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At a glance
T. Rowe Price appears in 15 funding rounds tracked by ValueAddVC since 2025, leading 2. Its most frequent sectors in these rounds are Defense & Space and Fintech & Crypto, and its most recent tracked deal was Tenstorrent's $1.5B Series E round (Oct 19, 2026). It co-invests most often with Andreessen Horowitz, Coatue Management and Founders Fund.
Strategy
Geographies
Baltimore, Maryland, USA
Recent changes
- Oct 19, 2026Oct 19, 2026Invested in Tenstorrent (Series E, $1.5B) Reuters (via Investing.com)
- Oct 15, 2026Oct 15, 2026Follow-on: Invested in Ramp (primary financing, $1.85B) Morningstar
- Oct 8, 2026Oct 8, 2026Invested in Waymo (Debt, $5B) TechCrunch
- Sep 23, 2026Sep 23, 2026Invested in Enveda Biosciences (Series E, $311M) Tech Startups
- Sep 14, 2026Sep 14, 2026Invested in Temporal (Series E, $550M) Temporal
Earlier changes (11)
- Aug 19, 2026Aug 19, 2026Invested in Castelion (Series C, $800M) Castelion
- Aug 13, 2026Aug 13, 2026Invested in Databricks (Strategic growth round, $5B) Bloomberg
- Aug 12, 2026Aug 12, 2026Invested in Form Energy (Series G, $750M) TechCrunch
- Aug 6, 2026Aug 6, 2026Follow-on: Invested in Hadrian (Series D, $1.37B) Hadrian
- Jul 21, 2026Jul 21, 2026Invested in Sila (Growth, $300M) Sila
- Jul 8, 2026Jul 8, 2026Invested in SambaNova (Series F, $1B) TechCrunch
- Jun 25, 2026Jun 25, 2026Invested in Airwallex (Series H, $320M) Airwallex
- Mar 31, 2026Mar 31, 2026Invested in OpenAI ($122B) TechCrunch
- Jan 10, 2026Jan 10, 2026Invested in Hadrian (Undisclosed) Pulse 2.0
- Nov 20, 2025Nov 20, 2025Invested in Physical Intelligence ($600M) SiliconANGLE
- Nov 17, 2025Nov 17, 2025Invested in Ramp (Series E-2, $300M) PR Newswire
Portfolio
16 totalRecent Investment Activity
16Track record: led 2 and participated in 13 of 15 tracked venture rounds · 15 in the last 12 months · led 1 Series G
| Date | Company | Event | Role | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|---|---|
| Oct 19, 2026 | Tenstorrent | Series E | Participated | $1.5B | $6.2B | ARK InvestunverifiedSanDiskunverifiedMorgan StanleyunverifiedT. Rowe PriceunverifiedEclipse VenturesTechCrunch · unverifiedFidelity InvestmentsTechCrunch · unverifiedTrace CapitalInnovation XTether Investments | Reuters (via Investing.com) |
| Oct 15, 2026 | Ramp | primary financing | Participated | $1.85B | $60B | Dragoneer Investment GroupLeadunverifiedThrive CapitalunverifiedFounders FundunverifiedSands CapitalunverifiedFidelity InvestmentsunverifiedT. Rowe PriceunverifiedD1 Capital PartnersunverifiedGreenoaksunverifiedIconiq CapitalunverifiedGICunverified8VCunverifiedCoatue ManagementunverifiedFirstMark CapitalunverifiedGeneral CatalystunverifiedKhosla VenturesunverifiedLightspeed Venture PartnersunverifiedStripes GroupunverifiedAvenir GrowthD.E. Shaw | Morningstar |
| Oct 8, 2026 | Waymo | Debt | Participated | $5B | $126B | BlackstoneLeadunverifiedSixth StreetunverifiedCapital GroupunverifiedT. Rowe PriceunverifiedApollo Global ManagementunverifiedBlue Owl CapitalunverifiedFranklin TempletonunverifiedFidelity InvestmentsunverifiedPIMCOLoomis SaylesDiameter Capital PartnersHPS Investment Partners | TechCrunch |
| Sep 23, 2026 | Enveda Biosciences | Series E | Participated | $311M | ~$2B | Tech Startups | |
| Sep 14, 2026 | Temporal | Series E | Participated | $550M | $12.55B | Temporal | |
| Aug 19, 2026 | Castelion | Series C | Participated | $800M | $13B | Castelion | |
| Aug 13, 2026 | Databricks | Strategic growth round | Participated | $5B | $190B | Coatue ManagementLeadunverifiedBlackstoneunverifiedMGXunverifiedT. Rowe PriceunverifiedSixth StreetunverifiedBondunverifiedPoint72unverifiedPremji InvestunverifiedTPGunverifiedAndreessen HorowitzunverifiedThrive CapitalunverifiedClearlake Capital | Bloomberg |
| Aug 12, 2026 | Form Energy | Series G | Led | $750M | — | TechCrunch | |
| Aug 6, 2026 | Hadrian | Series D | Participated | $1.37B | $7.87B | Washington Harbour PartnersLeadunverifiedValor Equity PartnersLeadunverified137 VenturesLeadunverifiedBaillie GiffordLeadunverifiedJPMorganChase Strategic Investment GroupLeadunverified1789 CapitalunverifiedApollo Global ManagementunverifiedT. Rowe PriceunverifiedCapitalGunverifiedAndreessen HorowitzunverifiedFounders FundunverifiedLux CapitalunverifiedAltimeter CapitalunverifiedConstruct CapitalunverifiedWCM Investment ManagementMorgan Stanley Wealth Management | Hadrian |
| Jul 21, 2026 | Sila | Growth | Participated | $300M | — | Sila | |
| Jul 8, 2026 | SambaNova | Series F | Participated | $1B | $11B | TechCrunch | |
| Jun 25, 2026 | Airwallex | Series H | Participated | $320M | — | AdditionLeadFortuneBaillie GiffordFortuneT. Rowe PriceFortuneAmerican Express VenturesFortune · unverifiedHummingbirdunverifiedQED InvestorsunverifiedHedosophiaunverifiedHaun VenturesunverifiedWashington University in St. Louis | Airwallex |
| Mar 31, 2026 | OpenAI | funding round | Participated | $122B | $852B | TechCrunch | |
| Jan 10, 2026 | Hadrian | funding round | Led | Undisclosed | $1.6B | T. Rowe PriceLeadunverifiedAltimeter CapitalunverifiedD1 Capital PartnersunverifiedStepStone Groupunverified1789 CapitalunverifiedFounders FundunverifiedLux CapitalunverifiedAndreessen HorowitzunverifiedConstruct Capitalunverified | Pulse 2.0 |
| Nov 20, 2025 | Physical Intelligence | funding round | Participated | $600M | $5.6B | SiliconANGLE | |
| Nov 17, 2025 | Ramp | Series E-2 | Participated | $300M | $32B | PR Newswire |
Sector / Stage Activity
By sector (portfolio)
AI infra
3 · 19%
Fintech
2 · 13%
Defense
2 · 13%
Robotics
2 · 13%
Semiconductors
2 · 13%
Developer tools
1 · 6%
Biotech
1 · 6%
Energy
1 · 6%
Battery materials
1 · 6%
By stage (tracked rounds)
Series E
3 · 19%
primary financing
1 · 6%
Debt
1 · 6%
Series C
1 · 6%
Strategic growth round
1 · 6%
Series G
1 · 6%
Series D
1 · 6%
Growth
1 · 6%
Series F
1 · 6%
Series H
1 · 6%
Co-Investors
12Andreessen Horowitz · 7 sharedFidelity Investments · 6 sharedSequoia Capital · 5 sharedAlpha Wave Global · 4 sharedAltimeter Capital · 4 sharedCoatue Management · 4 sharedFounders Fund · 4 sharedHanwha Asset Management · 4 sharedInterlagos · 1 sharedLavrock Ventures · 1 sharedSanDisk · 1 sharedSutter Hill Ventures · 1 shared
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Latest Pulse
- Oct 19, 2026Tenstorrent Raises $1.5B | Valuation More Than Doubles To $6.2BTenstorrent raised $1.5 billion in a Series E led by Trace Capital and Innovation X, valuing the RISC-V AI chip startup at $6.2 billion post-money -- more than doubling its December 2024 mark.→
- Oct 15, 2026Ramp Hits $60B Valuation | Revenue Tops $2B AnnualizedRamp raised a $1.85 billion primary round led by Dragoneer Investment Group, valuing the corporate card and spend-management startup at $60 billion as its annualized revenue passed $2 billion.→
- Oct 8, 2026Waymo Takes On $5B In Debt To Fuel Robotaxi ExpansionWaymo secured its first-ever debt financing -- a $5 billion loan led by Goldman Sachs with PIMCO, Blackstone and Sixth Street -- to fund robotaxi expansion beyond its 15 current markets without diluting equity holders.→
- Sep 30, 2026ElevenLabs Tender Doubles Valuation To $22BElevenLabs closed a $300 million employee tender offer that doubled its valuation to $22 billion, without the company raising a dollar of primary capital.→
- Sep 25, 2026ADARx Prices $446M IPO, Debuts As ADRXADARx Pharmaceuticals priced an upsized $446 million IPO at $17 a share and began trading on the Nasdaq as ADRX, joining the fall biotech IPO window alongside its existing AbbVie drug partnership.→
- Sep 24, 2026Why AI Deals Are Repricing In Months, Not YearsFour venture-backed companies repriced at two to five times their own prior valuation marks in six weeks, and only one of them trains foundation models -- evidence investors are underwriting growth speed broadly, not just an AI-label premium.→
- Sep 23, 2026Enveda Biosciences Raises $311M Series E At $2BBoulder-based Enveda Biosciences raised a $311 million Series E led by Catalio Capital Management at roughly a $2 billion valuation, funding its AI platform that mines natural compounds for new drug candidates.→
- Sep 21, 2026Temporal Raises $550M As Agentic AI Needs Durable CodeTemporal Technologies raised a $550 million Series E (announced September 14) at a $12.55 billion valuation led by Lightspeed, as demand for durable execution infrastructure grows alongside longer-running agentic AI workloads.→
- Sep 7, 2026Defense Tech's Two Speeds: Hypersonics and Everyone ElseCastelion's $13 billion valuation and Shield AI's $12.7 billion mark show defense-tech capital concentrating hard in a handful of hardware primes-in-waiting, while smaller Tier 2/3 suppliers are left to roll up instead of raise.→
- Aug 20, 2026August's AI Infrastructure Deals Already Top $8.7BDatabricks' $5B raise, Firmus' $2B round, Castelion's $1B Series C and Etched's $700M add up to $8.7B in AI infrastructure and adjacent capital-intensive funding in August alone.→
- Aug 20, 2026Castelion Hits $13B Value on $1B Hypersonic Missile RoundCastelion, the hypersonic-missile startup founded by former SpaceX executives, raised a $1B Series C co-led by Andreessen Horowitz, Carlyle and JPMorgan Chase at a $13B valuation, more than double its prior mark.→
- Aug 17, 2026Inside AI Infra's Money Trail: Databricks to FireworksDatabricks' $5 billion round at a $190 billion valuation, Together AI's doubled $8.3 billion mark, and Fireworks AI's leap to $17.5 billion trace a single financing pattern reshaping AI infrastructure investing.→
- Aug 17, 2026August's Mega-Rounds Have Already Cleared $9BFive disclosed rounds in the first two weeks of August 2026 -- Databricks, Firmus, River AI, Lovable and Form Energy -- total roughly $9.25 billion, with data infrastructure and AI compute taking three quarters of it.→
- Aug 14, 2026Form Energy Raises $750M to Scale Grid BatteriesForm Energy raised $750 million led by T. Rowe Price to scale its 100-hour iron-air grid battery technology, the third-largest round in Crunchbase's tracking of this week's biggest U.S. deals behind Databricks and River AI.→
- Aug 13, 2026Databricks Closes $5B Round at $190B ValuationDatabricks closed a $5 billion round at a $190 billion valuation led by Coatue, after the company said it crossed a $7 billion annualized revenue run-rate with more than 80% year-over-year growth.→
- Aug 12, 2026Form Energy Raises $750M for 100-Hour Grid BatteriesForm Energy raised a $750 million Series G led by T. Rowe Price to expand its iron-air batteries, which store power for up to 100 hours and are being bought by Google, Xcel Energy and Crusoe for AI data center power.→
- Jul 21, 2026Sila Raises $300M to Expand US Silicon Anode ManufacturingBattery materials startup Sila raised $300 million to expand its Washington state factory, bucking the EV slowdown with a silicon-carbon anode material already supplying Mercedes and Panasonic.→
- Jul 8, 2026SambaNova Raises $1B at $11B Valuation for AI ChipsSambaNova closed the first tranche of a $1 billion Series F at an $11 billion valuation, just five months after its last mega round, with General Atlantic leading and JPMorganChase signing on as an inference partner.→
- Jul 1, 2026Bending Spoons Defies the SaaS Slump, Surges 40% on IPO Day to a $25.7BMilan-based Bending Spoons priced its IPO at $29 per share, raised $1.68 billion, and closed its first trading day up 40% at $40.50, pushing its market cap to $25.7 billion -- more than double its prior $11 billion private valuation -- TechCrunch reported.→
T. Rowe Price FAQ
What companies has T. Rowe Price invested in?
T. Rowe Price's portfolio includes OpenAI, Tenstorrent, Ramp, Waymo, Databricks, Enveda Biosciences, and 10 more tracked companies.
Who does T. Rowe Price co-invest with most?
In the rounds Value Add tracks, T. Rowe Price most often invests alongside Andreessen Horowitz (7 shared deals), Fidelity Investments (6 shared deals), Sequoia Capital (5 shared deals), Alpha Wave Global (4 shared deals), Altimeter Capital (4 shared deals).
Sources & methodologyshow
Where these figures come from
- Airwallexprimary source1 fact
- Castelionprimary source1 fact
- Hadrianprimary source1 fact
- PR Newswireprimary source1 fact
- Silaprimary source1 fact
- Temporalprimary source1 fact
- Bloombergmajor outlet1 fact
- SiliconANGLEmajor outlet1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.