Top US Investors in May 2025: Khosla Ventures and Accel Lead the Pack
May saw a surge in venture funding, with Khosla Ventures and Accel each participating in 12 deals, marking them as the most active US investors for the month.
May 2025: A Busy Month for US Investors
In May 2025, US investors were highly active in the venture capital space, with several firms leading the charge in funding rounds. Notably, Khosla Ventures and Accel each participated in 12 deals, making them the most active US investors during this period.
Khosla Ventures: A Strong Presence in May
Khosla Ventures, based in Silicon Valley, continued its momentum from April, where it was the second most active investor. In May, the firm backed 12 rounds, including a $350 million Series C for ClickHouse, a $130 million Series B for NewLimit, and an $85 million Series A for Stylus Medicine. These investments spanned sectors such as AI, healthcare, and biotechnology.
Accel: Diverse Investments Across Sectors
Accel also demonstrated significant activity in May, participating in 12 funding rounds. The firm’s notable investments included a $900 million Series C for Anysphere, a $600 million financing for Wonder, and a $500 million investment in Perplexity. Accel’s involvement covered a range of industries, from AI and food delivery to generative AI platforms.
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General Catalyst and Thrive Capital: High-Value Deals
General Catalyst and Thrive Capital emerged as the top spenders among lead investors in May. General Catalyst led a $1 billion financing for Grammarly, focusing on a revenue-sharing model rather than equity. Thrive Capital led Anysphere’s $900 million round and participated in Neuralink’s $650 million financing, showcasing its strong presence in the venture capital landscape.
Other Notable Investors
Other firms also made significant contributions in May. General Catalyst and Andreessen Horowitz each participated in 10 deals, tying for the third most active investor. Accel led the deal count among lead investors with five investments, followed by Sequoia Capital, Insight Partners, and General Catalyst with four each. Additionally, Y Combinator maintained its position as the top investing incubator and accelerator, supporting 20 startups during the month.