBIC Fund I, LP

Sciens Water Treatment Partners LP

Neptune InvestCo, LLC

Kiva Refugee Investment Fund II, LLC

San Francisco, CAEmerging

BW M-Labs LP

Council Oaks Partners Fund I-A, LP

Peak Rock Capital Credit Fund III-B Nus LP

Kateri Real Estate Income Fund LP

Centerbridge Capital Partners V Access Fund, L.P.

StepStone Micro Growth Equity Partners V LP

Owings Mills, MDEmerging

Cirrus Oil & Gas Fund I LP

Ares Credit Acquisition Fund 10 Stellar LP

West Hartford, CTEmerging

DP Long-Duration Income Fund 2026 LP

GQG Private Capital Solutions Fund (Cayman), LP

Tacoma, WAEmerging506(c)

Radnor Equity Partners, L.P.

New York City, NYEmerging

HHC Wealth I-A, LP

Washington Harbour AI Pilot LLC

Arlington, VAEmerging

CAZ Secondary Opportunities Fund, L.P.

CAZ Diversified Private Investments Class D Fund - TE, L.P.

Sciens Water Opportunities Fund VI Segregated LP

Marauder Fund I, LP

Fort Worth, TXEmerging

Carver Road Fund I LP

Las Vegas, NVEmerging

Rohati Private Strategies I, L.P.

Palo Alto, CAEmerging

WH Strategic Opportunities Fund IV LP

Arlington, VAEmerging

Peak Rock Capital Credit Fund III Nus LP

Carob Financial L.P.

Sciens Water Opportunities Fund IV Segregated LP

Alta Point Capital Fund I, LP

Palo Alto, CAEmerging

iCapital-FP Credit Partners III Access Fund, L.P.

3B International Holdings, LLC

Walnut Creek, CAEmerging

William Warren Group Self Storage Income In-Kind Fund, L.P.

Santa Monica, CAEmerging506(c)

Washington Harbour AI LLC

Arlington, VAEmerging

GPIF Tryon Park Hotel Partners, LP

Fort Worth, TXEmerging

Emov, LLC

OneWell LMM PE Fund I, LP

North Bethesda, MDEmerging

Marathon Pacesetter High-Yield Fund, L.P.

Maslow Income Bridge Fund LP

West Conshohocken, PAEmerging

Riverside Resources Holdings IV, LP

Private AI Investments V LLC

Mountain View, CAEmerging

CAIS Blue Owl GP Stakes VI, L.P.

New York City, NYEmerging

Watermark Strategic Partners, LP

Jupiter Topco LLC

FT Select I LLC

AMC US Regional Depository Fund LP

Fort Washington Private Equity Opportunities Fund V-K, L.P.

Cincinnati, OHEmerging

Heritage Unity Fund, LP

San Antonio, TXEmerging

Farol Fund III, LP

Empros Technologies Fund XLI, LLC

Beverly Hills, CAEmerging

Franklin Stratos, L.P.

San Mateo, CAEmerging

Climate Adaptive Infrastructure Fund II LP

Mill Valley, CAEmerging

L Catterton Vintage Fund, L.P.

Greenwich, CTEmerging

Private Equity IX - Buyouts, LP

Oaktree Special Situations IV iCapital Onshore Access Fund, L.P.

CPI Capital Services Fund I LP

Palladium Heritage Fund, L.P.

Kain Eah, LP

iCapital-Lexington Capital Partners XI Access Fund, L.P.

Velocis Industrial Fund II, LP

Callodine Strategic Credit Fund III, LP

OrbiMed Royalty & Credit Opportunities Access Fund V LP

West Conshohocken, PAEmerging

Eagle Point Defensive Income Fund III Non-US LP

Greenwich, CTEmerging

Greylane, LLC

Season Investments Alternative Credit & Equity Fund, L.P.

West Conshohocken, PAEmerging

Wellington Growth Lending Opportunities Fund I, L.P.

Sovereign's Capital Clear, LP

KORE Private Credit Fund II, L.P.

CF Venture Direct Opportunities III, L.P.

SSIB Fund I LP

Ann Arbor, MIEmerging

iCapital Thoma Bravo Credit Fund II, L.P.

HCM ST, LLC (Series B)

Oak Brook, ILEmerging

XN Opportunities VI LP

William Warren Group Self Storage Income Fund, L.P.

Santa Monica, CAEmerging506(c)

SEP IX Associates, LLC

Marina Del Rey, CAEmerging

Mpof 2024, LP

Kansas City, MOEmerging

PE Premier Wellington Hadley Harbor Partners IV Offshore Feeder L.P.

MarcyPen Opportunities Fund II-B LP

Beverly Hills, CAEmerging

BroadOak Income Fund, L.P.

iCapital-Menlo Ventures AI & Inflection Access Fund, L.P.

HTPW FROF II Access Fund, LP

West Conshohocken, PAEmerging

Glade Brook Private Investors XXXIV LP

Greenwich, CTEmerging

Taconic European Credit Dislocation Fund IV L.P.

VRM Penzini Fund I LLC New VRM Holdings Series

GPIF Colonnade Office Partners, LP

Fort Worth, TXEmerging

GCM Grosvenor Private Equity Partners Feeder III, L.P.

Bando Fund LLC

Pacd-Cpe III 2026

WH Strategic Opportunities Fund V LP

Arlington, VAEmerging

Capital Dynamics Mid-Market Direct VI (US) LP

LCN NA Fund IV-D, L.P.

Heritage Search Partners 2, LP

Chicago Pacific Founders Pet Fund - Off Leash Capital, L.P.

GCM Grosvenor Private Equity Partners III, L.P.

Resonant Strategic Income Fund III, LP

MSI InvestCo, LLC

Sciens Water Opportunities Fund V Segregated LP

DIMA GP Insight Fund, LP

Pittsburgh, PAEmerging

iCapital-Clearlake Capital Partners VIII (Offshore) Access Fund, L.P.

New York,, NYEmerging

Wasatch Kaikani Investors, LLC

Matter Healthcare Credit 2026, L.P.

New York City, NYEmerging

Regent Street Partners Fund 2026, LLC

CAZ DFG Diversified Fund, L.P. - Vintage I Portfolio

GEC Holdco LLC

Birmingham, MIEmerging

Westwood Energy Secondaries Fund I, LLC

Stirling Heights, L.P.

LKCM Headwater CV I Minerals, L.P.

Fort Worth, TXEmerging

Thunder R&A Investco LLC

Jacksonville Beach, FLEmerging

Brown Advisory Investors 2026 - Venture Capital Feeder Fund - T, LLLP

Baltimore, MDEmerging

Corrum Capital Aof I-B LP

Charlotte, NCEmerging

SPRIG Equity Fund I, L.P.

GBT Opportunities Fund, L.P.

Brentwood, TNEmerging

BCG Real Estate Growth & Income Fund 5, LP

Edmond, OKEmerging506(c)

TRP Fund III Co LP

FDC Investment Partners VIII, L.P.

New York City, NYEmerging

PV Staco Holdings, LLC

Kansas City, MOEmerging

Duration Transportation Infrastructure Capital Partners (Parallel 2), L.P.

New York, NYEmerging506(c)

AlphaKeys General Atlantic Investment Partners 2025, L.P.

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