Bessemer eyes $1.6 bln for 10th multistage venture fund

Bessemer Venture Partners is targeting $1.6 billion for its 10th venture fund that invests in across stages, from seed to growth rounds, according to a person with knowledge of the firm.

Bessemer filed a Form D fundraising document with the SEC earlier this month. The document did not state a target for Bessemer Venture Partners X.

The firm expects to hold a close later this year on Fund X, the person said.

Bessemer invests from seed stage to growth stage in companies with a broad focus that includes consumer, cloud computing, cybersecurity, healthcare, financial services and software.

Its portfolio includes Pinterest, LinkedIn, Blue Apron, Skype, Shopify, and Activ Financial.

Bessemer closed Fund IX on $1.6 billion in 2015.

Last year the firm promoted three people to partner: Charles Birnbaum, Amit Karp and Kristina Shen.

Bessemer is led by a group of partners, including Ed Colloton, who heads the firm’s operations, Robert Stavis, Jeremy Levine, Robert Goodman, Byron Deeter and David Cowan.

Earlier this month, Bessemer participated in a $7 million Series A funding round in Previse, a machine-learning company. The firm in June led a $10 million Series A round in Fabric, which provides affordable life insurance to new parents.

Action Item: Check out Bessemer’s Form ADV here: