Benchmark raises $2 billion and launches $1.25 billion growth fund
Business
Benchmark Capital, famous for backing Uber and Twitter early on, just raised $2 billion across two new funds.
This is a big shift from their usual smaller, early-stage bets: they're now launching a $1.25 billion growth fund aimed at later-stage startups that need more cash to scale.
Benchmark stake including $225 million returned $3.25B
With this new fund, Benchmark can go after larger opportunities, including AI companies that require serious investment.
Their recent $225 million investment in Cerebras was part of Benchmark's overall stake, which paid off with a huge $3.25 billion return after the chipmaker's IPO last month.
They're also putting money into mid-stage startups like Gumloop and Monaco, showing they're ready to invest at different stages as the startup scene evolves.