Bloomberg Beta

Summary

Bloomberg Beta
IndustryVenture Capital
FoundedJune 2013; 8 years ago (2013-06)
FounderBloomberg L.P.
Headquarters,
Key people
Roy Bahat
Karin Klein
James Cham
Total assets$225 million
Websitewww.bloombergbeta.com

Bloomberg Beta is an early stage venture capital firm with $225M under management, capitalized solely by Bloomberg. The fund exists to expand Bloomberg’s horizons by investing in companies that are creating profound change in the way business operates,[1] with a focus on machine intelligence and the future of work. Bloomberg Beta was recognized by VC review site CB Insights as the #2 investor in AI.[2]

Led by Roy Bahat, the firm has an unconventional investing model where anyone on the team can independently say yes to a deal. The fund's operating manual is publicly available online.[3]

Bloomberg Beta launched in June 2013 with $75 million of funding from Bloomberg L.P.[4][5] A second fund of $75 million[6] was announced in July 2016. In October 2019, they announced a third fund of $75 million.[7] Bloomberg Beta is headquartered in San Francisco, California, with additional operations in New York City.

Areas where the firm invests[8] include: content discovery, cybersecurity, data sets and services, developer tools, full-stack startups using technology to compete in a new way, hardware, human-computer interaction, learning, media distribution, new organizational models, open-source software, productivity tools, professional networks, technology platforms, workflow tools, and workplace communication.

The firm uses data to find new customers. Their "Future Founders"[9] project started in 2014[10] to predict who will start companies before they do.[11] In 2014, it began publishing an annual Machine Intelligence landscape to better understand what was happening in the startup ecosystem with artificial intelligence and machine learning.[12] the firm is the organizer behind "Comeback Cities,"[13] taking groups of venture capitalists[14] and members of congress[15] on bus tours throughout America[16] to find untapped beds of talent and entrepreneurship.[17]

Partners

Bloomberg Beta consists of three full-time partners: Roy Bahat, Karin Klein, and James Cham.

Relationship with Bloomberg L.P.

Bloomberg Beta is operated as a separate entity from Bloomberg L.P., which is the sole investor in the fund.[18]

References

  1. ^ Bahat, Roy (7 October 2019). "Lessons about the future of work from six years of investing". Medium.
  2. ^ "A New High In Deal Activity To Artificial Intelligence Startups In Q4'15". CB Insights Research. 4 February 2016.
  3. ^ "Bloomberg-Beta/Manual". Bloomberg Beta. 28 March 2020.
  4. ^ "Bloomberg Launches Bloomberg Beta, A $75 Million Early-Stage Investment Fund Led By Former IGN Exec Roy Bahatt". TechCrunch. June 4, 2013. Retrieved June 3, 2014.
  5. ^ "Bahat to Head $75 Million Bloomberg Beta Tech Fund". June 4, 2013. Retrieved June 3, 2014.
  6. ^ "Bloomberg Beta raises a second $75 million fund". TechCrunch.
  7. ^ "Bloomberg Beta, now six years old, closes its third $75 million fund". TechCrunch.
  8. ^ ""Themes"".
  9. ^ "VC firms use data to identify startup founders before they know it". Fortune.
  10. ^ Bahat, Roy; Beta, head of Bloomberg. "Fortune-Tellers, Step Aside: Big Data Looks For Future Entrepreneurs". NPR.org.
  11. ^ "The Next Mark Zuckerberg Is Not Who You Might Think". NYTimes.
  12. ^ "Machine Intelligence In The Real World". TechCrunch. Retrieved 30 March 2020.
  13. ^ Bahat, Roy (30 March 2018). "What this Silicon Valley VC learned on the 'Rust Belt Safari'". Vox.
  14. ^ Roose, Kevin (4 March 2018). "Silicon Valley Is Over, Says Silicon Valley". The New York Times.
  15. ^ Andrews, Natalie (23 February 2018). "With Jobs in Mind, Ohio Democrat Takes Venture Capitalists on Midwest Road Trip". Wall Street Journal.
  16. ^ "Placing bets beyond the venture hubs of New York and Silicon Valley". TechCrunch.
  17. ^ "Comeback Cities tour takes politicians, venture capitalists to tech startups in the South". VentureBeat. 19 October 2018.
  18. ^ "Bloomberg Begins Fund to Invest in Start-Ups". The New York Times. June 5, 2013. Retrieved June 3, 2014.