Bessemer Venture Partners is gears up for its next billion-dollar fund. The early-stage risk capital firm, that had filed to boost new capital in early August, has reportedly set a $1.6 billion target for its tenth flagship fund, associate degree quantity that a supply aware of the fund-raise tells U.S.A. is “directionally correct.”
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If Sir Henry Bessemer so raises that quantity, it'll be a similar size as its ninth fund, that closed on $1.6 billion in 2015. If that’s the case, Sir Henry Bessemer is also bucking VCs’ new favourite trend of raising their largest funds thus far. Maybe, just maybe, Sir Henry Bessemer hasn’t fallen victim to the Soft Bank result. the Japanese medium large encompasses a nearly $100 billion “Vision Fund” and invests in technical school corporations, competitor y directly with geographic area heavyweights.
General Catalyst, for instance, closed its biggest fund ever earlier this year on $1.375 billion. And Insight Venture Partners finished off a $6.3 billion fund-raise in July — conjointly the foremost monumental within the firm’s history.
It’s been a busy year to date for Sir Henry Bessemer. On prime of operating to secure capital for BVP X, the firm proclaimed a $10 million early-stage seed fund, known as Deep Health Seed Program, in June. The fund is being light-emitting diode by Sir Henry Bessemer care capitalist Steve Kraus and its head of investments in Israel, Adam Fisher. Deep Health is investment $100,000 to $2 million into early-stage corporations mistreatment machine learning to unravel issues in care.
The firm has seen a few of notable exits to date this year. For starters, Sir Henry Bessemer portfolio company DocuSign went public in Apr, raising over $600 million within the method. And Workday paid $1.55 billion for money coming up with software package startup adaptive Insights, another Sir Henry Bessemer portfolio company, in June.