An analysis of startups valued at $5 billion or more reveals that just nine venture capital funds have led the Series A rounds for over half of these companies since 2012. These funds include Andreessen Horowitz (a16z) with nine leads, Sequoia Capital with seven, Benchmark with six, Index Ventures and Accel each with five, Matrix Partners and Lightspeed Venture Partners with four, and Kleiner Perkins with three. Notable additions to the list of $5 billion-plus companies include Island (2022), Whatnot (2021), and Shield AI (2017). Benchmark notably led Series A rounds between 2012 and 2018 that resulted in 25-33% of its portfolio companies reaching valuations above $5 billion. Seed-stage investors also play a crucial role, with Y Combinator acting as a seed investor for 20% of these startups and Initialized Capital co-leading seed rounds for three of them. The data highlights a concentrated VC landscape where a few key firms dominate major outcomes, and continuity from seed to Series A rounds appears common among the most successful companies. This concentration underscores the importance of securing early investment from top-tier venture capital firms to achieve high enterprise valuations.