Tuesday, December 6, 2022
HomeTechnologyLeading venture firm Bessemer introduces $3.85 billion in media, technology and in...

Leading venture firm Bessemer introduces $3.85 billion in media, technology and in telecom sector

Bessemer Venture Partners has introduced a new investment fund for early stage ventures that has a total capitalization of $3.85 billion. The BVP VII fund includes a range of financing options, and is focused on strategic investments in technology, media and telecommunications sectors.

This will be the company’s eleventh fund, and it will invest in a wide variety of sectors, including financial technology. According to the statement made by the firm, “This new fund enables us to continue supporting entrepreneurs at scale, strengthening our established emphasis on early-stage investments.”

The announcement comes just about half a year and nearly six months after the company announced the establishment of a $250 million fund for investments related to decentralized technology. The fund will include investments in consumer cryptocurrencies, such as the increasing adoption of blockchain technology by companies such as Sorare, which enables global football fans to have ownership over digital collectibles.

Bessemer manages more than $20 billion worth of assets and has a portfolio consisting of more than 200 different firms. Pinterest, Shopify, Yelp, and LinkedIn are just a few of the companies that received early stage financing.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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