No great invention is ever built without a high degree of risk. But that’s exactly what makes the most audacious founders the very ones to shape the future. Now more than ever, grit, capital efficiency, and ingenuity are invaluable qualities to possess. Despite the challenging market and global uncertainty, we remain confident that tomorrow’s leaders are the ones building today.
In November, we launched a new podcast, Wish I Knew, that explores the lessons entrepreneurs learned from the risks they took in order to grow. In the spirit of one of Bessemer’s core values, intellectual honesty, leaders from Dreamworks, Dropbox, Twitter, StubHub, Zola, Chief, and Stanford University share their hardest and most impactful decisions. Tune in.
Two new funds. This year, we announced the closing of two funds, $3.85 billion for BVP XII, the firm’s twelfth flagship fund, and $780 million for the inaugural BVP Forge fund for growth-focused private equity. Fresh funds will allow us to continue our mission to back entrepreneurs and management teams at scale, across all stages of growth, from seed to IPO and beyond.
Living by our values. As our team grows, Bessemer continues to commit to six core values that help us support founders and do our best work: curiosity; learning and mentorship; innovation; intellectual honesty; empowerment; and collaboration.
The Centaur is a business that reaches $100 million of annual recurring revenue (ARR)—a rare breed of cloud business, part of an elite subset of the growing unicorn herd.
At Seed Summit, an annual event where we bring together the early stage investing community, Bessemer shares its deep thinking on a number of the firm’s roadmap
We are biased, of course, but we think this curated reading list of predictions, benchmarks and insights for the entrepreneurs who are building for tomorrow.
Forge ahead to 2023
Markets may go through cyclical seasons, but with experimentation and persistence, businesses can strive for and achieve sustainable growth. Whether it’s a bull or bear market, it’s always the right time to innovate and build for a better future.