Bessemer Venture Partners launches its its tenth early-stage tech fund a $1.85bn capital pool.
FinTech Global revealed back in August that the firm was out in the market with the vehicle, the successor to its $1.6bn flagship fundraise from 2015.
The firm will use BVP X to back seed, Series A and Series B funding rounds in technology companies in a number of sub-sectors. Bessemer will look to make investments ranging from $50,000 to $100m.
Investing globally, the firm looks to back businesses operating within the consumer internet, enterprise technology, mobile, cybersecurity, cloud computing, SaaS, developer platforms and infrastructure, healthcare and space. The firm also explores new areas of opportunities.
In the last three years, nine of VC’s portfolio businesses have gone public with billion-dollar valuations, including Shopify, Twilio, SendGrid, DocuSign, MindBody, Box, Instructure, 2U, and Wix.
Around 30 per cent of the firm’s current portfolio is outside the US, and with the new vehicle it will continue to invest globally.
The firm’s previous investments include identity theft protection business LifeLock, personal-finance security service Billguard, collaborative threat intelligence platform IDD, cyber threat intelligence company iSIGHT Partners, and authentication & authorization platform AuthO.
Bessemer has made a number of investments into the FinTech space this year, including two deals just in this month. Earlier in the week, it invested into the $85m funding round of Israel-based cybersecurity venture incubator Team8.
Its other deal this month was a lead contribution to the $18m Series B investment of cybersecurity platform Hysolate. The company offers software-defined endpoints to help secure user devices and remove risks.
Bessemer has $4.5bn of capital, which it manages through its offices in San Francisco, New York, Boston, Israel, and India.
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