Benchmark raised its first-ever growth fund as part of a $2 billion capital haul across two new funds, including a $1.25 billion vehicle dedicated to later-stage investments, TechCrunch reported on June 3. The firm has historically kept its funds much smaller.
The shift from small funds to a growth vehicle reflects how large AI rounds have become: early-stage investors who want to hold positions through later rounds increasingly need more capital.
Source: TechCrunch