VC Funds by Check Size

We use the total offering amount from SEC Form D filings as a proxy for fund size, then divide by an estimated portfolio count to approximate the per-company check size. For funds with multiple filings, we use the most recent one to reflect current deployment strategy.

For a pre-seed round of $500K–$1.5M, look for investors writing checks in the $100K–$500K range. Micro-VCs and angel syndicates in the "Under $500K" bucket are purpose-built for this stage. Leading your entire round from a single investor is possible but uncommon — expect to bring together 3–8 investors.

Yes, but it often signals either a scout check (to get access before a larger follow-on), an accelerator investment, or a program outside their core strategy. Verify whether the check is from the main fund or a side vehicle, and confirm they have pro-rata rights and intend to follow on.

No. Fund size is the total capital raised by the fund from LPs. Check size is the per-company investment. Most VCs follow a rough rule that no single investment exceeds 5–10% of the fund, so a $50M fund typically writes $2.5M–$5M checks. However, lead rounds can be larger and follow-on reserves can distort this.

Check sizes evolve with each fund generation. As a firm raises a larger successor fund, their average deal size typically increases. Always look at the filing date alongside the offering amount to understand the current strategy rather than relying on historical data.