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Bessemer raises $525M fund for later-stage tech startups

Bessemer Venture Partners, also known as Deer Management Co. LLC, raised $525 million to invest in existing portfolio and growth stage companies, with single investments of up to $250 million, London's Financial Times reported.

The company is raising a fund to invest in later-stage startups that want to remain private for longer, after high-profile flops by technology companies on the public markets.

Bessemer has become known for supporting online data storage startups, lending its name to a Nasdaq index for emerging cloud software companies.