Index Ventures raises $2B across three funds after Wiz payout

Index Ventures has raised $2 billion in fresh capital across three funds, the firm announced on Friday. The 30-year-old venture firm raised $400 million for a new seed-focused fund and $900 million for its venture fund, and it added $700 million to a $1.5 billion growth fund it raised in 2024. That brings Index’s total available capital to $3.5 billion, split across a fresh seed vehicle, a larger venture-stage fund, and the enlarged growth fund.

The fresh haul comes two years after Index raised $2.3 billion across two funds, including $800 million toward a predecessor venture fund. Unlike several other venture firms, Index has refrained from ballooning its fund sizes between cycles, and the firm continues to stand out for its strong recent performance.

That performance has been driven in part by one standout exit. Earlier this year, Index portfolio company Wiz completed its $32 billion sale to Alphabet. Index first invested in Wiz at the seed stage and became its largest outside shareholder, holding a 12% stake likely worth $3.8 billion, according to Reuters’ reporting. Index was also an early investor in Figma, which went public last year.

On the AI side, Index’s bets include the robotics company Physical Intelligence, the inference platform Fireworks AI, and Anthropic, the AI model maker. Index’s investment in Anthropic was made when the company raised capital at a $183 billion valuation last September.

Why it matters

Index’s ability to raise fresh capital without ballooning its fund sizes, on the back of the Wiz exit, suggests disciplined, performance-led fundraising still commands investor confidence even as many other venture firms chase ever-larger funds.