Both funds are major departures from historical precedent.
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Benchmark Capital has effectively closed two new funds: $750 million for its 12th flagship early-stage strategy, and $1.25b for its first growth fund.
Why it matters: Both funds are major departures from historical precedent for Benchmark, which has long been considered one of Silicon Valley's most successful VC firms.
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The legendary abandons its more than 20 year tradition of keeping its funds to about $425 million.
Benchmark raised approximately $2 billion across two new funds, including its first-ever $1.25 billion growth fund targeting…
Benchmark Capital closed $2B across two new funds, ending its 20-year tradition of $425M caps. Here's what it means for venture…
Benchmark has raised $2bn across two funds, including a $1.25bn growth vehicle, ending a two-decade discipline of ~$425m…
"When software ate the world, Silicon Valley forgot about silicon."
The growth fund is nearly twice the size of its previous one.
