Midas List
Worldwide
Since 2001, The Midas List has recognized the top 100 VCs who make big, early bets in the leading tech companies of the future and who create exceptional value for their investors. A company is considered for VC deal attribution if it has exited in the last five years at $200 million+ or is a private, unexited company valued at $400 million+.
Seed
The Midas Seed List recognizes the top 25 seed investors worldwide who invest at the earliest stages and deliver outstanding performance by supporting the fastest growing tech companies in their infancy. To qualify for deal attribution a company must have exited at $50 million or have a private, unexited valuation of $100 million+.
Qualifications
- A VC must invest on behalf of third-party Limited Partners. Investments made from personal balance sheets or for a single corporation, foundation, etc. do not qualify.
- Companies submitted for Midas List worldwide must have exited in the last five years at $200 million+ or be a private, unexited company valued at $400 million+.
- Companies submitted for the Midas Seed List must have exited at $50 million or have a private, unexited valuation of $100 million+. In addition, the exit value or unexited valuation must be triple the VC’s original investment to qualify.
Methodology
Private and valued at $400 million+
Private and valued at $100 million+
Valuation triple the VC’s original investment
Last Year’s Midas List
Quantify & Rank Investments
Next, we calculate a ranking for each VC’s investment in a qualifying company, which is based on generated deal value, size of exit or private valuation, and other key metrics weighted to favor more recent deals, earlier stage investments, and higher investment multiples. We then aggregate the number of “winning” investments per VC to determine a total deal attribution score, which informs a deal metric ranking against others. Then, we consider the total number of qualifying deals for each VC to determine a deal count ranking. Below we break down how each of these ranking scores are determined.
A Look Into The Model
In this simplified example we demonstrate how the model considers deals by three VCs who invested in the same company, XYZ, at different stages. Each VC who is invested in the company receives a score for their deal based on several variables (see top row for select sample metrics). This process is repeated for all companies attributed to each VC – which amounts to a total deal attribution score. This score determines the ranking by deal metrics for each individual.
Here we demonstrate how the model considers the total number of investment deals attributed to each VC, with a weighted emphasis on exited companies. Together, the number of exited and private deals amount to a total deal count score. This score determines the ranking by deal count for each VC.
FAQs
The submission timeline is determined by Forbes’ editorial calendar each year, but the Midas List worldwide typically launches in early January with a final submission deadline near the end of January. The list is published a few months later. The process kicks off with an email inviting interested parties to submit – if you’d like to be added to the email list to receive notification when submissions open, please email us at midas@truebridgecapital.com.
Yes. All information shared in submissions is secure and completely confidential. Data is submitted directly to TrueBridge in order to allow a third party to receive and analyze the data. We understand how critically important and sensitive this data is, and have measures in place to ensure its security and confidentiality.
Try using the “reset password” button. If that doesn’t work, please reach out to us at midas@truebridgecapital.com and we’ll take care of it.
Yes. VCs who made investments at a prior firm can submit those deals as well as any they have worked on at their new firm.
Fields in the “required” category are paramount, fields in the “important” category are crucial for a submission to be competitive, and those in the “helpful” bucket are qualitative context requests.
This section allows submitters to provide more qualitative context about a partner’s or firm’s involvement in a company and its success.
Every deal must be attributed to at least one partner-level investor. It is possible to split attribution between two investors. The percent credit between them can be split however a firm deems is appropriate but should add up to 100%.
Please categorize it as realized even if the position has not been monetized.
Data as of 12/31 for the prior year should be submitted if possible.
None. We analyze investment data and do not require any company operating data to be submitted.
No problem – we want to get your full, accurate data! Contact us at midas@truebridgecapital.com before the submission deadline and we can reopen your submission for you to add anything that was omitted.
It is intended to recognizing the world’s most successful venture investors through a data-driven, analytical process. Venture capital has a significant impact on global innovation, but is opaque to many entrepreneurs and others outside the industry.
Yes. All information shared in submissions is secure and completely confidential. Data is submitted directly to TrueBridge in order to allow a third party to receive and analyze the data. We understand how critically important and sensitive this data is, and have measures in place to ensure its security and confidentiality.
The submission timeline is determined by Forbes’ editorial calendar each year, but the Midas List worldwide typically launches in early January with a final submission deadline near the end of January. The list is published a few months later. The process kicks off with an email inviting interested parties to submit – if you’d like to be added to the email list to receive notification when submissions open, please email us at midas@truebridgecapital.com.
The Midas List is very competitive and global in nature. There are simply many, many VCs with incredible records of success.
The List has tracked closely to overall changes in the VC industry. We see more representation from Asia and we see more gender diversification.
The Midas Seed List exists to recognize smaller, early-stage managers through a data-driven, analytical process. Investment size and stage, as well as fund size for seed managers often makes it difficult for them to break onto the Midas List.
Try using the “reset password” button. If that doesn’t work, please reach out to us at midas@truebridgecapital.com and we’ll take care of it.
VCs must invest capital on behalf of third parties – that is, they must have LPs. Investors investing from personal balance sheets and corporate investors are not currently eligible.
Eligible portfolio companies must have exited in the last five years through public offering or sale at a $200 million valuation or more, or carry an un-exited private valuation of $400 million or more at their last priced round.
VCs must invest capital on behalf of third parties – that is, they must have LPs. Investors investing from personal balance sheets and corporate investors are not currently eligible. For this reason, angel investments should not be included in submissions.
Forbes has determined that investors who have stepped down from their firm or been asked to resign over a moral issue such as sexual misconduct will be subject to removal from the List.
The submission timeline is determined by Forbes’ editorial calendar each year, but the Midas List worldwide typically launches in early January with a final submission deadline near the end of January. The list is published a few months later. The process kicks off with an email inviting interested parties to submit – if you’d like to be added to the email list to receive notification when submissions open, please email us at midas@truebridgecapital.com.
Yes. All information shared in submissions is secure and completely confidential. Data is submitted directly to TrueBridge in order to allow a third party to receive and analyze the data. We understand how critically important and sensitive this data is, and have measures in place to ensure its security and confidentiality.
The Midas Seed List exists to recognize smaller, early-stage managers whose investment size and stage, as well as fund size, often make it difficult for them to break onto the Midas List.
When beginning your submission, there is an option to select which List(s) you would like to submit for – Midas List worldwide, Midas Seed List, or both. Simply select the appropriate option(s) and include any qualifying deals in your submission.
VCs must invest capital on behalf of third parties – that is, they must have LPs. Investors investing from personal balance sheets and corporate investors are not currently eligible. For this reason, angel investments should not be included in submissions.
Eligible portfolio companies must have exited in the last five years through public offering or sale at a $50 million valuation or more, or carry an un-exited private valuation of $100 million or more at their last priced round. In addition, a submitting investor must have invested a minimum of $100,000 in the company.
No. Investors must have made investments on behalf of third-party Limited Partners.
Ready to Apply?
Application Open January 2025