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Small Business Innovation Research

Government · Founded 1982 · Washington DC, United States

#264 Investor Ranking 2026 Top 2% of investors worldwide

America's Seed Fund Powered by the National Science Foundation. Small Business Innovation Research program. High tech startup

Website ↗LinkedIn ↗X / Twitter ↗
7,093 Portfolio companies
75 Unicorns
7 Decacorns
2,275 Investments
Jul 2026 Last investment
01 · Biggest holdings

Small Business Innovation Research’s biggest current holdings.

The most valuable companies Small Business Innovation Research still holds, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Dealroom has no parsed shareholder register for Small Business Innovation Research, so the size of each stake isn’t shown.

#CompanyValuation
  1. 1 AndurilDecacorn · Security · USA $61.0B
  2. 2 Shield AIDecacorn · Robotics · USA $12.7B
  3. 3 ŌURADecacorn · Health · Finland $10.9B
  4. 4 ApptronikUnicorn · Robotics · USA $5.5B
  5. 5 SkydioUnicorn · Robotics · USA $4.4B
  6. 6 Ayar LabsUnicorn · Energy · USA $3.8B
  7. 7 NoomUnicorn · Health · USA $3.7B
  8. 8 AstranisUnicorn · Telecom · USA $2.8B
  9. 9 IllumioUnicorn · Security · USA $2.8B
  10. 10 Long WallUnicorn · Security · USA $2.4B
  11. 11 OnebriefUnicorn · Enterprise Software · USA $2.2B
  12. 12 MedableUnicorn · Health · USA $2.1B

Unicorns and thoroughbreds Small Business Innovation Research has backed and still holds, at Dealroom’s latest valuation. See the underlying shareholder registers on Dealroom →

02 · Exits

Small Business Innovation Research’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Small Business Innovation Research’s transaction record.

Intuitive Machines
$815M IPO · 2022
Now $2.8BSpace
NJOY
$2.8B acquisition · 2023
Entered Series B+Wellness Beauty
Kadmon
$651M IPO · 2016
Now $1.9BHealth
AMSC
IPO · 1991
Now $1.4BEnergy
TalkSpace
$1.4B IPO · 2021
Now $783MHealth
Factorial Energy
$1.3B IPO · 2026
Now $1.3BEnergy
Omada Health
$1.3B IPO · 2025
Now $1.2BHealth
03 · Portfolio analysis

Where Small Business Innovation Research’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 7,093 portfolio companies.

By countryCount
  1. USA6,633
  2. UK32
  3. Australia8
  4. Canada8
  5. France6
  6. Israel6
  7. Puerto Rico6
  8. Germany5
  9. India5
  10. Ireland4
  11. Italy4
  12. Singapore3
By sectorCount
  1. Health2,162
  2. Energy785
  3. Semiconductors764
  4. Robotics508
  5. Enterprise Software499
  6. Security387
  7. Transportation323
  8. Education236
  9. Food182
  10. Space159
  11. Media118
  12. Telecom115
By growth stageCount
  1. Early Growth5,344
  2. Breakout Stage1,058
  3. Mature394
  4. Late Growth266
04 · Portfolio market map

Inside Small Business Innovation Research’s portfolio.

The 60 highest-funded portfolio companies, of 7,093 tracked.

Anduril
Security · Decacorn
$61B
Shield AI
Robotics · Decacorn
$13B
Cerebras Systems
Semiconductors · Decacorn
$50B
Relativity
Space · Unicorn
$4.2B
Joby Aviation
Transportation · Unicorn
$7.0B
Scale
Enterprise Software · Decacorn
$29B
Ginkgo Bioworks
Health
$623M
Beta Technologies
Robotics · Unicorn
$4.0B
ŌURA
Health · Decacorn
$11B
Apptronik
Robotics · Unicorn
$5.5B
Astranis
Telecom · Unicorn
$2.8B
Twelve
Energy · Unicorn
$2.0B
Ayar Labs
Energy · Unicorn
$3.8B
Skydio
Robotics · Unicorn
$4.4B
Rocket Lab
Space · Decacorn
$51B
Boom Supersonic
Transportation · Unicorn
$1.2B
Noom
Health · Unicorn
$3.7B
Radiant Industries
Energy · Unicorn
$1.8B
Pivot Bio
Food · Unicorn
$2.0B
Varda Space
Health · Unicorn
$1.6B
Forterra
Robotics · Unicorn
$1.0B
Long Wall
Security · Unicorn
$2.4B
ICON Technology
Real Estate · Unicorn
$1.8B
Illumio
Security · Unicorn
$2.8B
Epirus
Security · Unicorn
$1.4B
Medable
Health · Unicorn
$2.1B
Tomorrow.io
Enterprise Software · Unicorn
$1.0B
Spire Global
Enterprise Software
$517M
Redesign Health
Health · Unicorn
$1.7B
Arvinas
Health
$12M
CesiumAstro
Telecom · Unicorn
$1.1B
Crinetics Pharmaceuticals
Health · Unicorn
$7.8B
Omada Health
Health · Unicorn
$1.2B
Builder
Enterprise Software
Castelion
Security · Unicorn
$1.4B
Boston Metal
Real Estate
$610M
Hermeus
Transportation · Unicorn
$1.0B
TalkSpace
Health
$783M
Infleqtion
Semiconductors · Unicorn
$1.8B
SAB Biotherapeutics
Health
$257M
Evolv Technology
Security · Unicorn
$1.1B
Lilac Solutions
Energy
$137M
BillionToOne
Health · Unicorn
$4.0B
Squarespace
Marketing · Unicorn
$7.2B
Ursa Major
Space
$600M
NJOY
Wellness Beauty · Unicorn
$2.8B
Mojo Vision
Semiconductors
$375M
Senti Biosciences
Health
$21M
6K
Energy
$328M
Factorial Energy
Energy · Unicorn
$1.3B
Solid Power
Energy
$299M
Gecko Robotics
Robotics · Unicorn
$1.3B
Onebrief
Enterprise Software · Unicorn
$2.2B
Loft Orbital
Space · Unicorn
$1.1B
Xona Space
Security
$680M
Reliable Robotics
Robotics · Unicorn
$1.0B
Visby Medical
Health · Unicorn
$1.0B
Editas Medicine
Health
$246M
AeroFarms
Food
ViaCyte
Health
$320M
05 · Portfolio founders

Where Small Business Innovation Research’s portfolio founders come from.

200 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States180
  2. United Kingdom3
  3. Finland2
  4. Peru2
  5. Canada1
  6. France1
  7. Germany1
  8. Luxembourg1
  9. Netherlands1
  10. Switzerland1
UniversityCount
  1. Stanford University24
  2. Massachusetts Institute of Technology20
  3. Cornell University14
  4. Harvard University11
  5. University of California, Berkeley9
  6. Carnegie Mellon University5
  7. University of Texas at Austin5
  8. Yale University5
  9. University of Michigan4
  10. University of Southern California4
Previous companyCount
  1. Stanford University12
  2. Alphabet | Google9
  3. SpaceX | xAI9
  4. Massachusetts Institute of Technology8
  5. MIT-IBM Watson AI Lab6
  6. Starlink6
  7. Modesat5
  8. NASA5
  9. Generation Orbit4
  10. Intel Corporation4
06 · Similar investors

Similar investors.

Peers the API surfaces as most similar by portfolio shape, with Dealroom investor rank and portfolio scale.

Bpifrance
Sovereign Wealth Fund · Maisons-Alfort
#94 rank 1,363 companies $165B portfolio
HTGF
Venture Capital · Bonn
#681 rank 578 companies $28B portfolio
Y Combinator
Accelerator · San Francisco
#62 rank 7,127 companies $1.9T portfolio
Alumni Ventures
Venture Capital · Manchester
#185 rank 802 companies $203B portfolio
Khosla Ventures
Venture Capital · Menlo Park
#53 rank 856 companies $1.9T portfolio
Kleiner Perkins
Private Equity · Menlo Park
#51 rank 778 companies $9.0T portfolio
MassChallenge
Accelerator · Boston
#10,963 rank 1,065 companies $20B portfolio
Plug and Play
Venture Capital · Sunnyvale
#410 rank 1,576 companies $290B portfolio
07 · Key people

Key people at Small Business Innovation Research.

Genevieve Lind
Program Manager, America's Seed Fund (SBIR/STTR Programs)
Elden Hawkes
Partnership and Innovation Specialist
Source: Curated from official investor team pages and verified public profiles.