Online marketplaces dominate venture portfolios in 2025. Of the $5 trillion global digital commerce market, $3 trillion comes from marketplaces alone.
The best returns come from network effects. Uber valued at $101B. Airbnb transformed travel. DoorDash redefined local commerce.
Specialized marketplace funds emerge. Generalist VCs dedicate partners. Strategic investors seek platform opportunities.
This guide lists 40+ active marketplace investors. Investment ranges, portfolio focus, direct contacts.
Track marketplace investor interest
Platform built. Supply side growing. Early demand validated.
Yet marketplace investors stay silent.
PDFs disappear in inboxes. No visibility on engagement. Can't track partner interest.
Ellty changes that. See exactly how investors review your marketplace pitch. Know when they forward to network effects experts.
Marketplace investors
1. Marketplace Capital
First dedicated marketplace-only fund.
Investment focus: All marketplace types, marketplace stack tools
Investment range: Pre-seed to seed, $100K-$250K+
Notable investments: Berry Street, portfolio of marketplace founders
Contact: marketplacecapital.com
2. FJ Labs
Most active marketplace investor globally.
Investment focus: Consumer and B2B marketplaces, network effects
Investment range: Pre-seed to Series B, $50K-$5M
Notable investments: 600+ marketplace investments
Contact: fjlabs.com
3. Andreessen Horowitz (a16z)
Major fund with dedicated marketplace partner (Andrew Chen).
Investment focus: Consumer marketplaces, network effect businesses
Investment range: Seed to growth, $500K+
Notable investments: Airbnb, Instacart, Lime
Contact: a16z.com
4. NFX
Network effects specialists.
Investment focus: Marketplace businesses with strong network effects
Investment range: Pre-seed to Series A, $100K-$4M
Notable investments: Lyft, Trulia, marketplace platforms
Contact: nfx.com
5. Greylock Partners
Early marketplace investor with proven track record.
Investment focus: Consumer and B2B marketplaces
Investment range: Seed to Series A, $1M-$10M
Notable investments: Airbnb, LinkedIn, Nextdoor
Contact: greylock.com
6. Speedinvest Marketplaces
European marketplace specialist.
Investment focus: European marketplaces across verticals
Investment range: Pre-seed to Series A, €500K-€3M
Notable investments: GoStudent, konfetti, Raus
Contact: speedinvest.com/marketplaces
7. Accel
Global VC with strong marketplace portfolio.
Investment focus: Early and growth stage marketplaces
Investment range: Series A+, $5M-$100M
Notable investments: Etsy, Spotify, StubHub
Contact: accel.com
8. Bessemer Venture Partners
Long history of marketplace investing.
Investment focus: Consumer and enterprise marketplaces
Investment range: Seed to growth
Notable investments: Pinterest, Twitch, Fiverr
Contact: bvp.com
9. Version One Ventures
Canadian fund with marketplace expertise.
Investment focus: Consumer marketplaces, SaaS-enabled marketplaces
Investment range: Seed, $1M typical
Notable investments: Canadian marketplace leaders
Contact: versionone.vc
10. Benchmark Capital
Selective investor with marketplace wins.
Investment focus: Category-defining marketplaces
Investment range: Series A lead, $10M-$25M
Notable investments: Uber, Grubhub, eBay
Contact: benchmark.com
11. Index Ventures
Transatlantic firm backing marketplace leaders.
Investment focus: Global marketplace opportunities
Investment range: Seed to growth
Notable investments: Etsy, Deliveroo, Farfetch
Contact: indexventures.com
12. Craft Ventures
David Sacks' fund with marketplace focus.
Investment focus: B2B and vertical marketplaces
Investment range: Seed to Series A, $500K-$5M
Notable investments: Bird, Harbor, marketplaces
Contact: craftventures.com
13. Union Square Ventures
NYC firm with marketplace DNA.
Investment focus: Network businesses, marketplaces
Investment range: Seed to Series B
Notable investments: Etsy, Kickstarter, Lending Club
Contact: usv.com
14. Insight Partners
Growth investor in marketplace scale-ups.
Investment focus: B2B and vertical marketplaces
Investment range: Series B+, $10M-$200M
Notable investments: Alibaba, Vinted, marketplace leaders
Contact: insightpartners.com
15. Y Combinator
Top accelerator for marketplace startups.
Investment focus: All marketplace types
Investment range: $500K for 7%
Notable investments: Airbnb, DoorDash, Instacart
Contact: ycombinator.com
16. Adevinta Ventures
Strategic investor from classifieds leader.
Investment focus: Sustainable commerce, online marketplaces
Investment range: Early stage strategic investments
Notable investments: 25+ digital marketplaces
Contact: adevinta.com/ventures
17. Battery Ventures
Multi-stage investor in marketplace platforms.
Investment focus: B2B and B2C marketplaces
Investment range: Series A to growth
Notable investments: Wayfair, Glassdoor, Groupon
Contact: battery.com
18. Lightspeed Venture Partners
Global VC with marketplace expertise.
Investment focus: Consumer and enterprise marketplaces
Investment range: Early to growth stage
Notable investments: Honest Company, Stitch Fix
Contact: lsvp.com
19. General Catalyst
Cross-stage investor in transformative marketplaces.
Investment focus: Healthcare, fintech, consumer marketplaces
Investment range: Seed to growth
Notable investments: Airbnb, Kayak, ClassPass
Contact: generalcatalyst.com
20. Sequoia Capital
Legendary firm backing marketplace giants.
Investment focus: Category-creating marketplaces
Investment range: Seed to growth
Notable investments: Airbnb, DoorDash, Instacart
Contact: sequoiacap.com
21. LocalGlobe
London seed investor in marketplaces.
Investment focus: European marketplace startups
Investment range: Pre-seed to seed, £250K-£2M
Notable investments: Citymapper, Zoopla
Contact: localglobe.vc
22. Point Nine Capital
SaaS and marketplace specialist.
Investment focus: B2B marketplaces, SaaS-enabled marketplaces
Investment range: Seed to Series A, €1M-€4M
Notable investments: Delivery Hero, DocPlanner
Contact: pointninecap.com
23. Balderton Capital
European growth investor in marketplaces.
Investment focus: European marketplace scale-ups
Investment range: Series A+, €1M-€20M
Notable investments: Revolut, Depop, Vivino
Contact: balderton.com
24. CRV (Charles River Ventures)
Early-stage marketplace investor.
Investment focus: Consumer and B2B marketplaces
Investment range: Seed to Series B
Notable investments: DoorDash, Patreon, ClassPass
Contact: crv.com
25. Khosla Ventures
Deep tech meets marketplaces.
Investment focus: Tech-enabled marketplaces
Investment range: Seed to growth
Notable investments: Square, Instacart
Contact: khoslaventures.com
26. Northzone
European VC with marketplace track record.
Investment focus: Nordic and European marketplaces
Investment range: Series A to growth
Notable investments: iZettle, Klarna, Wallapop
Contact: northzone.com
27. DST Global
Late-stage marketplace investor.
Investment focus: Global marketplace leaders
Investment range: Series C+, $50M+
Notable investments: Alibaba, Airbnb, Zalando
Contact: dst-global.com
28. SoftBank Vision Fund
Mega-fund backing marketplace unicorns.
Investment focus: Large-scale marketplace opportunities
Investment range: Series C+, $100M+
Notable investments: Uber, DoorDash, Fanatics
Contact: visionfund.com
29. GGV Capital
US-China marketplace investor.
Investment focus: Cross-border marketplaces
Investment range: Series A to growth
Notable investments: Alibaba, Airbnb, StockX
Contact: ggvc.com
30. Foundry Group
Boulder-based marketplace investor.
Investment focus: B2B and vertical marketplaces
Investment range: Seed to Series B
Notable investments: Fitbit, SendGrid
Contact: foundrygroup.com
31. Bpifrance
French national investor supporting marketplaces.
Investment focus: French and European marketplaces
Investment range: Pre-seed to growth, debt available
Notable investments: French marketplace ecosystem
Contact: bpifrance.com
32. Forward Partners
UK ecommerce and marketplace specialist.
Investment focus: UK marketplace startups
Investment range: Pre-seed to Series A
Notable investments: UK marketplace leaders
Contact: forwardpartners.com
33. Seedcamp
European seed investor in marketplaces.
Investment focus: European early-stage marketplaces
Investment range: Pre-seed to seed, €200K
Notable investments: Revolut, TransferWise
Contact: seedcamp.com
34. L Catterton
Consumer-focused growth investor.
Investment focus: Consumer marketplaces at scale
Investment range: Growth equity, $50M+
Notable investments: Consumer platform investments
Contact: lcatterton.com
35. Société Générale Ventures
Corporate VC backing marketplaces.
Investment focus: Fintech and commerce marketplaces
Investment range: Early to late stage
Notable investments: Vestiaire Collective
Contact: ventures.societegenerale.com
36. Golden Ventures
Canadian seed fund for marketplaces.
Investment focus: SaaS-enabled marketplaces, B2B
Investment range: Pre-seed to seed, $500K-$2M
Notable investments: Canadian marketplace ecosystem
Contact: goldenventures.ca
37. Bowery Capital
B2B marketplace specialist.
Investment focus: B2B and enterprise marketplaces
Investment range: Seed, $1M-$3M
Notable investments: B2B marketplace platforms
Contact: bowerycap.com
38. A* Capital
Kevin Hartz's marketplace fund.
Investment focus: Marketplaces with network effects
Investment range: Pre-seed to Series A, $500K-$5M
Notable investments: Next-gen marketplaces
Contact: astar.vc
39. Angels (Marketplace Specialists)
Lenny Rachitsky: Newsletter founder, marketplace expert
Jason Calacanis: 300+ investments including Uber
Andrew Chen (personal): a16z partner, network effects author
D'Arcy Coolican: Former a16z, marketplace specialist
40. StartX
Stanford-affiliated accelerator.
Investment focus: University-connected marketplaces
Investment range: $100K for 5%
Notable investments: Patreon, Lime
Contact: startx.com
Pitching marketplace investors
The unit economics test
Forget everything else if these don't work:
- Take rate that scales
- CAC payback under 12 months
- Positive contribution margin
Show real transactions. Not projections.
Network effects proof
Investors want evidence of:
- Supply brings demand
- Demand brings supply
- Retention improves with scale
One slide. Clear data. No theory.
Liquidity metrics
What percentage of supply gets utilized? How fast do transactions happen? Where's the constraint?
Most marketplaces die from poor liquidity. Address it upfront.
Alternative funding sources
Strategic investors
eBay Ventures: Marketplace infrastructure plays
Amazon: Vertical marketplace opportunities
Uber: Logistics and local commerce
Alibaba: Global marketplace expansion
Accelerators
Y Combinator: $500K, best marketplace alumni network
Techstars: Multiple programs, marketplace mentors
500 Startups: International marketplace focus
NFX Guild: Network effects bootcamp
Revenue-based funding
Clearbanc: E-commerce marketplace funding
Pipe: Recurring revenue marketplaces
Uncapped: European marketplace growth capital
Success stories
Consumer marketplace legends
Airbnb: Y Combinator to $75B valuation. Survived pandemic.
DoorDash: Focused on suburbs. Beat Uber Eats.
Instacart: Grocery focus. IPO after long wait.
B2B marketplace winners
Faire: Wholesale marketplace. $12B valuation.
Flexport: Freight marketplace. Vertical focus.
StockX: Sneaker marketplace. Authentication moat.
Why marketplaces fail
Chicken-egg never solved. Burn capital on both sides. Die.
Take rate too low. Unit economics never work. Investors walk.
No real moat. Competitors copy. Race to bottom.
How Ellty helps marketplace startups
Track how investors evaluate your marketplace with Ellty.
Data from marketplace startups shows:
- Network effects slides get 3x attention
- Unit economics viewed before team
- Liquidity metrics most shared
Smart founders adjust based on engagement data.
FAQs
Q: Managed marketplace or pure platform?
Start managed. Prove quality. Then scale platform.
Q: Geographic expansion or category expansion?
Geography first. Easier to replicate what works.
Q: When to raise for marketplaces?
After proving one side wants to pay. Not before.
Q: How much runway for marketplace?
24 months minimum. Liquidity takes time.
Q: B2B or B2C marketplace easier?
B2B higher AOV, easier CAC. B2C bigger TAM.
