Bessemer Venture Partners closes $4.6B across two new funds

Bessemer Venture Partners on Friday announced the closing of $4.6 billion in new capital across two funds—$3.85 billion for its 12th flagship fund BVP XII and $780 million for its inaugural BVP Forge fund.

According to a statement, the two new funds will allow the venture capital firm to back entrepreneurs and startups across all stages of growth.

Bessemer Venture Partners focuses on early and growth-stage venture capital investments through its current $2.475 billion BVP XI fund, $825 million Century II growth fund, and $220 million early-stage focused India fund raised in 2021.

Jeremy Levine, Partner in Bessemer’s New York office, said, “Over the decades, Bessemer has successfully navigated and supported entrepreneurs through times of rapid change and market volatility. Innovation thrives during these periods and remains true amid today’s more challenging market as we partner with founders to build enduring companies.”

Bessemer has over $20 billion in Assets Under Management (AUM). In 2021, the VC firm saw 12 IPOs, five public listings, and nine mergers and acquisitions (M&A) exits within its portfolio.

The BVP XII fund will focus on seed and early-stage investments in companies spanning enterprise, deeptech, fintech, consumer, and healthcare.

According to Bessemer, the $780 million Forge fund is designed for growth buyout and significant minority transactions in software and tech-enabled services businesses.

“BVP Forge allows us to widen our ability to support management teams seeking liquidity and wanting a hands-on partner to navigate through their next stage of growth,” said Bessemer Partner Brian Feinstein.