Bessemer Venture Partners closes largest fund yet at $1.85b

US-based venture capital firm Bessemer Venture Partners, which is also a prominent investor in India, has closed its largest fund yet at $1.85 billion.

Through the new fund BVP X, Bessemer will continue to invest in early-stage technology companies from seed to Series B levels through its 14 offices across the US, Israel, and India. The venture capital firm invests through a single fund and makes investments across the board ranging from $50,000 to $100 million.

“The firm will invest in their areas of expertise and experience spanning consumer, enterprise to healthcare and software to hardware, transforming existing industries and creating revolutionary ones,” Bessemer said in an official statement.

The latest fund, follows Bessemer’s $1.6 billion ninth fund that it had raised in 2015 and another $1.6 billion fund in 2011. Since BVP IX’s launch in 2015, nine Bessemer-backed companies have gone public with multi-billion-dollar valuations, including Shopify, Twilio, SendGrid, DocuSign, MindBody, Box, Instructure, 2U, and Wix.

Overall, the company has advised 122 companies from their early days to their public debuts including multi-billion dollar firms like LinkedIn, Skype and Yelp. Currently it has a portfolio of over 200 companies, including Pinterest, Betterment, Smule, Rocket Lab among others.

According to BVP,  around 30 per cent of its portfolio companies are based outside the US. “The firm will keep its global focus with BVP X and (will) continue to bring this global exposure and experience to its portfolio companies,” it said.

Within India, as well Bessemer has some prominent picks in its portfolio, including Uber’s local rival Ola, online grocery major BigBasket, local services marketplace Urban Clap and food delivery firm Swiggy, which is reportedly on its way to be valued at round $2 billion.

It has been active in India for over a decade and has invested about $700 million across around 50 portfolio companies.

It has also seen good returns on its investments in Matrimony.com, Motilal Oswal, Kiran Energy among others.

Earlier this year, managing director Vishal Gupta, who heads the India office of Bessemer said the company was looking to invest around $40-50 million.

Recently, Zephyr Peacock India, part of a larger US-based group, raised around $33 million so far for its fourth fund focused on small and medium enterprises (SMEs). US-based Zephyr has sponsored 22 investment funds in both public and private securities markets representing approximately $1.2 billion in combined commitments and assets under management. The company is reportedly looking to raise around $125-150 million for its fourth India-focussed fund, targeted at sectors such as financial services, food and agriculture, infrastructure and services.

Also Read:

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India-focused PE fund Zephyr Peacock raises $33m for fourth fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.