Fund VII is the largest fund the firm has ever raised and brings its total capital raised since founding to more than $9 billion
March 26, 2026|John McNulty
Lead Edge Capital has closed its seventh fund with $3.5 billion in oversubscribed commitments. Fund VII is the largest fund the firm has ever raised and brings its total capital raised since founding to more than $9 billion.
Lead Edge Capital makes both control and minority investments of $50 million to $400 million in equity in growth-stage software, internet, and technology-enabled businesses located in North America and Europe. Many of the firm’s target companies have recurring revenue models, demonstrated revenue growth, and high gross margins. Lead Edge is often the first institutional investor in a company.
A key component of the firm’s investment strategy is its network of more than 700 limited partners, composed of senior executives, founders, and operators across a range of industries. These partners support the portfolio companies through customer introductions, recruiting, and management advisory services, and are active across the investment cycle, including transaction sourcing, due diligence, and post-closing growth strategies.
Mitchell Green
“The interest in Fund VII reflects the limited partner network and track record we have built over 15 years, and our continued commitment to being a helpful partner to every company that we invest in,” said Mitchell Green, the founder and managing partner of Lead Edge. “What has always set us apart is our limited partner network and what makes it truly differentiated is that these are not passive investors, they are active advisors who have run some of the world’s most successful businesses. Everyone says they have a network. Fund VII is what happens when you spend 15 years building one that actually works.”
Lead Edge has backed numerous software and internet businesses, including Asana, a San Francisco-based provider of cloud software that enables teams to manage workflows and collaboration; Toast, a Boston-based platform offering point-of-sale, payments, and operational tools for restaurants; and Duo Security, a Michigan-based cybersecurity company focused on identity verification and multi-factor authentication that was acquired by Cisco Systems in 2018. These investments share important characteristics — they all have scalable, product-driven platforms operating in large and growing end markets.
Additional investments include Grafana Labs, a New York-based developer of open-source monitoring and observability software; Spotify, the Sweden-founded digital audio platform with a global subscription and advertising-supported model; and Wise, a London-based provider of cross-border payments and multi-currency accounts.
“What makes Lead Edge uniquely amazing is their limited partner network and the way they can activate them for us,” said Raj Dutt, a co-founder and CEO of Grafana Labs. “For most founders, limited partners are just an abstract concept, but at Lead Edge they’re a core part of the value. When we’ve needed to move fast on a new customer or candidate, Lead Edge has hustled and come back with multiple angles for us to pursue to get to the right person. That’s been true from our Series A through today.”
New York City-headquartered Lead Edge was founded in 2011 and has additional offices in Santa Barbara and London.
