Bessemer Venture Partners

In 1911, a fortune built on steel laid the groundwork for something unexpected: Bessemer Venture Partners. Henry Phipps Jr., co-founder of Carnegie Steel, established Bessemer Trust to manage his family’s wealth. This wasn’t your typical trust, though. Bessemer Trust had a venturesome spirit. It spun off Bessemer Securities, a separate entity with $20 million, ready to dive into the world of venture capital. Bessemer Venture Partners, as we know it today, eventually emerged from this innovative branch. Bessemer Venture Partners, or BVP, wasn’t content with traditional investments. They sought out the risky, the cutting-edge, the future of technology and medicine. This forward-thinking approach led them to Silicon Valley in 1975, right as the tech scene was about to explode. Bessemer Venture Partners’ journey wasn’t without its bumps. The 1970s brought significant losses in real estate. But Bessemer Venture Partners persevered. By 1986, they had nearly a billion dollars under management and a growing team of venture capital specialists. Bessemer Venture Partners continued to evolve, expanding its reach globally in 2000. They set their sights on India, Israel, Latin America, and Europe, eager to find and fund the next big thing. Bessemer Venture Partners even has a unique feature on their website: the “Anti-Portfolio”. It’s a list of opportunities they missed, including giants like Apple and eBay. This shows a refreshing humility and a willingness to learn from the past. In 2007, Bessemer Venture Partners opened its doors to outside investors with their seventh fund, marking a new chapter in their history. More recently, they’ve expanded into private equity with BVP Forge, showing their continued drive to adapt and innovate. Bessemer Venture Partners stands here today, a testament to the enduring power of vision and adaptation. From steel to Silicon Valley, their story reminds us that sometimes, the greatest fortunes are built not on what is, but on what could be.