20 active travel VCs backing travel tech startups

Travel tech funding is back but looks nothing like 2019. Remote work changed how people travel. AI is automating booking and customer service. Distribution platforms are consolidating. These 20 investors closed deals in 2025 when others sat out.

The pandemic forced out tourists who invested for hype. What's left are investors who understand travel economics - unit costs, supplier relationships, and why distribution matters more than brand. Most of these funds have travel industry executives as LPs or advisors.

Quick list

Finding the right travel investor

Industry experience: Look for investors with actual travel industry backgrounds. Thayer Ventures has former airline CEOs and hotel executives as advisors. Generic tech VCs don't understand hotel distribution economics or why OTAs take 20% commissions.

Network access: Check if they can connect you to distribution partners, OTAs, or airlines. SKY VC's parent company manages relationships with 100+ airlines and MROs. That matters more than introductions to other startups.

Stage fit: Early-stage investors like Antler write $250K checks for pre-revenue companies. Growth funds like Silver Lake need $50M+ revenue runs to even take a meeting. Don't waste time pitching Series B investors when you need seed capital.

Geographic focus: Some investors only back companies in specific regions. NFQ Capital focuses on European early-stage companies. Target Global invests across Europe and emerging markets. Make sure your location matches their mandate.

Track record in travel: Use Ellty to share your deck with trackable links. You'll see who actually reads your distribution strategy vs. skimming the executive summary. Most investors say they understand travel but skip the pages about supplier relationships.

Value beyond capital: Ask portfolio founders what operational help they got during COVID. Travel companies that survived 2020-2021 needed more than money - they needed help renegotiating leases and supplier contracts. Use password-protect PPTs when sharing sensitive operational decks.

Approaching travel investors

Research their portfolio: Check which travel companies they've backed and at what stages. Thayer Ventures invested in Mews (hotel management software) which became a unicorn in 2024. That tells you they understand hospitality tech.

Know the travel segments: Booking platforms, hospitality tech, transportation, and tours/activities all have different unit economics. Don't pitch a tours marketplace to an investor who only backs B2B hotel software. They won't understand your model.

Show traction in travel: Upload to Ellty and send trackable links. Monitor which investors spend time on your supplier agreements and customer acquisition costs. If they skip your distribution strategy, they probably don't get travel economics.

Get warm introductions: Message founders from their portfolio companies on LinkedIn. Ask about response times and whether the investor helped with distribution partnerships. Most will tell you if their investor just shows up to board meetings.

Target the right events: Phocuswright Conference and Skift Global Forum are where travel deals happen. Web Summit has too many tire-kickers. Focus on events where tour operators, hoteliers, and airline executives actually attend.

Skip generic pitches: Don't lead with "Airbnb for X" comparisons. Travel investors have heard that pitch 1,000 times. Show them your supplier density in key markets and your repeat booking rate.

Prepare travel-specific data: Set up an Ellty data room with your supplier contracts, customer cohort analysis, and distribution agreements before meetings. Use GDPR-compliant practices when sharing customer or supplier information. Travel investors want to see supplier concentration and whether you own demand or just arbitrage distribution.

Lead with distribution: Travel is a distribution business. Investors want to know how you'll acquire customers cheaper than $100 CPA when Google and Facebook own paid channels. Your organic playbook matters more than your brand story.

Why travel funding matters in 2025

Global travel spending hit $8 trillion in 2024 with 5.8% annual growth projected through 2034. Remote work permanently changed booking patterns - people book longer stays with less advance notice. This broke traditional revenue management models that hotels used for decades.

AI is commoditizing customer service and itinerary planning. Chatbots handle basic booking questions that used to require call centers. This lowers operating costs but also makes differentiation harder for startups competing on service quality.

Distribution consolidation is accelerating. Google Travel, Booking.com, and Expedia control most online travel bookings. Startups that don't own proprietary demand or have unique supplier relationships struggle to compete on unit economics.

20 top travel investors

1. Thayer Ventures

They're the most active US-based travel VC over the past decade. Chris Hemmeter and team formed Thayer Investment Partners in 2024 by combining Thayer Ventures and Derive Ventures.

• Recent Deals: Diamo ($4M Seed, 2025), TripSuite ($5M Seed, Dec 2024), Bounce ($19M Series B, Nov 2024), Canary Technologies (2025)
• LinkedIn: Thayer Ventures
• Sector Focus: Travel technology, hospitality tech, transportation, booking platforms
• Stage Focus: Seed, Series A, Series B, Series C
• Location: San Francisco, California
• Website: thayerventures.com

2. SKY VC (formerly JetBlue Technology Ventures)

Founded in 2016 as JetBlue's corporate VC arm, acquired by SKY Leasing in May 2025. They maintain strategic partnership with JetBlue while gaining access to SKY's 100+ airline relationships worldwide.

• Recent Deals: AIR COMPANY ($69M Series B, Sept 2024), Wherobots ($21.5M Series A, Nov 2024), Beacon AI ($15M Series A, Oct 2024)
• LinkedIn: JetBlue Ventures
• Sector Focus: Aviation, travel, hospitality, transportation, enterprise tech
• Stage Focus: Seed, Series A, Series B
• Location: San Carlos, California
• Website: jetblueventures.com

3. General Catalyst

Global VC with $14.75B raised across 20 years, backed Airbnb, Kayak, and Stripe. Recently expanded European presence by acquiring La Famiglia and Venture Highway.

• Recent Deals: TravelPerk ($115M Series D extension, Jan 2025), CookUnity ($250M, Nov 2025), Chainguard ($280M, Nov 2025)
• LinkedIn: General Catalyst
• Sector Focus: Consumer, enterprise, fintech, health, travel platforms
• Stage Focus: Seed, Series A, Series B, Growth
• Location: San Francisco, California / Cambridge, Massachusetts
• Website: generalcatalyst.com

4. Accel

Global VC firm with 40+ years backing exceptional teams, portfolio includes Atlassian, Slack, Spotify, and Flipkart. Made 112 investments in 2025 across sectors.

• Recent Deals: Multiple investments across consumer internet, enterprise software, and travel platforms
• LinkedIn: Accel
• Sector Focus: Consumer internet, enterprise software, travel tech, fintech
• Stage Focus: Seed, Series A, Series B, Growth
• Location: Palo Alto, California
• Website: accel.com

5. 500 Global (formerly 500 Startups)

Global VC with $2.3B AUM investing in 2,400+ companies. Their travel portfolio includes TourRadar and Klook with 15+ unique travel tech investments since 2012.

• Recent Deals: Multiple seed and early-stage investments across travel, hospitality, and consumer sectors
• LinkedIn: 500 Global
• Sector Focus: Travel tech, consumer, fintech, enterprise, global startups
• Stage Focus: Seed, Series A
• Location: Palo Alto, California
• Website: 500.co

6. Sequoia Capital

Founded in 1972, backed Google, Apple, Airbnb, and WhatsApp. Companies backed by Sequoia created $3.3T+ in market capitalization.

• Recent Deals: Historical investments in Airbnb and other major travel platforms
• LinkedIn: Sequoia Capital
• Sector Focus: Technology, consumer, enterprise, fintech, travel platforms
• Stage Focus: Seed, Series A, Series B, Growth, Late-stage
• Location: Menlo Park, California
• Website: sequoiacap.com

7. Heartcore Capital

Copenhagen-based fund investing pre-seed to Series F with $300K-$6M check sizes. Portfolio includes TravelPerk, Podimo, and Taster with focus on consumer brands.

• Recent Deals: TravelPerk, FlexAI, Zefir, multiple consumer-focused startups
• LinkedIn: Heartcore Capital
• Sector Focus: Consumer brands, travel, health, real estate, finance, entertainment
• Stage Focus: Pre-seed, Seed, Series A, Series B, Series F
• Location: Copenhagen, Denmark
• Website: heartcore.com

8. Felix Capital

VC firm focused on digital lifestyle, brands, and enabling technologies. Backs companies transforming how people live, work, and travel.

• Recent Deals: Multiple digital lifestyle and travel-related brands
• LinkedIn: Felix Capital
• Sector Focus: Digital lifestyle, consumer brands, travel enabling tech
• Stage Focus: Seed, Series A, Series B
• Location: London, United Kingdom
• Website: felixcap.com

9. SoftBank Group

Global investment firm investing across growth stages in health tech, finance, communications, and travel platforms.

• Recent Deals: TravelPerk, GetYourGuide (through Vision Fund), multiple growth-stage investments
• LinkedIn: SoftBank Investment Advisers
• Sector Focus: Health tech, finance, communications, travel, AI
• Stage Focus: Series C, Series D, Growth, Late-stage
• Location: London, United Kingdom / Tokyo, Japan
• Website: softbank.com

10. NFQ Capital

Early-stage fund investing in e-commerce, community, lifestyle, and travel tech with $250K-$5M investments. Backed GetYourGuide and Tourlane with 900+ experts in Europe and Asia.

• Recent Deals: GetYourGuide, Tourlane, various European travel tech startups
• LinkedIn: NFQ Capital
• Sector Focus: E-commerce, travel tech, community, lifestyle, service industry
• Stage Focus: Seed, Series A
• Location: Berlin, Germany
• Website: nfq.com

11. Target Global

VC firm investing in financial, health, and education technology companies with travel sector experience.

• Recent Deals: Various fintech and travel-related investments across Europe
• LinkedIn: Target Global
• Sector Focus: Fintech, health tech, education tech, travel platforms
• Stage Focus: Series A, Series B, Growth
• Location: Berlin, Germany
• Website: targetglobal.vc

12. btov Partners

Berlin-based VC investing in early-stage startups through seed and series funding with €250K-€10M investments across fintech, health tech, AI, and climate tech.

• Recent Deals: Various European early-stage companies across sectors
• LinkedIn: btov Partners
• Sector Focus: Fintech, health tech, AI, climate tech, travel tech
• Stage Focus: Seed, Series A, Series B
• Location: Berlin, Germany
• Website: btov.vc

13. Monkfish Equity

Seed-stage specialist with over $100M raised and spent, experienced in full startup lifecycle including successful exits. Backed Tourlane and travel service technologies.

• Recent Deals: Tourlane, various seed-stage travel and service companies
• LinkedIn: Monkfish Equity
• Sector Focus: Travel, service technologies, consumer platforms
• Stage Focus: Seed
• Location: London, United Kingdom
• Website: monkfishequity.com

14. Investment AB Kinnevik

Stockholm-based fund supporting businesses from early to late stages in digital consumer services, health tech, and green technology. Backed TravelPerk and H2 Green Steel.

• Recent Deals: TravelPerk, H2 Green Steel, Aira, Babylon Health, HungryPanda
• LinkedIn: Kinnevik
• Sector Focus: Digital consumer services, health tech, green technology, travel
• Stage Focus: Early-stage, Growth, Late-stage
• Location: Stockholm, Sweden
• Website: kinnevik.com

15. Index Ventures

VC firm investing in startups with potential to become global businesses across technology sectors including travel platforms.

• Recent Deals: Various technology companies with global expansion potential
• LinkedIn: Index Ventures
• Sector Focus: Technology, consumer internet, enterprise, travel platforms
• Stage Focus: Seed, Series A, Series B, Growth
• Location: London, United Kingdom / San Francisco, California
• Website: indexventures.com

16. Antler

Singapore-based accelerator and incubator investing in early-stage tech companies. Travel portfolio includes Airalo (eSIM for travelers) and Unravel (AI travel recommendations).

• Recent Deals: Airalo, Unravel, various early-stage travel convenience platforms
• LinkedIn: Antler
• Sector Focus: Travel tech, mobility, convenience platforms, AI applications
• Stage Focus: Pre-seed, Seed
• Location: Singapore
• Website: antler.co

17. Silver Lake

Growth equity and private equity firm with $102B under management. Invested in Omio and other large-scale travel and service tech platforms.

• Recent Deals: Omio, various growth-stage technology investments
• LinkedIn: Silver Lake
• Sector Focus: Technology, software, travel platforms, enterprise services
• Stage Focus: Series C, Growth, Late-stage, Buyout
• Location: Menlo Park, California
• Website: silverlake.com

18. Local Globe

London-based VC investing pre-seed to Series C in e-commerce, mobility, and climate tech. Notable investments include Qogita and Sylvera.

• Recent Deals: Qogita, Sylvera, various UK and European mobility companies
• LinkedIn: Local Globe
• Sector Focus: E-commerce, mobility, climate tech, consumer platforms
• Stage Focus: Pre-seed, Seed, Series A, Series B, Series C
• Location: London, United Kingdom
• Website: localglobe.vc

19. Insight Partners

New York-based VC investing in technology and software companies from seed to Series G without set check size limits. Backed BlaBlaCar and Checkout.

• Recent Deals: BlaBlaCar, Checkout, various technology and SaaS companies
• LinkedIn: Insight Partners
• Sector Focus: Technology, software, data analytics, cloud services, fintech, travel
• Stage Focus: Seed, Series A, Series B, Series C, Series G
• Location: New York, New York
• Website: insightpartners.com

20. Plug and Play Tech Center

Global accelerator and VC firm investing in various industries including travel. Made 7+ unique travel tech investments including GetGoing with seed and Series A funding.

• Recent Deals: GetGoing, multiple early-stage travel and tech companies
• LinkedIn: Plug and Play Tech Center
• Sector Focus: Travel tech, fintech, health tech, mobility, enterprise
• Stage Focus: Seed, Series A
• Location: Sunnyvale, California
• Website: plugandplaytechcenter.com

How to track your travel investor outreach

These 20 investors made deals from 2023 to November 2025. Before reaching out, set up proper tracking. Travel investors want to see traction metrics that other VCs ignore - supplier relationships, repeat booking rates, and distribution economics.

Upload your deck to Ellty and create unique pitch deck links for each investor. You'll see exactly which slides they view and how long they spend on your supplier economics. Most travel investors skip the brand story slides but spend 10+ minutes analyzing your customer acquisition costs and supplier concentration.

When investors ask for due diligence materials, share an Ellty data room instead of email attachments. Your supplier contracts, cohort analysis, and distribution agreements in one place with view analytics. You'll know if they actually reviewed your supplier terms or just said they did.

Common questions

How do I know if a travel investor is still active?

Check their recent deals on Crunchbase or PitchBook. Thayer Ventures made 7 investments in 2024 and 2 in 2025 so far. If their last deal was in 2020, they probably stopped deploying capital after COVID. Also check if they've announced new funds recently.

Should I target corporate VCs or traditional VCs for travel?

Corporate VCs like SKY VC have direct distribution access but move slower on decisions. Traditional VCs like Thayer Ventures decide faster but may have less operational support. If you need airline partnerships, corporate VCs help. If you need capital quickly, go traditional.

What's the difference between hospitality investors and travel investors?

Hospitality investors like Thayer Ventures focus on hotel tech, property management, and guest experience. Travel investors might back booking platforms, transportation, or tours. Some investors like General Catalyst do both. Check their portfolio before pitching.

How many travel investors should I pitch?

Start with 10-15 that match your stage, geography, and travel segment. Use Ellty tracking to see who opens your deck and spends time on your key slides. Follow up with investors who actually read your distribution strategy. Don't waste time on investors who skim the exec summary.

When should I prepare a travel-specific data room?

Before first meetings. Travel due diligence focuses on supplier contracts, customer cohort retention, and distribution agreements. Having this ready in an Ellty data room speeds up the process by 3-4 weeks. Investors need to see supplier concentration risk and pricing terms.

Do travel investors care about COVID recovery metrics?

Yes. They want to see how quickly you recovered to 2019 revenue levels and whether your unit economics improved. Companies that came out of COVID with better gross margins proved they could manage through crisis. Show month-over-month recovery data from 2021-2023.