Index Ventures

Reviewed Updated May 15, 2026

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Location San Francisco, CA
Founded 1996
Fund Size $2.3B (2024: $800M venture + $1.5B growth); $15B total capital raised; $3.1B (2021)
Website https://www.indexventures.com
Stage Focus
seed series-a series-b growth
Sector Focus
ai enterprise consumer fintech cybersecurity infrastructure gaming healthcare

Team

Danny Rimer Partner
Neil Rimer Retired Partner & Co-Founder
Mike Volpi Retired Partner
Martin Mignot Partner
Shardul Shah Partner
Jan Hammer Partner
Nina Achadjian Partner
Hannah Seal Partner
Mark Xu Partner
Sofia Dolfe Partner
Carlos Gonzalez-Cadenas Partner
Sahir Azam Partner
Vlad Loktev Partner
Jahanvi Sardana Partner
Stephane Kurgan COO
Dominique Vidal Venture Partner

About

Index Ventures is a global venture capital firm founded in Geneva, Switzerland in 1996 by Neil Rimer, David Rimer, and Giuseppe Zocco 12. The firm raised its first pilot fund of $17 million, followed by a $180 million fund in 1998 2. Neil Rimer was born in Montreal, educated at the International School of Geneva and Stanford University, and had worked at Montgomery Securities before joining Index Securities (the firm’s predecessor) in 1990 3.

Danny Rimer, Neil’s brother, opened the firm’s London office in 2002 and the San Francisco office in 2012, before returning to London in 2018 4. Mike Volpi joined Index in 2009 to help establish the firm’s North American operations alongside Danny Rimer 5. The firm also maintains offices in New York (opened 2022), Geneva, and Jersey, with partners based in Berlin and Tel Aviv 67.

Index Ventures has raised approximately $15 billion in total capital across its history 6. In July 2024, the firm announced $2.3 billion in new funds — an $800 million venture fund (its 12th) and a $1.5 billion growth fund (its 7th) 6. In 2021, Index raised $3.1 billion across venture ($900M), growth ($2B), and seed ($200M) vehicles 1.

The firm’s portfolio includes 108 companies that reached $1 billion+ valuations, 23 companies that exceeded $10 billion, and 57 companies that went public 6. Index claims its portfolio companies have created over 200,000 jobs 6.

Stated Thesis

Index Ventures publicly states that it invests based on “who you are, not just what you do,” targeting “groundbreakers and game-changers” across industries 8. The firm emphasizes: “Ideas don’t build businesses. People do” 8.

Danny Rimer has articulated the firm’s approach: “Our job is spotting someone trying to spark lightning in a bottle working out of their garage and figuring out if they’re the right people to do this” 4.

Neil Rimer (now retired) described his investment philosophy: “People with a strong sense of purpose resonate with me, and if I’m excited about their mission, I’m eager to help them any way I can” 3.

The firm describes its approach as “scaled artisanism,” believing that becoming a great founder partner requires years of dedication 6. Index identifies three converging forces driving its current strategy: AI acceleration transforming innovation across sectors, an experienced talent pool of startup veterans, and globalized entrepreneurship enabling founders worldwide 6.

Inferred Thesis

Based on Index Ventures’ verified portfolio and recent exit data, the following patterns emerge:

Sector distribution: Index has delivered its largest recent returns from enterprise/infrastructure (Wiz — $32B acquisition by Google, Datadog — public), design tools (Figma — IPO at $19.3B valuation reaching ~$68B), fintech (Revolut — $45B valuation, Adyen — public, Robinhood — public), consumer/social (Discord, Roblox — public), and AI (Scale AI, Anthropic) 91011.

Stage distribution: Index operates separate venture and growth funds, investing from seed through late-stage growth 6. The firm led Figma’s 2013 seed round with $1.8 million and invested a total of $86.5 million over 12 years 9. Similarly, Index invested $3.5 million in Wiz’s seed round and participated in every subsequent funding round, investing $245 million total 10.

Geographic distribution: Index has a distinctly transatlantic investment model. The firm covers 24 of the top 30 global tech ecosystems, with particular strength in Europe (Revolut in London, Adyen in Amsterdam, Deliveroo in London) and the US (Figma, Datadog, Discord) 6. The firm also invests actively in Israel (Wiz, founded in Tel Aviv) 10.

Return patterns: Index’s recent exits demonstrate a pattern of concentrated, outsized returns from seed-stage investments held for long periods. Figma’s seed investment returned approximately 90x on IPO day 9. Wiz’s seed investment returned approximately 17.5x ($245M total invested becoming $4.3B) 10. Index is the largest or second-largest shareholder in Roblox, Adyen, and Datadog 11.

Co-investor patterns: Index frequently co-invests with Sequoia, Greylock, Accel, and Andreessen Horowitz.

Portfolio

Company Stage Year Sector Source
Figma Seed 2013 Design/SaaS 9
Wiz Seed 2020 Cybersecurity 10
Revolut Seed 2015 Fintech 14
Datadog Series A 2012 Cloud/Infrastructure 15
Roblox Series C 2017 Gaming 16
Adyen Series A 2011 Fintech/Payments 17
Discord Series C 2017 Consumer/Social 18
Robinhood Seed 2013 Fintech 19
Scale AI Series B 2018 AI/Data 20
Anthropic Growth 2023 AI 8
Dropbox Series B 2011 Cloud/Consumer 21
Etsy Series E 2010 E-commerce 22
Skype Series B 2004 Consumer/Communications 23
Notion Series B 2020 Productivity 24
Deliveroo Series A 2014 Consumer/Delivery 25
Glossier Series B 2016 Consumer/DTC 26
Patreon Series A 2014 Creator Economy 27
Supercell Series A 2011 Gaming 28
Betfair (Flutter) Series A 2006 Gaming/Betting 34
MySQL Series B 2003 Infrastructure/OSS 29
Farfetch Series B 2012 E-commerce/Luxury 30
Trello Series A 2014 Productivity 31
Funding Circle Series A 2011 Fintech 32
Stack Overflow Series B 2011 Developer 33
Remote Series A 2020 HR/Enterprise 34
Personio Series B 2019 HR/Enterprise 35
Trainline (Captain Train) Seed 2012 Travel 36
Granola Series C (led, $125M, $1.5B val) 2026-03-25 AI/Enterprise 13383940
Ineffable Intelligence Seed (participated) 2026-04-27 AI / Foundation Models 37
Adfin Series A (led) 2026-05-12 Fintech / AI Agents / SME 4647
Cowboy Space Corporation Series B (led, $275M at $2B val) 2026-05-11 Space Tech/AI Infrastructure 414243
Frame Security Stealth-exit ($50M, co-led) 2026-05-11 Cybersecurity / Human Risk 4445
Adfin Series A (led, €15.3M); seed (co-led, €8M, Feb 2025) 2026-05-12 Fintech / AI / SMB Payments 4647
Multiverse Growth (participated, €60M at €1.8B val) 2026-05-15 EdTech / AI Workforce Training 4849
Scope Series A (led, €17.3M / ~$20M) 2026-05-22 AI / Industrial Inspection / TIC 5051
Fonoa Series C (follow-on, $110M; Headline led) 2026-05-28 Fintech / TaxTech / AI Compliance 52
Inherent Seed (co-led with Radical Ventures, $50M) 2026-05-28 AI / Research / Scientific Discovery 53
Garner Health Series E (led, $100M at $2.74B val) 2026-05-29 Healthcare / Care Navigation 54

This table represents a subset of Index Ventures’ portfolio.

In Their Own Words

“Our job is spotting someone trying to spark lightning in a bottle working out of their garage and figuring out if they’re the right people to do this.” — Danny Rimer, Partner, Index Ventures website 4

“People with a strong sense of purpose resonate with me, and if I’m excited about their mission, I’m eager to help them any way I can.” — Neil Rimer, Retired Partner & Co-Founder, Index Ventures website 3

Martin Mignot has described the firm culture: Index is “a very collaborative team” with “no sharp elbows and everyone is pushing for everyone else’s success” and “a lot of respect” 7.

The firm states its team members are committed to “never saying no and always pushing to get better — better at finding companies, convincing entrepreneurs we are the best choice, working with entrepreneurs in good and bad times, and improving how we help entrepreneurs achieve their visions” 12.

What Founders Say

A founder described Danny Rimer as “a businessman with an artist’s sensitivity and empathy” who has “been tremendously helpful” 12.

A founder noted: “It’s clear that Index is all in. They’re in the business for more than just the business” 12.

Sources

  1. Wikipedia, “Index Ventures,” accessed March 2026. https://en.wikipedia.org/wiki/Index_Ventures↩↩

  2. LinkedIn, “Index Ventures - Neil Rimer interview,” accessed March 2026. https://www.linkedin.com/pulse/my-interview-index-ventures-general-partner-leading-global-monnier↩↩

  3. Index Ventures, “Neil Rimer,” accessed March 2026. https://www.indexventures.com/team/neil-rimer/↩↩↩↩

  4. Index Ventures, “Danny Rimer,” accessed March 2026. https://www.indexventures.com/team/danny-rimer/↩↩↩↩

  5. Index Ventures, “Mike Volpi,” accessed March 2026. https://www.indexventures.com/team/mike-volpi/↩

  6. Index Ventures, “Relationships That Reshape Industries: Index Launches $2.3bn in New Funds,” July 2024, accessed March 2026. https://www.indexventures.com/perspectives/relationships-that-reshape-industries-index-launches-23bn-in-new-funds/↩↩↩↩↩↩↩↩↩

  7. Index Ventures, “Martin Mignot,” accessed March 2026. https://www.indexventures.com/team/martin-mignot/↩↩

  8. Index Ventures website, homepage, accessed March 2026. https://www.indexventures.com/↩↩↩

  9. Fortune, “Why Index’s Danny Rimer bet on Figma and Dylan Field at the seed stage,” August 2025, accessed March 2026. https://fortune.com/2025/08/01/index-ventures-danny-rimer-figma-dylan-field-seed-round/↩↩↩↩

  10. TechCrunch, “Wiz investor unpacks Google’s $32B acquisition,” March 2026, accessed March 2026. https://techcrunch.com/2026/03/15/wiz-investor-unpacks-googles-32b-acquisition/↩↩↩↩↩

  11. InforCapital, “Index Ventures’ Remarkable Exit Streak – A Year of Big Wins,” accessed March 2026. https://inforcapital.com/news/index-ventures-remarkable-exit-streak-a-year-of-big-wins/↩↩

  12. Index Ventures, “The Index Ventures experience,” accessed March 2026. https://www.indexventures.com/rewarding-talent/the-index-ventures-experience↩↩↩

  13. TechCrunch, “Granola Series C,” March 25, 2026, accessed March 2026. https://techcrunch.com/2026/03/25/granola-series-c↩

  14. Sifted, “Top investors including Index, Seedcamp and Balderton bought into Revolut in 2016,” accessed April 2026. https://sifted.eu/articles/revolut-investor-early-index↩

  15. Datadog, “Datadog Announces $6.2M Investment from Index Ventures and RTP Ventures,” 2012. https://www.datadoghq.com/about/latest-news/press-releases/datadog-announces-6-2m-investment-from-index-ventures-and-rtp-ventures/↩

  16. Index Ventures, “Roblox Secures $92 Million in Funding,” March 2017. https://www.indexventures.com/perspectives/roblox-secures-92-million-in-funding/↩

  17. CNBC, “Adyen IPO: Everything you need to know,” June 2018. https://www.cnbc.com/2018/06/13/adyen-ipo-everything-you-need-to-know-about-the-8-billion-fintech-company.html↩

  18. Tracxn, “Discord funding rounds,” accessed April 2026. https://tracxn.com/d/companies/discord/__5rlLgsamoGCjo5gATenpy383J_jyBToAQkMl2B_f99w/funding-and-investors↩

  19. TechCrunch, “Robinhood Raises $13M To Democratize Stock Market,” September 2014. https://techcrunch.com/2014/09/23/robinhood-stock-app/↩

  20. Index Ventures, “Scale Announces $18 Million in Series B Funding Led by Index Ventures,” August 2018. https://www.indexventures.com/perspectives/scale-announces-18-million-in-series-b-funding-led-by-index-ventures/↩

  21. TechCrunch, “Dropbox Raises $250M In Funding, Boasts 45 Million Users,” October 2011. https://techcrunch.com/2011/10/18/dropbox-raises-250m-in-funding-boasts-45-million-users/↩

  22. TechCrunch, “Index Ventures Buys Into Etsy, Triples Valuation To Nearly $300 Million,” August 2010. https://techcrunch.com/2010/08/26/etsy-300-million-valuation/↩

  23. Tracxn, “Skype funding rounds,” accessed April 2026. https://tracxn.com/d/companies/skype/__nv0Iy0dXeMLu0QYciPo7PUAG-oWpumrC8feEBYwEK10/funding-and-investors↩

  24. TechCrunch, “Notion hits $2 billion valuation in new raise,” April 2020. https://techcrunch.com/2020/04/01/notion-hits-2-billion-valuation-in-new-raise/↩

  25. Index Ventures, “Deliveroo raises $25m in Series B funding,” January 2015. https://www.indexventures.com/perspectives/deliveroo-raises-25m-in-series-b-funding-to-transform-the-food-delivery-experience/↩

  26. Index Ventures, “How Glossier Raised Their Latest Round Of Funding,” November 2016. https://www.indexventures.com/perspectives/how-glossier-raised-their-latest-round-of-funding/↩

  27. Index Ventures, “Patreon raises $15m Series A,” June 2014. https://www.indexventures.com/news/patreon-raises-30-million-series-b↩

  28. PitchBook, “Supercell Scores $130M from Index, Atomico and IVP,” April 2013. https://pitchbook.com/newsletter/supercell-scores-130m-from-index-atomico-and-ivp↩

  29. SlideShare, “MySQL fundraising pitch deck ($16 million Series B round - 2003),” accessed April 2026. https://www.slideshare.net/slideshow/mysql-fundraising-pitch-deck-16-million-series-b-round-2003/62304895↩

  30. TechCrunch, “Online Marketplace For Designer Fashion Boutiques FarFetch Raises $18M From Index Ventures,” January 2012. https://techcrunch.com/2012/01/15/online-marketplace-for-designer-fashion-boutiques-farfetch-raises-18m-from-index-ventures/↩

  31. TechCrunch, “Disrupt Alum Trello Takes In $10.3M For Its Visual To-Do Lists,” July 2014. https://techcrunch.com/2014/07/24/trello-series-a/↩

  32. TechCrunch, “Funding Circle, a Kickstarter for SMBs, Picks Up $16M From Index, Union Square Ventures,” April 2012. https://techcrunch.com/2012/04/01/p2p-small-business-lending-site-funding-circle-a-kickstarter-for-smbs-picks-up-16m-from-index-union-square-ventures/↩

  33. Tracxn, “Stack Overflow funding rounds,” accessed April 2026. https://tracxn.com/d/companies/stack-overflow/__K1cWbMvjGFOB1yGAGxlbAogfmzCfuGF6U_ZKnM9Beio/funding-and-investors↩

  34. Remote, “Remote raises $35 million to help more companies access global talent,” 2020. https://remote.com/news/company-news/208595-remote-raises-35-million-to-help-more-companies-access-global-talent↩

  35. Personio, “Personio raised $40M in Series B investment led by Index Ventures,” January 2019. https://www.personio.com/about-personio/press/series-b-announcement/↩

  36. Tracxn, “Trainline Europe funding rounds,” accessed April 2026. https://tracxn.com/d/companies/trainline-europe/__dHL2gEKGm3xfRN8WuvGdD5a4xOEV-Tkw9Ll3rshIbKM↩

  37. TechCrunch, “DeepMind’s David Silver just raised $1.1B to build an AI that learns without human data,” April 27, 2026. https://techcrunch.com/2026/04/27/deepminds-david-silver-just-raised-1-1b-to-build-an-ai-that-learns-without-human-data/ — $1.1B Seed at $5.1B valuation co-led by Sequoia Capital and Lightspeed Venture Partners; Index Ventures participated. ↩

  38. Granola, “Granola raises $125M to put your company’s context to work,” March 25, 2026. https://www.granola.ai/blog/series-c↩

  39. Index Ventures, “Index Ventures Leads Granola’s $125M Series C,” March 25, 2026. https://www.indexventures.com/perspectives/granola-investing-in-what-makes-us-human/↩

  40. Bloomberg, “AI Notetaker Granola Hits $1.5 Billion Value in $125 Million Funding,” March 25, 2026. https://www.bloomberg.com/news/articles/2026-03-25/ai-notetaker-granola-hits-1-5-billion-value-in-125-million-funding↩

  41. BusinessWire, “Cowboy Space Corporation Raises $275M Series B For Vertically-Integrated Orbital Data Centers and Rockets,” May 11, 2026. Accessed May 2026. https://www.businesswire.com/news/home/20260508036993/en/Cowboy-Space-Corporation-Raises-%24275M-Series-B-For-Vertically-Integrated-Orbital-Data-Centers-and-Rockets — Confirms $275M Series B at $2B valuation led by Index Ventures with IVP, Blossom Capital, SAIC, Breakthrough Energy Ventures, Construct Capital, Andreessen Horowitz, NEA, Interlagos, and founder Baiju Bhatt. ↩

  42. TechCrunch, “There aren’t enough rockets for space data centers — Cowboy Space raised $275M to build them,” May 11, 2026. Accessed May 2026. https://techcrunch.com/2026/05/11/there-arent-enough-rockets-for-space-data-centers-cowboy-space-raised-275-million-to-build-them/↩

  43. Bloomberg, “Cowboy Space Raises $275 Million to Build Data Centers in Orbit,” May 11, 2026. Accessed May 2026. https://www.bloomberg.com/news/articles/2026-05-11/robinhood-billionaire-bhatt-s-cowboy-space-raises-275-million — Third independent source confirming $275M Series B led by Index Ventures, founded by Baiju Bhatt (Robinhood co-founder), at a $2B valuation. ↩

  44. SecurityWeek, “Frame Security Emerges From Stealth With $50M for Awareness and Training Platform,” May 11, 2026. Accessed May 2026. https://www.securityweek.com/frame-security-emerges-from-stealth-with-50m-for-awareness-and-training-platform/ — Confirms $50M stealth-exit funding co-led by Index Ventures, Team8, and Picture Capital with Cerca Partners, Tesonet, Assaf Rappaport, and Elad Gil participating. ↩

  45. SiliconANGLE, “With $50M in funding, Frame Security takes aim at AI-powered social engineering,” May 11, 2026. Accessed May 2026. https://siliconangle.com/2026/05/11/50m-funding-frame-security-takes-aim-ai-powered-social-engineering/↩

  46. Tech Funding News, “Index Ventures leads $18M round in UK fintech Adfin to help SMEs get paid faster,” May 12, 2026. Accessed May 2026. https://techfundingnews.com/index-ventures-leads-18m-round-in-uk-fintech-adfin-to-help-smes-get-paid-faster/ — Confirms $18M Series A led by Index Ventures with Visionaries Club, Stéphane Kurgan, Andrey Khusid; total funding to $30M in under two years. ↩↩

  47. EU-Startups, “Index Ventures backed-Adfin raises €15.3 million to help businesses automate revenue collection with AI,” May 12, 2026. Accessed May 2026. https://www.eu-startups.com/2026/05/index-ventures-backed-adfin-raises-e15-3-million-to-help-businesses-automate-revenue-collection-with-ai/↩↩

  48. Tech.eu, “Euan Blair’s Multiverse raises $70M at $2.1BN valuation,” May 15, 2026. Accessed May 2026. https://tech.eu/2026/05/15/euan-blair-s-multiverse-raises-70m-at-2-1bn-valuation/ — Multiverse’s €60M / $70M growth round on May 15, 2026 at €1.8B / $2.1B valuation was led by Schroders Capital with participation from General Catalyst, Lightspeed Venture Partners, D1 Capital Partners, Index Ventures, BOND, and StepStone Group. ↩

  49. Silicon Republic, “Euan Blair’s edtech Multiverse valued at $2.1bn after $70m raise,” May 15, 2026. Accessed May 2026. https://www.siliconrepublic.com/start-ups/euan-blairs-edtech-multiverse-valued-at-2-1bn-after-70m-raise — Independent contemporaneous confirmation of Multiverse’s $70M raise at $2.1B valuation led by Schroders Capital, with Index Ventures and other existing investors participating. ↩

  50. Sifted, “Exclusive: Index Ventures leads $20m round in AI inspection startup Scope,” May 2026. Accessed May 2026. https://sifted.eu/articles/index-ventures-20m-scope — Confirms Index Ventures led Scope’s €17.3M (~$20M) Series A on May 22, 2026; participation from Susa Ventures, Entrepreneurs First, Syndicate 1, plus angels Mehdi Ghissassi (Ai71, ex-DeepMind), Cedric Pech (MongoDB), Naren Shaam (Omio), and Andy Szybalski (Microsoft AI). ↩

  51. Vestbee, “Scope secures $20M led by Index Ventures to transform industrial inspection,” May 2026. Accessed May 2026. https://www.vestbee.com/insights/articles/scope-secures-20-m — Independent confirmation: Scope (founded 2024, London) serves inspectors from 6 of top 10 global TIC inspection companies; 9x ARR growth since July 2025 launch with 100% pilot conversion rate. ↩

  52. EU-Startups, “Dublin’s AI TaxTech startup Fonoa raises €94.4 million Series C and buys PwC’s tax platform,” May 29, 2026. Accessed May 2026. https://www.eu-startups.com/2026/05/dublins-ai-taxtech-startup-fonoa-raises-e94-4-million-series-c-and-buys-pwcs-tax-platform/ — Confirms Index Ventures as existing investor participating in Fonoa’s $110M (€94.4M) Series C on May 28, 2026; Headline led; Eurazeo and Forestay Capital joined as new investors alongside existing backers OMERS, Coatue, and Dawn Capital. Fonoa simultaneously acquired Indirect Tax Edge from PwC. ↩

  53. Index Ventures, “Inherent: Designing for Discovery,” May 28, 2026. Accessed May 2026. https://www.indexventures.com/perspectives/inherent-designing-for-discovery/ — Confirms Index Ventures co-led Inherent’s $50M seed with Radical Ventures on May 28, 2026; NVentures (NVIDIA), Ex/Ante, Metaplanet, Macroscopic Ventures, and Mythos Ventures participated. London-based AI research lab building Faraday system; co-founders Tantum Collins, Edward Hughes, Louis Kirsch (ex-DeepMind) and Kaloyan Aleksiev (ex-Reka, Microsoft). ↩

  54. Index Ventures, “Garner: Bringing Intelligence to Healthcare’s Hardest Choice,” May 29, 2026. Accessed May 2026. https://www.indexventures.com/perspectives/garner-bringing-intelligence-to-healthcares-hardest-choice/ — Confirms Index Ventures led Garner Health’s $100M Series E on May 29, 2026 at $2.74B valuation. Existing investors Kleiner Perkins, Redpoint, Thrive Capital, Sequoia Capital, Founders Fund, and Kaiser Permanente Ventures participated. Cross-referenced with PR Newswire, https://www.prnewswire.com/news-releases/garner-health-closes-100-million-series-e-at-a-2-74b-valuation-to-continue-addressing-the-healthcare-quality-and-cost-gap-302783840.html — Garner partners with 800 customers including USA Today, Paylocity, University of Oklahoma; ~$200M gross ARR; more than 2x growth for 5 consecutive years. ↩