Bessemer Ventures has launched its tenth fund, BVP X, which at USD1.85 billion is slightly larger than the company’s earlier funds, but it will adopt the same approach that has seen a total of 122 Bessemer-backed companies go public to date.
BVP X will look to invest early in promising technology companies and stick with those organisations and their leaders at every stage of the company’s growth. Each of Bessemer’s 14 partners has the decision-making autonomy to provide entrepreneurs with their first USD1 million (or USD50,000) as well as support late-stage companies with a USD100 million investment.
Bessemer says: “Buried deep in our identity is a tightknit group of independent partners. We ask hard questions of each other, always looking to point out blind spots and get a better sense of the unseen and unknown. Moreover, we partner with hundreds of entrepreneurs in much the same way: asking the tough questions, making meaningful connections with our extended Bessemer family, jumping on midnight calls, and letting them do what they need to do to build revolutionary companies.”
“In the past few years alone, since the launch of BVP IX, many of these Bessemer-backed entrepreneurs have gone public with multi-billion-dollar market capitalisations or joined forces with other companies through acquisition.”