Benchmark Capital breaks 20-year tradition, raises $2B including first-ever growth fund
By
Marina Temkin
Summary
Benchmark Capital, a legendary Silicon Valley VC firm known for early bets on eBay, Snap, Uber, and Twitter, has broken its long-standing tradition of capping funds at ~$425 million. The firm raised $2 billion across two new funds, including a $1.25 billion vehicle dedicated to later-stage (growth) investments — its first-ever growth fund. This marks a significant strategic shift after more than two decades of focusing exclusively on early-stage startups.
Source
bskyBenchmark Capital breaks 20-year tradition, raises $2B including first-ever growth fundtechcrunch.comKey quotes
· 3 pulledAfter more than two decades of restricting its vehicles to that amount or lower, the outfit has closed on commitments of $2 billion across two new funds, including a $1.25 billion vehicle dedicated to later-stage investments.
Benchmark Capital, the storied Silicon Valley VC firm known for early investments in eBay, Snap, Uber, and Twitter, is breaking with one of its signature traditions: keeping its funds to about $425 million and backing only young startups.
The legendary abandons its more than 20 year tradition of keeping its funds to about $425 million.
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