|Total assets||$225 million|
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, 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.
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.
Bloomberg Beta launched in June 2013 with $75 million of funding from Bloomberg L.P. A second fund of $75 million was announced in July 2016. In October 2019, they announced a third fund of $75 million. Bloomberg Beta is headquartered in San Francisco, California, with additional operations in New York City.
Areas where the firm invests 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" project started in 2014 to predict who will start companies before they do. 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. the firm is the organizer behind "Comeback Cities," taking groups of venture capitalists and members of congress on bus tours throughout America to find untapped beds of talent and entrepreneurship.
Bloomberg Beta consists of three full-time partners: Roy Bahat, Karin Klein, and James Cham.