Benchmark secures $1.25 billion for first growth fund
The dedicated vehicle lets Benchmark pursue a concentrated portfolio of later-stage investments.
Benchmark secured $1.25 billion in commitments for its first dedicated growth fund, according to reports published on June 3, 2026. The vehicle is separate from the $750 million early-stage fund announced alongside it.
The growth strategy gives Benchmark capacity to invest in more mature companies, including existing portfolio businesses and new startups. It follows the partnership’s use of a special-purpose vehicle to increase its investment in chipmaker Cerebras.
The fund is intended for a concentrated set of larger bets. Discussing the strategy in October, partner Peter Fenton said a small number of investments could drive most of its returns, extending Benchmark’s mandate beyond its core early-stage business.
Use of funds
Make concentrated investments in later-stage companies