Source: Benchmark's 2020 fund is now worth 10x+ and 2024 fund is 3x what investors put in, based on cash distributions and the paper value of its investments
Natasha Mascarenhas /Bloomberg:
Bloomberg Natasha Mascarenhas
Discussion
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@cashflow_cowboy
@cashflow_cowboy
on x
Rumors of the boutique model's demise have been greatly exaggerated
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@pitdesi
Sheel Mohnot
on x
👀 Benchmark 2020 fund at ~10x (Legora, Mercor, Sierra) Benchmark 2024 fund at ~3x (Manus, Cursor) Honestly wild that some folks had counted them out
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@jaltma
Jack Altman
on x
I'm really excited to share that I'm joining Benchmark. The past two years as a full time investor have been the most rewarding of my career. I really love venture capital, which is not something I ever imagined I'd say when I was kid, but here we are. I love new ideas and
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@benchmark
@benchmark
on x
We are thrilled to share that @jaltma is joining Benchmark as our newest General Partner. The Benchmark partnership is built on a shared commitment to the craft of venture capital, where our work is defined by the depth of service and commitment to the founders we work with. We
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@ericnewcomer
Eric Newcomer
on x
Six months ago in Newcomer: “To really succeed in this era Benchmark needs to figure out how to land the type of general partner who could start their own fund in the prime of their career.” Seems like they're doing it.
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@everettrandle
Everett Randle
on x
Hang this one in the Louvre
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@bryce
Bryce Roberts
on x
Have been saying this for so long that I've been feeling like a broken record- Shrinking and consolidating The VC board is being completely reset. Better know which game you're playing...
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@pitdesi
Sheel Mohnot
on x
Interesting that Benchmark is picking up 3 junior folks from Alt- something they haven't done a lot of Seems like a win-win
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@seanwdoolan
Sean Doolan
on x
Been saying intra venture M&A is coming... and now it's really happening. We got approached w/ an attractive offer late last year (and respectfully turned down). There will be more of this to come!
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@eladgil
Elad Gil
on x
Big congrats to one of my favorite folks in tech
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@mark_goldberg_
Mark Goldberg
on x
@jaltma is one of the best people in venture — kind, brilliant, humble. Well played team @benchmark! A wonderful match. cc @chetanp @ericvishria @EverettRandle
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@chrisfralic
Chris Fralic
on x
Congrats all around. This interview was a clever part of the interview process - reminded me I once pitched the entire Benchmark team when we were raising money at Del icio us - they were taller then but remain legendary. [video]
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@maxaltman
Max Altman
on x
Super proud of what Jack has accomplished and can't wait to see what he does at Benchmark!
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@grosen
Greg Rosen
on x
A generational investor joins a generational firm. There's no one better to work with than @jaltma! If there was a way to track founder NPS across the market, Jack would be top of the leaderboard.
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@jaltma
Jack Altman
on x
@snowmaker thank you!! the podcast is going bigger and better than ever before
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@sama
Sam Altman
on x
Happy for my brother. An absolute triumph for Benchmark.
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@dropalltables
Kevin Patrick Mahaffey
on x
Jack is a legend—he's a dream series A investor having built both a successful startup and a successful venture firm.
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@everettrandle
Everett Randle
on x
[image]
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@brettberson
Brett Berson
on x
There are so many people who keep doing what they are doing without asking the important questions of what they want, how they can take advantage of their talents, and where they should do it. I'm absolutely thrilled that Jack found the kind of investing he wants to pursue, took