The Distributed Studio Index™ · Q2 2026 · Quarterly Refresh
Venture studios,
graded.
The Distributed Studio Index™ rates 53 venture studios across independent, corporate, university, and boutique categories on five weighted dimensions. Published by STEALTH. In-archive sourced. Studios cannot pay to improve their grade.
53
Studios Rated
13
A-Grade
34
B-Grade
3
C/D-Grade
3
F / Defunct
Idealab
A
/ Independent Studio
Bill Gross's Pasadena studio founded 1996 — the canonical American venture studio. 150+ companies launched (eToys, GoTo.com/Overture acquired by Yahoo, Energy V…
Atomic
A
/ Independent Studio
Jack Abraham–founded SF studio (2012). Hims & Hers (NYSE: HIMS), Bungalow, OpenStore, Replicant. Defining contemporary venture-studio architecture for the AI / …
Entrepreneur First (EF)
A
/ Independent Studio
London-founded talent-investor + studio hybrid (Matt Clifford, Alice Bentinck, 2011). Cohort-driven model: invests in individuals pre-company, helps them find c…
Stealth 1000
A
/ Independent Studio
Ali Sina–led distributed venture studio (2018-onward, with portfolio acceleration 2023-2026). 600+ companies in portfolio across the Distributed Studio Architec…
AI Fund (Andrew Ng)
A-
/ Independent Studio
Andrew Ng–led venture studio focused exclusively on AI company formation. Reference studio for the post-2020 AI venture studio archetype.
Pioneer Square Labs (PSL)
A-
/ Independent Studio
Seattle-based studio founded 2015 (Greg Gottesman, Mike Galgon, others). PSL Studio + PSL Ventures (parallel VC fund). Recognized Pacific Northwest studio with …
X (Alphabet's Moonshot Factory)
A
/ Corporate VS
Alphabet's moonshot factory (Astro Teller, 2010). Waymo, Wing, Loon (sunset 2021), Glass, Tidal. Reference corporate-VS for deep-tech and long-horizon company f…
Betaworks
A-
/ Independent Studio
John Borthwick–led NYC studio (2008). Bit.ly, Chartbeat, Giphy ($400M to Meta — later divested antitrust), Tumblr (acquired by Yahoo). Themed-incubation cohorts…
High Alpha
A-
/ Independent Studio
Indianapolis-based B2B SaaS venture studio (2015, Scott Dorsey + ExactTarget alumni). High Alpha Studio + High Alpha Capital. Strong Midwest enterprise-software…
BCG Digital Ventures (BCG X)
A-
/ Corporate VS
BCG's corporate venture studio + design + AI practice (rebranded 'BCG X' 2023). Corporate-partner studio model: F500 sponsors fund studio teams to launch new ve…
Stanford StartX
A-
/ University Studio
Stanford-affiliated startup studio + accelerator. Strong network adjacency to Stanford CS + Stanford ecosystem. Equity-free (Stanford-affiliated) historical mod…
Sutter Hill Ventures (Studio Mode)
A-
/ Institutional Studio
Sutter Hill operates with studio characteristics for select formations — Snowflake is the canonical example (Mike Speiser as founding CEO before recruiting Fran…
MIT The Engine
A-
/ University Studio
MIT-affiliated deep-tech venture studio + 'tough tech' incubator. Focus on capital-intensive + long-horizon deep-tech (fusion, materials, climate).
Founders Factory
B+
/ Independent Studio
London-based studio (2015, Brent Hoberman, Henry Lane Fox). Corporate-partner model: corporate sponsors (L'Oreal, Aviva, etc.) fund studio operations in exchang…
Antler
B+
/ Independent Studio
Magnus Grimeland–founded global studio (2017, Singapore-launched, now 25+ cities). Cohort-driven pre-formation studio similar to EF but with higher throughput +…
Allen Institute for AI Incubator (AI2)
B+
/ University Studio
AI2 (Paul Allen Institute) AI-focused incubator + studio. Strong AI research-to-company conversion track.
Human Ventures
B+
/ Independent Studio
Heather Hartnett–led NYC studio (2015). Consumer + future-of-work focus; multiple successful exits (Tinybop, Geneva, Sundae).
Bell Labs (Nokia)
B+
/ Corporate VS
Legendary research lab + venture creation (now Nokia-owned). Reduced scale from peak; some venture creation continues. Strong heritage + IP portfolio.
Expa
B+
/ Independent Studio
Garrett Camp (Uber co-founder)–led SF studio (2013). Reefer (acquired), Operator, Mix, Trip.com partnership. More selective than peer studios; founder-operator …
Harvard Innovation Labs (i-lab)
B+
/ University Studio
Harvard-affiliated startup studio + incubator. Cross-Harvard-school student + alumni venture creation. Equity-free model.
Innovation Endeavors
B+
/ Independent Studio
Eric Schmidt–backed studio + venture firm (2010). Bridges studio formation + later-stage venture. Climate-tech + AI focus in 2020-2026.
McKinsey Leap
B+
/ Corporate VS
McKinsey's business-building practice (formerly McKinsey Growth, now Leap). Corporate-client venture creation; strong industrial + healthcare verticals.
WndrCo (Katzenberg)
B+
/ Independent Studio
Jeffrey Katzenberg's NYC + LA studio + venture-creation practice (post-Quibi). Media + consumer + tech focus.
8VC Studio Practice
B+
/ Institutional Studio
8VC's studio + venture-creation practice (Joe Lonsdale–led). Enterprise software + GovTech focus.
Mosaic Ventures
B+
/ Independent Studio
Mike Chalfen + Toby Coppel–led London studio + VC fund (2014). Hybrid studio-VC, primarily VC with selective incubation. Bridges European fintech and consumer.
Nordic Makers
B+
/ Independent Studio
Stockholm-based Nordic-focused studio + venture-creation practice.
Accenture Industry X (Studio Practice)
B+
/ Corporate VS
Accenture's industrial-AI + digital corporate venture studio practice.
Deloitte Pixel (Studio Practice)
B+
/ Corporate VS
Deloitte's corporate venture studio practice. Internal company formation for Deloitte F500 clients. Less brand-visible than BCG X but comparable corporate-studi…
Founders Inc
B+
/ Independent Studio
SF-based studio + community (Jake Lodwick, others). Defi + consumer crypto + venture studio formation. Community-driven model.
Lerer Hippeau Studio Practice
B+
/ Boutique Studio
Lerer Hippeau's NYC studio + venture-creation practice. Consumer + DTC focus with NYC media adjacency.
Venture Architects (Australia/APAC)
B+
/ Independent Studio
APAC-based venture studio with cross-border (Australia, Singapore, China) operations.
Bain Vector / Founder's Studio
B+
/ Corporate VS
Bain's corporate-venture-studio practice. Less visible than McKinsey Leap or BCG X but comparable model.
Kleiner Foundation Platform
B+
/ Boutique Studio
Kleiner Perkins's emerging founder-platform + studio-adjacent operations. Primarily VC.
Cake Ventures
B+
/ Boutique Studio
Newer NYC studio + early-stage venture firm.
Founder Friendly Labs
B
/ Boutique Studio
Specialty boutique studio with founder-friendly equity structures.
Rebel Fund Studio Mode
B
/ Boutique Studio
Rebel Fund's selective studio mode (Jared Heyman). YC-alumni focus.
AngelList Operator
B
/ Boutique Studio
AngelList's emerging studio + operator-LP practice.
Founder's Pledge Studio
B
/ Boutique Studio
Smaller specialty studio focused on impact + climate-tech ventures.
IBM Garage
B
/ Corporate VS
IBM's enterprise-client innovation + venture-creation practice. Enterprise + industrial AI focus.
Mucker Capital
B
/ Independent Studio
Erik Rannala–led LA studio (2011). Studio + early-stage VC hybrid. Mid-size LA studio with strong B2B SaaS portfolio.
Carta's Internal Studio Practice
B
/ Corporate VS
Carta's selective internal venture-creation practice.
Flexport First Mile Studio
B
/ Corporate VS
Flexport's logistics + supply-chain venture studio practice.
KPMG Studio
B
/ Corporate VS
KPMG's corporate venture studio practice. Mid-tier compared to McKinsey Leap / BCG X.
Onyx by JP Morgan
B
/ Corporate VS
JP Morgan's blockchain + corporate-venture studio practice.
Studio PRIME
B
/ Independent Studio
Emerging studio brand (multiple sub-brands operate). Smaller-scale operations; primarily B2B SaaS focus.
EY Studios+
B
/ Corporate VS
EY's corporate venture studio practice.
Goldman Sachs Accelerate
B
/ Corporate VS
Goldman Sachs's corporate-innovation + venture-creation practice.
Techstars Studio Practice (Restructured)
C+
/ Boutique Studio
Techstars has historically operated more as accelerator than studio; studio practice is selective. Operational restructuring in 2024-2025 has reduced studio act…
Rocket Internet
D+
/ Distressed
Samwer brothers' Berlin clone-factory studio (2007). Once-massive scale (Zalando, HelloFresh formation roots); operational scale has reduced dramatically since …
All Turtles
D
/ Distressed
Phil Libin–founded SF + Paris studio (2017). Reduced operations + portfolio acceleration since 2022. Effectively dormant in 2024-2026 with reduced public visibi…
Expand VC Studio Mode
F
/ Defunct
Smaller studio attempt that effectively ceased operations 2022-2023.
Lambda School / Bloom Studio
F
/ Defunct
Lambda School's attempted studio practice never materialized post-rebrand to Bloom Institute of Technology. Lambda School itself collapsed under regulatory + fi…
WeWork Labs
F
/ Defunct
WeWork's startup-acceleration + studio practice. Closed in 2020 as WeWork restructured post-IPO-failure.
/ Institutional Access
Venture-studio data, on the desk.
The DSI is available as a RESTful API and bulk export for LPs, corporate development teams, sovereign-wealth funds, and trade press. Three tiers — Research, Institutional, Enterprise.