Index Ventures raises $2B to support startups across sectors, signaling where smart money is actually flowing

Index Ventures just closed $2 billion in fresh capital, split across three funds designed to back startups from their earliest days through growth-stage scaling.

The London and San Francisco-based firm structured the capital across a $900 million venture fund, a $400 million seed fund, and a $700 million extension of its 2024 growth fund.

A firm that keeps raising in a tough market

This fundraise comes barely a year after Index closed $2.3 billion in July 2024, which itself was split between an $800 million venture fund and a $1.5 billion growth fund.

Index has now raised over $15 billion since its founding. More than 100 of its portfolio companies have reached unicorn status, crossing the $1 billion valuation threshold. Its early bets on cybersecurity firm Wiz and fintech giant Revolut are among its notable investments.

What this means for crypto and digital assets

Index Ventures’ $2 billion raise contains no allocations specifically directed toward digital assets or cryptocurrencies.

Firms like a16z, Paradigm, and Polychain continue to deploy capital into the space. But the generalist megafunds have largely pulled back to their core competencies, meaning crypto startups looking for venture backing are fishing in a smaller pond of specialist crypto funds rather than the broader VC ecosystem.

What investors should actually watch

The $2 billion flowing into Index’s new funds will likely find its way into AI, enterprise software, cybersecurity, and fintech startups — sectors that compete with crypto for engineering talent and investor attention.

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