Key Takeaways
- • Bessemer Venture Partners closed $4.6 billion across two new funds: BVP XII ($3.85 billion flagship) and BVP Forge ($780 million), expanding its total AUM to over $20 billion.
- • BVP XII targets seed and early-stage investments across healthcare, fintech, enterprise, deeptech, and consumer sectors, while BVP Forge focuses on growth-stage buyouts and minority stakes in software and tech-enabled services businesses.
- • The firm demonstrated strong portfolio performance in 2021 with 12 IPOs, five public listings, and nine M&A exits, positioning it to capitalize on market volatility and founder demand for experienced venture backing.
- • BVP Forge's inaugural closing signals a strategic pivot to support growth-stage liquidity events and management team transitions, addressing a gap in mid-market venture buyout activity.
- • Jeremy Levine and Brian Feinstein, partners at Bessemer, emphasized the firm's ability to support founders through market uncertainty and provide hands-on guidance during growth transitions.
Summary
Bessemer Venture Partners announced the successful closing of $4.6 billion in fresh capital across two distinct funds on September 10, 2022. The flagship BVP XII fund secured $3.85 billion, while the inaugural BVP Forge fund raised $780 million. This capital deployment brings Bessemer's total assets under management to over $20 billion and reflects confidence in the firm's ability to identify and support high-growth companies despite current market headwinds.
BVP XII continues the firm's traditional early and seed-stage focus, targeting investments across healthcare, fintech, enterprise, deeptech, and consumer sectors. The fund builds on the existing portfolio infrastructure established through the current $2.475 billion BVP XI fund, the $825 million Century II growth vehicle, and the $220 million India-focused early-stage fund launched in 2021. This multi-fund strategy enables Bessemer to serve entrepreneurs across the full venture growth spectrum, from inception to scale.
BVP Forge represents a strategic expansion into growth-stage buyouts and significant minority investments in established software and technology-enabled services businesses. This inaugural fund addresses a distinct market opportunity for transactions where founder liquidity and structured growth capital are priorities. Partner Brian Feinstein noted that 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."
The fundraising announcement arrives amid volatile public markets and venture sector consolidation. Bessemer's 2021 track record—marked by 12 IPOs, five public listings, and nine M&A exits—underscores the firm's ability to generate returns through full market cycles. Jeremy Levine, a New York-based partner, emphasized that "innovation thrives during these periods," signaling management confidence that market volatility creates opportunity for well-capitalized, experienced venture firms to back durable company creation.
BVP XII continues the firm's traditional early and seed-stage focus, targeting investments across healthcare, fintech, enterprise, deeptech, and consumer sectors. The fund builds on the existing portfolio infrastructure established through the current $2.475 billion BVP XI fund, the $825 million Century II growth vehicle, and the $220 million India-focused early-stage fund launched in 2021. This multi-fund strategy enables Bessemer to serve entrepreneurs across the full venture growth spectrum, from inception to scale.
BVP Forge represents a strategic expansion into growth-stage buyouts and significant minority investments in established software and technology-enabled services businesses. This inaugural fund addresses a distinct market opportunity for transactions where founder liquidity and structured growth capital are priorities. Partner Brian Feinstein noted that 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."
The fundraising announcement arrives amid volatile public markets and venture sector consolidation. Bessemer's 2021 track record—marked by 12 IPOs, five public listings, and nine M&A exits—underscores the firm's ability to generate returns through full market cycles. Jeremy Levine, a New York-based partner, emphasized that "innovation thrives during these periods," signaling management confidence that market volatility creates opportunity for well-capitalized, experienced venture firms to back durable company creation.
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