Kara Swisher

Recent Posts by Kara Swisher

Dough Boys: Here’s Benchmark’s $425 Million Fund Filing Document


Earlier today, Fortune’s Dan Primack reported that Benchmark had raised $425 million in its eighth investment fund. The Silicon Valley venture capital firm had previously raised the same amount in 2011.

As most already know, the new powers-that-be at Benchmark are now the main foursome of Bill Gurley, Peter Fenton, Mitch Lasky and Matt Cohler. With this fund, they have now entirely replaced Benchmark’s original group of four founders. (That said, Steve Spurlock, who has been at Benchmark since 1999, remains an operating partner, who is in charge of running the day-to-day operations of the firm and also is the general counsel for the firm.)

While the old group backed such winners as eBay (an investment of about $7 million that turned into $5 billion), the new dudes — and, let’s be clear, they have always been dudes — have been keeping up with investments in companies like Twitter and, more recently, hottie-hot startup Snapchat.

As Primack reported, the group has been on the hunt for a fifth partner, which has actually been going on for a bit. It will be interesting to see who the firm will land and how that person will fit in, given how tight the current leadership group is.

Other recent changes include what amounts to a full-scale move from its old digs on Sand Hill Road to a hipster new office space in the Tenderloin of San Francisco that is currently being built out. Benchmark still has an office in Woodside, Calif., but the action is all north now.

And the money is in the bank — here’s Benchmark’s Form D that it filed with the Securities and Exchange Commission:


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Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus