Key Takeaways
- • Bessemer Venture Partners announced the close of $4.6 billion in new capital across two funds: $3.85 billion for its twelfth flagship fund, BVP XII, and $780 million for its inaugural BVP Forge fund.
- • BVP XII will focus on seed and early-stage investments in enterprise, deep tech, fintech, consumer, and healthcare companies across a global team footprint.
- • BVP Forge targets growth buyouts and significant minority transactions in software and tech-enabled services, led by Partners Rob Arditi and Navid Oreizy.
- • Bessemer has elected to become a registered investment advisor with the SEC, expanding its ability to invest across a wider range of assets and stages.
- • The firm reports more than $20 billion in assets under management and, per the release, 12 IPOs, five public listings, and nine M&A exits in its portfolio in 2021.
Summary
Bessemer Venture Partners announced the close of $4.6 billion in new capital across two funds, according to a Business Wire release dated September 8, 2022. The package comprises $3.85 billion for BVP XII, the firm's twelfth flagship fund, and $780 million for BVP Forge, its inaugural fund dedicated to growth buyouts. The firm said the two vehicles allow it to back entrepreneurs and management teams across all stages of growth, regardless of maturity or structure.
BVP XII will enhance the firm's primary focus on seed and early-stage investments in companies spanning enterprise, deep tech, fintech, consumer, and healthcare. Bessemer operates teams in Silicon Valley, San Francisco, New York, Boston, London, Tel Aviv, Beijing, and Bangalore. Jeremy Levine, a partner in Bessemer's New York office, said the firm continues to invest through what he described as a more challenging market. The release notes the firm's current vehicles include the $2.475 billion BVP XI fund, the $825 million Century II growth fund, and a $220 million India-focused early-stage fund, all raised in 2021.
BVP Forge is designed for growth buyout and significant minority transactions in software and tech-enabled services businesses. The fund will pair capital with its ForgeEdge operational program and is led by Partners Rob Arditi and Navid Oreizy. Brian Feinstein, a Bessemer partner who championed the expansion into growth buyouts, said the fund widens the firm's ability to support management teams seeking liquidity.
Bessemer has also elected to become a registered investment advisor with the Securities and Exchange Commission. According to the release, this status opens opportunities to invest across a wider range of assets at various stages. Chief strategy officer Scott Ring said the venture and growth private equity platforms are structured to remain focused on their respective investment stages, and credited the firm's limited partners and track record for the fundraise.
The firm manages more than $20 billion in assets and counts Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast among its portfolio companies.
BVP XII will enhance the firm's primary focus on seed and early-stage investments in companies spanning enterprise, deep tech, fintech, consumer, and healthcare. Bessemer operates teams in Silicon Valley, San Francisco, New York, Boston, London, Tel Aviv, Beijing, and Bangalore. Jeremy Levine, a partner in Bessemer's New York office, said the firm continues to invest through what he described as a more challenging market. The release notes the firm's current vehicles include the $2.475 billion BVP XI fund, the $825 million Century II growth fund, and a $220 million India-focused early-stage fund, all raised in 2021.
BVP Forge is designed for growth buyout and significant minority transactions in software and tech-enabled services businesses. The fund will pair capital with its ForgeEdge operational program and is led by Partners Rob Arditi and Navid Oreizy. Brian Feinstein, a Bessemer partner who championed the expansion into growth buyouts, said the fund widens the firm's ability to support management teams seeking liquidity.
Bessemer has also elected to become a registered investment advisor with the Securities and Exchange Commission. According to the release, this status opens opportunities to invest across a wider range of assets at various stages. Chief strategy officer Scott Ring said the venture and growth private equity platforms are structured to remain focused on their respective investment stages, and credited the firm's limited partners and track record for the fundraise.
The firm manages more than $20 billion in assets and counts Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast among its portfolio companies.
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