Venture capital firm
BDT & MSD Partners portfolio
bdtmsd.comBDT & MSD Partners is a venture capital firm based in New York, United States, founded in 2023. It has invested in 25 venture-backed companies across 27 funding rounds on VCMC, and led 10 of those rounds. 5 of them were in the last 12 months.
25
Venture-backed companies
in its portfolio on VCMC
27
Funding rounds
led 10
5
Last 12 months
rounds, Oct 2025 to Sep 2026
19
With a disclosed valuation
of 25 companies
$349.4B
Combined value of its private companies
the whole companies, not what BDT & MSD Partners owns
25 private companies BDT & MSD Partners has backed have a VCMC valuation; together they are worth $349.4B. That is the value of the whole companies, not what BDT & MSD Partners owns. Stripe is 50% of the total. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Full BDT & MSD Partners portfolio (25 companies)
25 companies.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Stripe Payment Processing & Point of Sale · since Series H+, 2023 | Growth Equity Feb 2026 $159.00B | $173.0B | $138.2B – $207.9B | $180.8B (+4%) | $17.7B | 0% | 16,600 | growing | A | |
| 2 | Crusoe Hosting & Cloud Infrastructure Providers · since Series F, 2026 | Series F Sep 2026 $3.90B | $31.7B | $26.9B – $46.2B | $40.2B (+27%) | $4.4B | 0% | 1,720 | growing | A | |
| 3 | Metropolis Tech Companies · since Series C, 2023 | Debt Nov 2025 $1.10B | $6.8B | $4.3B – $7.9B | $6.9B (+1%) | $758M | 0% | 1,976 | growing | B | |
| 4 | Helsing Aerospace and Defence · since Series D, 2025 | Series E Jul 2026 $1.80B | $19.5B | $15.6B – $27.5B | $23.9B (+23%) | $2.9B | 0% | 895 | growing | A | |
| 5 | GoodLeap Loans & Financing · led at Growth, 2021 | Debt Oct 2026 $389M | $7.6B | $1.1B – $13.8B | $7.6B (0%) | $1.2B | 0% | 1,280 | up | D | |
| 6 | Flexport Trucking and Logistics · led at Series E, 2022 | Debt Jan 2023 $260M | $6.3B | $698M – $11.0B | $5.9B (-5%) | $1.3B | 20% | 2,949 | flat | D | |
| 7 | AlphaSense Tech Companies · led at Growth, 2024 | Growth Equity Jun 2026 $350M | $7.8B | $6.5B – $9.6B | $8.4B (+7%) | $754M | 0% | 3,406 | growing | A | |
| 8 | iCapital Investment Consultants & Financial Advisors · since Growth, 2021 | Growth Equity Jul 2025 $820M | $8.7B | $6.0B – $10.1B | $8.7B (0%) | $787M | 0% | 2,418 | up | A | |
| 9 | ElevenLabs Tech Companies · since Growth, 2026 | Growth Equity Sep 2026 $300M | $22.1B | $19.1B – $27.8B | $24.2B (+9%) | $2.4B | 0% | 1,425 | growing | A | |
| 10 | Neko Health Health Care Services · since Series C, 2026 | Series C Jul 2026 $700M | $7.6B | $6.1B – $10.8B | $9.4B (+24%) | $1.1B | 0% | 751 | growing | A | |
| 11 | SKIMS Underwear & Lingerie · since Growth, 2025 | Growth Equity Nov 2025 $225M | $5.7B | $4.3B – $6.7B | $5.8B (+1%) | $521M | 0% | 1,740 | growing | A | |
| 12 | Verkada Alarms, Surveillance & Security Systems · since Series D, 2022 | Growth Equity Dec 2025 $100M | $7.6B | $5.0B – $9.0B | $7.8B (+3%) | $702M | 0% | 6,345 | growing | A | |
| 13 | Cera Care Home Health Care · led at Growth, 2025 | Growth Equity Jan 2025 $139M | $1.7B | $798M – $2.6B | $1.7B (0%) | $169M | 0% | 1,327 | up | B | |
| 14 | Tech Companies · led at Series E, 2022 | Series E Jan 2022 $200M | $1.4B | $367M – $5.7B | $1.4B (-5%) | $575M | 71% | 56 | down | D | |
| 15 | Biotechnology · since Series B, 2020 | Series B Mar 2020 $19M | $63.7M | $7.16M – $204M | $61.3M (-4%) | $22.4M | 36% | 26 | flat | D | |
| 16 | Fish Farms · since Series A, 2025 | Series A Jun 2025 $8.0M | $70.0M | $20.4M – $107M | $70.0M (0%) | $11.3M | 0% | 36 | flat | C | |
| 17 | Insurance - Agents, Carriers & Brokers · led at Series C, 2023 | Series C May 2023 | $347M | $48.2M – $1.3B | $280M (-19%) | $71.6M | 36% | 25 | flat | D | |
| 18 | Insurance - Agents, Carriers & Brokers · since Growth, 2025 | Growth Equity May 2025 $2.10B | $33.3B | $23.6B – $40.3B | $29.5B (-11%) | $3.2B | 30% | 4,959 | up | A | |
| 19 | Tech Companies · led at Series E, 2022 | Series F Apr 2024 $130M | $1.3B | $335M – $1.5B | $1.0B (-20%) | $139M | 0% | 816 | flat | C | |
| 20 | Tech Companies · led at Series B, 2022 | Series C Sep 2026 $150M | $1.5B | $1.3B – $2.2B | $1.9B (+28%) | $207M | 0% | 243 | flat | A | |
| 21 | Tech Companies · since Series E, 2024 | Series E Apr 2024 $100M | $2.2B | $593M – $2.6B | $1.9B (-16%) | $246M | 0% | 870 | flat | C | |
| 22 | Tech Companies · since Growth, 2024 | Growth Equity Apr 2024 $125M | $1.5B | $432M – $2.4B | $1.2B (-17%) | $153M | 20% | 760 | flat | C | |
| 23 | Tech Companies · led at Series D, 2023 | Series D Jan 2023 $50M | $872M | $167M – $1.6B | $853M (-2%) | $116M | 0% | 277 | up | D | |
| 24 | Alarms, Surveillance & Security Systems · since Series A, 2021 | Series C Jul 2024 $45M | $434M | $154M – $547M | $358M (-17%) | $53.2M | 17% | 210 | flat | C | |
| 25 | Biotechnology · led at Series D, 2020 | Series D Jul 2020 $35M | $148M | $21.9M – $586M | $148M (0%) | $62.6M | 47% | 27 | flat | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How BDT & MSD Partners invests: stages, industries and countries
Most of its rounds are Series C and later (85%). Its companies span 14 industries, most in Tech Companies, Alarms, Surveillance & Security Systems and Biotechnology, across 8 countries.
Rounds by stage
- Series A 2
- Series B 2
- Series C and later 23
Investments by industry
- Tech Companies 9
- Alarms, Surveillance & Security Systems 2
- Biotechnology 2
- Insurance - Agents, Carriers & Brokers 2
- Aerospace and Defence 1
- Fish Farms 1
- Health Care Services 1
- Home Health Care 1
Investments by country
- United States 17
- United Kingdom 2
- Bahamas 1
- Canada 1
- France 1
- Germany 1
Recent rounds
BDT & MSD Partners' latest investments
BDT & MSD Partners' most recent funding rounds, newest first. 5 rounds in the last 12 months.
- ElevenLabs Growth $300M 30 Sep 2026
- Crusoe Series F $3.90B 17 Sep 2026
- Neko Health Series C $700M 15 Jul 2026
- SKIMS Growth $225M 12 Nov 2025
- Metropolis Series D $500M 6 Nov 2025
- Helsing Series D $690M 17 Jun 2025
- Series A $8.0M 9 Jun 2025
- Growth $2.10B 20 May 2025
- Cera Care Growth, led $139M 12 Jan 2025
- AlphaSense Growth, led $650M 11 Jun 2024
Co-investors
BDT & MSD Partners' top co-investors
The investors that most often join the same rounds as BDT & MSD Partners. Sapphire Ventures leads, with 4 rounds together.
- Sapphire Ventures 4 rounds together
- Andreessen Horowitz 4 rounds together
- Founders Fund 4 rounds together
- SoftBank Vision Fund 4 rounds together
- Lightspeed Venture Partners 3 rounds together
- Temasek 3 rounds together
- Blue Owl Capital 3 rounds together
- Goldman Sachs 3 rounds together
- General Catalyst 3 rounds together
- GIC 3 rounds together
About
About BDT & MSD Partners
BDT & MSD Partners, LLC is an American merchant bank and investment management company engaged in providing advisory and investment services, including investment banking and private equity. The company serves founders, families, and long-term investors globally, with offices in the United States, Europe, and the Middle East.
Description from Veridion's company data.
- Founded
- 2023
- Based in
- New York, United States
- Team
- 547 people, +19% in a year
- Type
- Venture capital firm
Focus markets
- Financial Services
What BDT & MSD Partners offers
- Investment Banking Advisory Services
- Private Equity Investment Management
- Tailored Capital Solutions Development
- Partnership-Driven Investment Structuring
- Diversified Asset Solutions Delivery
- Generational Business Advisory Services
- Long-Term Investor Solutions Development
- Relationship-Based Investment Consulting
Questions
BDT & MSD Partners: frequently asked questions
How many companies has BDT & MSD Partners invested in?
25 venture-backed companies on VCMC, across 27 funding rounds.
What are BDT & MSD Partners' most valuable private companies?
Stripe ($173.0B), Acrisure ($33.3B), Crusoe ($31.7B), by VCMC's valuation.
What was BDT & MSD Partners' latest investment?
ElevenLabs, a Growth round in Sep 2026 of $300M.
Which stages does BDT & MSD Partners invest in?
BDT & MSD Partners invests most often at Series C and later (23 rounds), followed by Series A (2) and Series B (2).
What is BDT & MSD Partners' portfolio worth?
Its private companies with a VCMC valuation are worth $349.4B together. That is the sum of the companies' values, not what BDT & MSD Partners owns.
Who does BDT & MSD Partners invest alongside?
Sapphire Ventures (4 rounds), Andreessen Horowitz (4 rounds), Founders Fund (4 rounds).