The authors introduce a data-driven ranking of the top 100 U.S.-based VC firms, built from more than 230,000 investments by nearly 13,000 venture capitalists over 30 years. The piece shows how concentrated venture outcomes remain, with Sequoia leading the list, AI rapidly reshaping the top deals, and California still dominating the institutional core of venture capital.
The 2026 Strebulaev-Jackson Venture Ranking: Complete Top 100 VC Firms
Jeran Wittenstein
Research
16 Pages
Key Takeaways
Power law persists: Sequoia scored 10,158 points versus 245 for rank 100, making the top firm about 41x larger.
AI reshapes rankings: Frontier AI or AI infrastructure companies were the top deal for 23 of the 100 ranked firms.
California dominates: 62 of the top 100 firms are headquartered in California, versus 19 in New York and six each in Massachusetts and Texas.