The Venture Capital Geography Report 2026
Where the 508 most active VC firms are based, and why the San Francisco Bay Area still dominates with 128 of them.
Last updated June 2026. Computed from PipelineRoad's vetted institutional investor and fund-manager data; recomputed on every publish.
Key findings
- The San Francisco Bay Area (San Francisco, Menlo Park, Palo Alto and neighbors) is home to 128 of the 508 most active VC firms, more than any country outside the US.
- San Francisco leads all individual cities with 59 active firms, followed by New York (43) and Menlo Park (33).
- Outside the US, United Kingdom and China lead; Asian hubs (Singapore, Seoul, Tokyo, Beijing) now rival European ones.
- Active firms span 36 countries, a reminder that venture capital, once almost entirely Californian, has globalized.
Most active VC firms by city
Number of active VC firms headquartered in each city.
VC firms by country (top 15)
| # | Country | Active firms |
|---|---|---|
| 1 | United States | 297 |
| 2 | United Kingdom | 39 |
| 3 | China | 24 |
| 4 | Japan | 19 |
| 5 | South Korea | 17 |
| 6 | Canada | 13 |
| 7 | India | 12 |
| 8 | Singapore | 11 |
| 9 | Germany | 11 |
| 10 | France | 11 |
| 11 | Spain | 6 |
| 12 | Hong Kong | 5 |
| 13 | Israel | 5 |
| 14 | The Netherlands | 5 |
| 15 | Australia | 4 |
Methodology
Every figure is computed at build time from PipelineRoad's curated institutional investor directory and fund-manager dataset. Reported assets reflect each entity's most recent disclosure; figures are deduplicated and scoped to asset owners (for LP reports) or active managers (for fund reports). Family-office and net-worth figures are widely reported estimates, not audited AUM. The page recomputes on every publish, so the numbers track the data as it is corrected and expanded.
PipelineRoad, "The Venture Capital Geography Report 2026," June 2026. https://pipelineroad.com/research/venture-capital-geography-report
Frequently asked questions
Where are the most venture capital firms based?
The San Francisco Bay Area leads, with 128 of the 508 most active VC firms PipelineRoad tracks. San Francisco is the single largest city hub with 59 firms.
How global is venture capital?
The most active VC firms span 36 countries, with major hubs in the US, United Kingdom, and across Asia.
Reach these investors
This report runs on PipelineRoad's data. Members get verified decision-maker contacts, current mandates, and live allocation signals, matched to a fund's thesis across 30+ institutional sources.
