Bessemer Venture Partners has unveiled a new investment fund worth $3.85 billion for early-stage investments.
The fund, the firm's twelfth, will cut across a broad array of industries, including fintech. "This new fund allows us to continue backing entrepreneurs at scale, bolstering our established focus on early-stage investments," the company said.
The news comes nearly six months after the firm unveiled a $250 million fund for investments related to decentralized technology, including on consumer crypto, such as the rising adoption of blockchain technology like Sorare, which allows global football fans to have ownership over digital collectibles.
Bessemer has a portfolio of more than 200 companies and over $20 billion of assets under management. Early stage investments have included Pinterest, Shopify, Yelp and LinkedIn.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.