Benchmark raises its first-ever growth fund as part of $2B capital raise
Benchmark Capital has raised $2 billion across two new funds, marking a departure from its traditional fund size of around $425 million. The new funds include a $1.25 billion vehicle for later-stage investments, allowing the firm to invest in capital-intensive AI startups. This shift comes as Benchmark adapts to the changing landscape of venture capital and aims to maintain its competitive edge in the AI sector.
- ▪Benchmark Capital has closed on commitments of $2 billion across two new funds.
- ▪The firm has traditionally limited its fund sizes to about $425 million.
- ▪Benchmark's new $750 million early-stage fund allows for more flexibility in investments.
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| Original publisher | TechCrunch |
| Canonical URL | https://techcrunch.com/2026/06/03/benchmark-raises-its-first-ever-growth-fund-as-part-of-2b-capital-raise/ |
| Publication time | Thu, 04 Jun 2026 03:52:15 +0000 |
| Retrieval time | 2026-06-04T04:55:14.499Z |
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Benchmark Capital, the storied Silicon Valley VC firm known for early investments in eBay, Snap, Uber, and Twitter, is breaking with one of its signature traditions: keeping its funds to about $425 million and backing only young startups. After more than two decades of restricting its vehicles to that amount or lower, the outfit has closed on commitments of $2 billion across two new funds, including a $1.25 billion vehicle dedicated to later-stage investments, according to the Wall Street Journal. While the fund sizes of many venture capital firms have ballooned into billions of dollars over the last decade, Benchmark stuck to the strategy that helped make it legendary.
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