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Bessemer Venture Partners raises $3.3bn across two funds

Monday, March 01, 2021

Laxman Pai, Opalesque Asia:

The global early-stage venture capital firm Bessemer Venture Partners announced the close of two new funds totaling $3.3 billion, money that it will be used to back early-stage startups as well as growth rounds for more mature companies.

The Redwood City-based firm closed BVP XI with $2.475 billion and BVP Century II with $825 million in total commitments.

Additionally, the firm welcomed five new partners, including Jeff Blackburn, who joins Bessemer Venture Partners from Amazon, alongside the promotion of existing Bessemer investors Mary D'Onofrio, Mike Droesch, Tess Hatch, and Andrew Hedin, said a press release.

Jeremy Levine, a partner in Bessemer's New York office, said: "I'm proud to celebrate the success of Mary, Mike, Tess, and Andrew, and I am excited to welcome Jeff to the firm. Having known Jeff for 15 years, I'm a great admirer of his stunning track record as an innovator and leader paired with his deep humility. I know his peerless experience leading one of the world's greatest tech and consumer brands will benefit our team and the many founders who partner with Bessemer."

Blackburn joins Bessemer following a 22-year career at Amazon, first joining the e-commerce giant after its IPO and then spearheading its growth in the core marketplace business and expansion across Amazon Advertising, Prime Video, Amazon Music, and Amazon Studios.

Most recently, Blackburn served as senior vice president of worldwide busin......................

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