Top 7 VC portfolios converge: market overlap jumps from 11-19% to 36%
FinanceYF5 · x · 2026-10-25
Analysis by Odin and Harmonic shows that from 2005-2023, seven top VC firms (Sequoia, a16z, Accel, Lightspeed, Bessemer, General Catalyst, NEA) had only 11-19 cents of every $100 invested overlapping with the overall venture market's capital distribution. By 2024-26, the combined overlap across all seven has surged to 35.9%, a 2.1x increase.
Convergence speeds vary: Lightspeed now at 20.0% (7.7x jump), Sequoia 21.6% (3.7x), General Catalyst 16.2% (4.6x), a16z 14.9% (3.2x), Bessemer 13.9% (10x), Accel 12.8% (4x), while NEA stays flat at 1.7%. Once-distinctive firms are increasingly investing in the same companies.
More from Venture
- OpenRouter analysis finds evidence of spoofing-style price manipulation by inference providers — AccBalanced · 2026-10-25
- Ambient assistant Ambi exits beta with $26M backed, lands on Apple devices — FinanceYF5 · 2026-10-25
- Google's AI opt-in becomes the legal gateway to its richest ad data — VectorWireAI · 2026-10-25
- Bill Gurley: Strip out the frothy years and VC's 40-year returns aren't that impressive — FinanceYF5 · 2026-10-25
- Short video may be Netflix's real rival as its market cap slides from ~$500bn peak — FinanceYF5 · 2026-10-25
- US venture capital concentration hits 2010-era high; OpenAI alone took 21.5% of 2026 dollars — FinanceYF5 · 2026-10-25