Despite the recent investment drop to $130M in 2023 from $5B in 2021, e-commerce venture capital funds are getting off the sidelines. This trend has made investors more cautious about startup’s market positioning and profitability paths as the e-commerce market is turning into a battlefield. 

That’s why VCs are ready to cut big checks to companies with a robust competitive moat and a focus on customer retention and profitable sales channels.

So, who are the key players in the e-commerce and consumer product arena? We’ve handpicked top consumer VCs in a curated list, including their investment criteria and reach-out information to simplify your investor research and outreach journey.

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1. Lightspeed Venture Partners

➡️ LSVP provides e-commerce startup funding across Europe, the US, India, China, and Israel. It’s a multi-stage VC firm that focuses on disruptive projects in the health, enterprise, fintech, and consumer sectors. Managing $25B in AUM, it has already supported more than 500 ventures globally.

Location: Menlo Park, California, USA

Funding stage: Seed – Series E

Total funds raised: $18.9B

Number of investments: 1340

Number of exits: 230

Value-added beyond money

  • A company-building program for seed founders
  • A platform with growth insights and tools

Notable portfolio companies: Found, Affirm, Carta

Contacts: LinkedIn

2. Madrona Venture Group

➡️ Madrona Venture Group invests in early-stage tech companies, mainly in the Pacific Northwest and across the US. 

Location: Seattle, Washington, USA

Funding stage: Pre-seed – Seed

Total funds raised: $5.1B

Number of investments: 507

Number of exits: 100

Notable portfolio companies: Amazon, CommerceIQ, MessageYes 

Contacts: Contact-page, LinkedIn

3. 1984 Ventures

➡️ 1984 Ventures backs startups that apply technology to large, established industries like e-commerce, finance, SaaS, consumer, and healthcare. It specializes in seed and early-stage funding rounds. Unlike many VC firms, it doesn’t take board seats. 

Location: San Francisco, California, USA

Funding stage: Seed, Early stage

Total funds raised: $120M

Number of investments: 96

Number of exits: 5

Value-added beyond money

  • Help with team onboarding and founder therapy

Notable portfolio companies: Because Market, Postscript, Syrup

Contacts: Email, LinkedIn

4. U.S. Venture Partners

➡️ USVP is one of the leading Silicon Valley-based consumer VCs that targets early-stage startups. Since 1981 it has poured $4.3B+ into more than 523 companies, with 93 achieving IPOs.  

Location: Menlo Park, California, USA

Funding stage: Pre-seed – Series F

Total funds raised: $2.2B

Number of investments: 576

Number of exits: 158

Notable portfolio companies: Trunk Club, Edison, Meet Me

Contacts: Contact-page, LinkedIn

5. TLV Partners

➡️ TLV Partners supports Israeli entrepreneurs within the e-commerce, data, cybersecurity, fintech, and biotech sectors. With over $1B in AUM, the firm invests from seed through Series A funding stages. 

Location: Tel Aviv, Israel

Funding stage: Seed – Series A

Average check size: $2M-$8M

Total funds raised: $1B

Number of investments: 93

Number of exits: 9

Notable portfolio companies: Kipp, Aqua Security, Next Insurance

Contacts: LinkedIn

6. Montage Ventures

➡️ Montage Ventures supports founders who aim to simplify workflow and consumer experiences. Beyond allocating e-commerce venture capital, this firm also targets startups across healthcare and fintech verticals. 

Location: Menlo Park, California, USA

Funding stage: Pre-seed – Series A

Average check size: $250K-$2M

Total funds raised: $53M

Number of investments: 101

Number of exits: 12

Notable portfolio companies: Carbon38, Brainiac, Arka

Contacts: Email, LinkedIn

7. Altos Ventures

➡️ Altos Ventures backs startups from inception to global growth, including both primary and secondary funding. Managing over $8B in funds, they have been investing in early-stage tech ventures across the Americas and Asia since 1996.

Location: Menlo Park, California, USA

Funding stage: Seed – Series H

Total funds raised: $711.8M

Number of investments: 348

Number of exits: 43

Notable portfolio companies: KREAM Corporation, CalmSea, Evant

Contacts: Email, LinkedIn

8. Entrepreneur Invest

➡️ Entrepreneur Invest is an e-commerce private equity firm headquartered in Paris, France. It specializes in European startups across e-commerce, retail, and SaaS verticals. 

Location: Paris, France 

Funding stage: Early stage, Late stage, Debt, Private Equity

Number of investments: 155

Number of exits: 38

Notable portfolio companies: Sojeans

Contacts: Contact-page, LinkedIn

9. Kae Capital

➡️ Kae Capital is an early-stage, industry-agnostic VC fund based in India. It primarily targets tech-driven ventures in e-commerce, healthcare, mobile, education, and consumer sectors. The firm’s portfolio includes B2C and B2B companies that disrupt Indian and global markets.  

Location: Mumbai, India 

Funding stage: Pre-seed – Seed 

Total funds raised: $229M

Number of investments: 113

Number of exits: 17

Value-added beyond money: 

  • Help to achieve product-market fit 

Notable portfolio companies: 1mg, Certa, Contlo

Contacts: Contact-page, LinkedIn

10. Mountain Partners

➡️ Mountain Partners is a global multi-fund investor that encompasses 16 separate VC funds and investment vehicles in Asia, Latin America, and Europe. Its primary focus is disruptive tech startups within the e-commerce, healthtech, and consumer tech industries.

Location: Zürich, Switzerland

Funding stage: Seed – Series C 

Number of investments: 122 

Number of exits: 31

Notable portfolio companies: Tpaga, Albo, Bia 

Contacts: Contact-page, LinkedIn

To secure e-commerce startup funding, focus on competitive advantage and profitability

Although overall VC investment has recently slipped down and the e-commerce market becomes increasingly saturated, the chances of successful fundraising are still high. Ensure your venture has rock-solid market differentiation, customer acquisition/retention strategies, a compelling deck, and a clear outreach plan.  

Explore our articles on building a competitive moat and the top mistakes to avoid in a pitch deck for insights and tips straight from the trenches, or simply contact our team for assistance.

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Ruslana

CONTENT WRITER

Hello! I'm Ruslana, a Content Writer at Waveup. Based on my background in marketing research and business analytics, and my current collaboration with the savvy team at Waveup, I'm excited to share my insights and learnings with you.