Bessemer Venture Partners has closed $5.75B across two funds aimed at the AI stack, with $1.75B set aside for seed and early-stage deals and $4B for growth companies.
The firm built its reputation in software-as-a-service, backing Box, DocuSign and Gainsight, and has invested in more than 260 AI-native companies since 2022. Its portfolio includes Anthropic, Cognition, Legora, Perplexity, Ramp, Shopify and Waymo.
Bessemer says it has put about $3B into AI-related startups so far, spanning compute, infrastructure, foundation models, developer tools and the application layer.
“AI-native companies are scaling faster than any category of technology we’ve backed before,” partner Byron Deeter said.
Deeter told Bloomberg that fund sizes have to keep growing because companies now stay private far longer, which he described as a permanent structural shift rather than a cycle.
The raise lands after a cooling stretch in European venture, and it widens the gap between the few firms able to write large cheques and everyone else. It also points to where the money goes: less into new categories, more into the infrastructure and tooling sitting under agents.
For founders, the practical signal is that growth-stage AI rounds at the top of the market still have buyers, provided the revenue story holds.
