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venture fund strategy

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Bessemer raised $5.75B, including a $1.75B seed fund; NFX shifted to GP-capital-only

IN CONTEXTventure fund strategy1 viewpoints
2026-10-01

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Bessemer raised $5.75B, including a $1.75B seed fund; NFX shifted to GP-capital-only

Jason Lemkin reports Bessemer raised $5.75 billion (including a $1.75 billion seed fund), while NFX adopted the opposite strategy — investing only GP capital and taking no new LP money.

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Supporting evidence

20VC x SaaStr: Anthropic’s S-1 Leaks, Instinct Hits $10 Billion in 33 Days, AMD Buys World Labs, and Meta Poaches MongoDB’s CEO

Original excerpt

Bessemer raised $5.75 billion, including a $1.75 billion seed fund. NFX went the opposite direction, investing only GP capital and taking no new LP money.

Publication dates describe the sources, not changes in belief.