The Seed 100: The best early-stage investors of 2026

In the ever-evolving world of technology investment, the Seed 100 list has emerged as a beacon of early-stage venture capital, spotlighting the investors who have a remarkable talent for identifying potential tech giants before they hit the mainstream. The definition of 'seed stage' has transformed significantly in the wake of the AI boom, now encompassing a broader spectrum that includes startups even before they have a viable product, revenue, or a fully established business. This year's list, compiled through rigorous data analysis from Termina, showcases influential investors who are taking bold risks as seed rounds escalate from modest investments to billion-dollar commitments. For instance, Mira Murati's Thinking Machines Lab made headlines with a staggering $2 billion seed round last year, while Yann LeCun's Advanced Machine Intelligence secured $1.03 billion in March. This shift reflects the growing trend of fewer deals below $5 million, with a marked increase in rounds exceeding $10 million, as investors scramble for a piece of the next big opportunity in AI and frontier technology. Among those highlighted is Aileen Lee, founder of Cowboy Ventures, whose investments include notable names such as Dollar Shave Club and Trendyol. Lee emphasizes the importance of backing 'learning animals'—founders who are quick to adapt and innovate. Other prominent figures include Dalton Caldwell, now at Standard Capital, who has guided over 1,000 companies, and Ed Sim, who founded Boldstart Ventures to invest in cybersecurity and AI infrastructure. Investors like Jim Scheinman, CEO of Maven Ventures, and Sam Altman, known for his role at OpenAI, are also making significant strides in the venture capital space. Altman has committed to investing in audacious projects, scouting for opportunities that could yield monumental returns. The Seed 100 not only celebrates these early-stage investors but also serves as a testament to the dynamic landscape of venture capital. With an increasing concentration of capital around a select number of promising startups, the competition is fiercer than ever, promising a thrilling journey for both founders and investors alike as they navigate the next wave of technological innovation.