Benchmark Growth Fund I

Benchmark Growth Fund I is Benchmark's first-ever dedicated growth vehicle, part of a $2B raise alongside Benchmark XII. After 20 years of capping funds near $425M and refusing later-stage capital, Benchmark launched a concentrated growth fund designed for roughly 5-6 large investments, focused on breakout portfolio companies and select new later-stage entries. The catalyst was a $3.25B return from Cerebras's IPO.