Benchmark raises $2 billion for new VC funds

Dan Primack

Thu, June 4, 2026 astatine 10:08 AM CDT 1 min read

Benchmark Capital has efficaciously closed 2 caller funds: $750 cardinal for its 12th flagship early-stage strategy, and $1.25b for its archetypal maturation fund.

Why it matters: Both funds are large departures from humanities precedent for Benchmark, which has agelong been considered 1 of Silicon Valley's astir palmy VC firms.

Zoom in: Benchmark was renoun for keeping its flagship money sizes astatine astir $425m for the past 2 decades, and was 1 of precise fewer top-tier firms that hadn't raised a later-stage vehicle.

• The erstwhile reflects not conscionable woody size inflation, but existent inflation. $425m successful 2004 dollars works retired to astir $764m today.

• The latter, which volition marque a tiny fig of concentrated bets, seems to beryllium an outgrowth of its Cerebras acquisition — wherever it invested $225m via an SPV, implicit fractional of which came from Benchmark partners.