Sources of capital
Where a venture can raise money, grouped by type of funder
Capital sources
Who funds a venture
Institutional
Pooled, managed funds
Venture capital firms (GP/LP)Seed, early, growth-stage equity
Private equity / buyout fundsControl stakes in mature companies
Limited partners (LPs)Pensions, endowments, fund-of-funds
Hedge fundsCrossover, late-stage rounds
Sovereign wealth fundsState-owned investment pools
Corporate venture capitalStrategic arms of large firms
Banks & venture debt lendersLoans, credit lines, debt facilities
Insurance & asset managersLong-horizon institutional capital
Private wealth
Family-controlled money
Single-family officesOne family's wealth vehicle
Multi-family officesPooled wealth, several families
Foundations & endowmentsMission-driven, long-term capital
Private banks / wealth mgmtHigh-net-worth client capital
Individuals
Personal capital
Angel investorsIndividuals, early-stage equity
Angel groups & syndicatesPooled angels investing together
Accredited investorsIncome / net-worth qualified individuals
Founders, friends & familyBootstrapping and personal networks
Intermediaries
Conduits and platforms
Broker-dealers / placement agentsSource and place private offerings
Equity crowdfunding platformsReg CF / Reg A+ retail raises
Investment banksIPOs, advisory, capital raising
Accelerators & incubatorsSmall checks plus mentorship
SPACsBlank-check public listing vehicles
Secondary market platformsBuying existing private shares
Alternative
Non-dilutive funding
Government grants & SBIRNon-dilutive public funding
Revenue-based financingRepaid as a share of revenue
Reward / debt crowdfundingKickstarter-style, peer lending
Strategic / corporate partnersJV capital, licensing, deposits
Customers & pre-salesDeposits and contracts fund growth
Token sales / digital assetsCrypto-based capital raises
LPs are the capital behind VC and PE funds rather than a parallel source. Broker-dealers and investment banks connect issuers to investors — they channel capital rather than supply it.