Benchmark venture capital9/14/2023 ![]() ![]() “No VC firm I have ever been exposed to feels “pressure” to “get dollars to work”, Gurley posted on X (formerly Twitter). According to Gurley, undrawn VC dollars do not run on an IRR clock as the money is actually not at a VC firm but still with the limited partners (LPs). Dry powder is a commonly used term in the VC business and refers to the money that has been raised from limited partners - individuals, pension funds, or institutional investors - but has not yet been invested. Gurley was referring to an article in tech publication The Information, titled ‘Venture firms still writing small checks despite $271 billion in dry powder’. ETtechīill Gurley, general partner at VC firm Benchmarkīill Gurley, a general partner with Silicon Valley-based venture capital (VC) firm Benchmark, is of the view that though there is a larger assumption that VCs are sitting on heaps of dry powder and that they are “burning a hole” in someone’s pocket, the reality is very different. Gurley said that just because there is a lot of ‘perceived’ dry powder with VCs, it need not be deployed instantaneously. More recently, Benchmark Capital participated in Instagram’s $7 million Series A funding and Uber’s $11 million funding round, both in February 2011.Public companies have changed but founder expectations have not moved fast: Benchmark’s Bill Gurley The venture capital firm led Zendesk's $6 million Series B funding in August 2009 and participated in its $19 million Series C funding in December 2010. During Zipcar's April 2011 IPO, shares rose 67 percent and closed with a 56 percent gain on the first day of trading.īenchmark Capital participated in Twitter's $35 million Series C funding in February 2009 and its $100 million Series D funding in September 2009. Benchmark Capital provided Zipcar's first institutional round of funding of $10 million in January 2005. The company's shares rose 21.8 percent following its March 2011 IPO. In December 2004, Benchmark Capital invested $10 million in ServiceSource. Investments include AOL, eBay, Ariba, Juniper Networks, Red Hat, Tropos Networks, Infinera, MySQL, OpenTable, Second Life, Tellme Networks, Yelp, Inc., CTERA Networks, Lithium Technologies, Zillow, 1-800-Flowers,, Friendster, JAMDAT, MetaCafe, Palm Computing, and Seeking Alpha. General partners include Alex Balkanski, Matt Cohler, Bruce Dunlevie, Peter Fenton, Bill Gurley, Kevin Harvey, Bob Kagle, Mitch Lasky and Steve Spurlock.īenchmark Capital has invested in more than 150 startups since its inception and manages nearly $3 billion in committed capital. The firm has been recognized for its commitment to open source and is noted for creating the first equal ownership and compensation structure for its partners. In 2007, London-based Benchmark Europe became an independent firm, named Balderton Capital. The firm's initial investments typically sit in the $3 million to $5 million range, and over the lifetime of a relationship the firm will often invest $5 million to $15 million in a portfolio company.īenchmark Capital was founded in 1995 and is based in Menlo Park, California with an additional office in Herzliya Pituach, Israel. Benchmark Capital is a venture capital firm specializing in early stage investments. ![]()
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