One in ten venture-backed companies has an MCP server
1,261 of 12,249 live companies across 227 venture and private equity portfolios run an MCP server. That is 10.3%, and the rate at which new ones appear doubled this year.
An AI assistant like ChatGPT or Claude can already tell someone about a company's product. With an MCP server, it can use the product: pull the report, place the order, book the demo. Without one, it cannot get in. Anthropic published the standard in late 2024, and OpenAI and Google adopted it in 2025.
Adoption doubled this year
In 2025, about 20 companies a month added an MCP server. In 2026 so far it is 43 a month. Six in ten of the servers we can date, 392 of 642, appeared since January 2026.
The spread between funds is wider than the spread between years
The median fund is at 14.4%. ICONIQ leads at 28.2%, followed by IVP at 25.5% and Sapphire at 22.0%. At the other end are Imaginary at 1.9%, Thoma Bravo at 4.1% and NEA at 5.8%.
Every buyout firm in the ranking sits in the bottom third: Vista Equity at 10.0%, Silver Lake at 8.7%, General Atlantic at 7.9%, TPG and Francisco Partners at 6.7%, Hellman & Friedman at 6.3% and Thoma Bravo at 4.1%. Owning a lot of enterprise software does not explain it on its own: Insight Partners is at 16.6%, above the median.
Size does not explain it either. The four largest portfolios all sit below the median: Y Combinator at 11.3% across 4,752 companies, Andreessen Horowitz at 11.2%, GV at 9.4% and NEA at 5.8%.
How to read the numbers
- 10.3% is the share of distinct companies: 1,261 of 12,249. A company held by two funds counts once.
- Fund rates count a company in every portfolio that holds it, which is why the median fund (14.4%) sits above the overall share.
- 1,822 companies that are no longer operating are excluded. 42 of the 227 portfolios are shown in the ranking.
- Every count is a minimum. A company can run an MCP server we did not find; it cannot be counted as having one it does not run.
Funds can request their own company-by-company breakdown at trymimetic.com.