Bessemer closes latest global VC fund on $3.85b
US-based Bessemer Venture Partners, which is currently expanding a longstanding presence in India, has closed its latest global VC fund with USD 3.85m in commitments.
It comes nine months after Bessemer closed an India-dedicated fund on USD 220m and appointed local entrepreneur and investor Nithin Kaimal as COO. The firm has backed more than 65 Indian start-ups in the past 15 years, including the likes of Swiggy, BigBasket, and PharmEasy.
Bessemer plans to make initial investments in India with the local fund and provide follow-on rounds with its global flagship funds and Century series growth funds. The second Century vintage closed early last year on USD 825m.
Fund XII, the latest global early-stage vehicle, will make investments at every stage of growth. It will be supported by the recently closed USD 780m Forge fund, which backs software and tech-enabled services businesses looking for liquidity via growth buyouts or significant minority investments.
Target sectors include enterprise, financial, consumer, and healthcare technologies, as well as deep tech. Some of the most recent activity in India includes participation in large late-stage round for health platform MediBuddy and beauty marketplace MyGlamm.
Notable investees around Asia include Chinese artificial intelligence player Sensors Data, Australian design platform Canva, Korean fintech provider Viva Republica, New Zealand space technology company Rocket Lab, and Singapore home renovation service Livspace.
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