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Bessemer eyes $1.6 bln for 10th multistage venture fund

  • Bessemer funds invest from seed to growth stages
  • Previous fund raised $1.6 bln
  • Firm promoted several to partner last year

Bessemer Venture Partners is targeting $1.6 billion for its 10th venture fund that invests in across stages, from seed to growth rounds, according to a person with knowledge of the firm.

Bessemer filed a Form D fundraising document with the SEC earlier this month. The document did not state a target for Bessemer Venture Partners X.

The firm expects to hold a close later this year on Fund X, the person said.

Bessemer invests from seed stage to growth stage in companies with a broad focus that includes consumer, cloud computing, cybersecurity, healthcare, financial services and software.

Its portfolio includes Pinterest, LinkedIn, Blue Apron, Skype, Shopify, Diapers.com and Activ Financial.

Bessemer closed Fund IX on $1.6 billion in 2015.

Last year the firm promoted three people to partner: Charles Birnbaum, Amit Karp and Kristina Shen.

Bessemer is led by a group of partners, including Ed Colloton, who heads the firm’s operations, Robert Stavis, Jeremy Levine, Robert Goodman, Byron Deeter and David Cowan.

Earlier this month, Bessemer participated in a $7 million Series A funding round in Previse, a machine-learning company. The firm in June led a $10 million Series A round in Fabric, which provides affordable life insurance to new parents.  

Action Item: Check out Bessemer’s Form ADV here: https://bit.ly/2NvdrW6