Industry | Venture Capital |
---|---|
Founded | June 2013 |
Founder | Bloomberg L.P. |
Headquarters | , |
Key people | Roy Bahat Karin Klein James Cham Shivon Zilis |
Total assets | $375 million |
Website | www |
Bloomberg Beta is an early stage venture capital firm with $375M [1] under management, capitalized solely by Bloomberg. The fund exists to expand Bloomberg's horizons by investing in companies built by extraordinary founders that are creating profound change in the way business operates, [2] with a focus on machine intelligence and the future of work. Bloomberg Beta was recognized by VC review site CB Insights as the #2 investor in AI. [3]
Led by Roy Bahat, the firm has an unconventional investing model where anyone on the team can independently say "yes" to a deal. The fund's operating manual is publicly available online. [4]
Bloomberg Beta launched in June 2013, with $75 million of funding from Bloomberg L.P. [5] [6] A second fund of $75 million [7] was announced in July 2016. In October 2019, they announced a third fund of $75 million. [8] In June 2022, they announced a fourth fund of $75 million, and their first opportunity fund, also of $75 million. [9] Bloomberg Beta is headquartered in San Francisco, California, with additional operations in New York City.
The firm uses data to find new customers. Their "Future Founders" [10] project started in 2014 [11] to predict who will start companies before they do. [12] In 2014, it began publishing an annual Machine Intelligence landscape to better understand what was happening in the start-up ecosystem with artificial intelligence and machine learning. [13] The firm is the organizer behind "Comeback Cities", [14] taking groups of venture capitalists [15] and members of Congress [16] on bus tours throughout America, [17] to find untapped beds of talent and entrepreneurship. [18]
Bloomberg Beta is operated as a separate entity from Bloomberg L.P., which is the sole investor in the fund. [19] It consists of three full-time partners: Roy Bahat, Karin Klein, and James Cham.
Vinod Khosla is an Indian-American billionaire businessman and venture capitalist. He is a co-founder of Sun Microsystems and the founder of Khosla Ventures. Khosla made his wealth from early venture capital investments in areas such as networking, software, and alternative energy technologies. He is considered one of the most successful and influential venture capitalists. Khosla was named the top venture capitalist on the Forbes Midas List in 2001 and has been listed multiple times since that time. As of August 2024, Forbes estimated his net worth at US$7.2 billion.
Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and often come from high technology industries such as information technology (IT) or biotechnology.
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Adeo Ressi is the founder and CEO of Decile Group and Executive Chairman of Founder Institute. Decile Group is a full-stack venture capital platform for emerging managers worldwide and helped launch nearly 50% of all VC firms in 2023 with the VC Lab accelerator. Founder Institute, a pre-seed accelerator, operates chapters in over 250 cities and supports more than 7,000 portfolio companies. Ressi’s previous startups, including Methodfive, Game Trust, and Total New York, resulted in nearly $2 billion in exits by the age of 30. He has also launched 14 venture capital funds, served on the board of the X Prize Foundation, and created TheFunded.
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Cyan Banister is an American angel investor and entrepreneur. She is a partner at Long Journey Ventures, an early stage venture capital fund. She was an early investor in Uber, Niantic, Postmates, DeepMind, Carta, Thumbtack, Flexport, Affirm, and SpaceX, and co-founded Zivity, an adult-themed social networking site. Banister was the first woman investing partner at the venture capital Founders Fund, where she led seed and early-stage investments.
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Roy Bahat is a venture capitalist, educator, and activist. He is currently the head of Bloomberg Beta, the venture capital arm of Bloomberg. He teaches at UC Berkeley’s Haas School of Business.
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