Neuberger Berman's venture capital strategy focuses on long-term stewardship, investing in growth-stage companies with sustainable business models and strong management teams, prioritizing disciplined valuation and long-term capital appreciation. They construct diversified private equity portfolios across various asset classes, strategies, and geographies, often utilizing a co-investment approach by partnering with leading private equity firms to invest directly in private companies.
Deal activity increased 50% year-over-year (3 deals in the last 12 months). Average disclosed round size is $316.0M (across 20 rounds with reported amounts).
Portfolio
21
Fund Size
$563B
Top Stage
Growth
Last 12 Mo
3
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
21 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Ayar Labs | Series E | $500M | Mar 2026 |
 Vestwell | Series E | $385M | Feb 2026 |
 Upgrade, Inc. | Series G | $165M | Oct 2025 |
 Skyfire Systems | Seed | $8.5M | Aug 2024 |
 BillionToOne | Series D | $130M | Jun 2024 |
 Wayflyer | Unknown | $1B | Sep 2023 |
 Gympass | Series F | $85M | Aug 2023 |
| WWunderkind | Series C | $76M | Mar 2023 |
 Celonis | Series D | $1B | Aug 2022 |
 Salsify | Series F | $200M | Apr 2022 |
 Savage X Fenty | Series C | $125M | Jan 2022 |
 Caris Life Sciences | Growth | $830M | May 2021 |
 Menlo Security | Series E | $100M | Nov 2020 |
 Fanatics | Series E | $350M | Aug 2020 |
 Trustly | Growth | — | Jun 2020 |
 Druva | Growth | $130M | Jun 2019 |
 CommonBond | Series D | $50M | Mar 2018 |
| Savage X Fenty | Unknown | $300M | — |
| Upgrade, Inc. | Growth | $165M | — |
| Fanatics | Growth | $320M | — |
| Celonis | Series D | $400M | — |
Top Co-Investors
Franklin Templeton4 shared
Qatar Investment Authority3 shared
Fidelity Investments2 shared
Thrive Capital2 shared
L Catterton2 shared
LuminArx Capital Management2 shared
Silver Lake2 shared
BlackRock2 shared
Liontree2 shared
Sixth Street Growth2 shared
Activant Capital2 shared
Alta Park2 shared
CommonFund Capital2 shared
T. Rowe Price Associates, Inc.2 shared
August Capital1 shared
Nyca1 shared
Major League Baseball1 shared
Clearlake Capital Group1 shared
NFL1 shared
Last updated: 16 April 2026