Bling Capital, one of many extra prolific and well-connected seed VC corporations, has nabbed one other $270 million for a brand new flagship fourth fund. About half of these recent tens of millions are earmarked for its alternative fund, cash put aside to make follow-on investments into winners, Bling basic associate Kyle Lui tells TechCrunch.
Bling is the agency based in 2018 by Ben Ling, a former basic associate at Khosla Ventures, the place he backed such firms as GitLab and Webflow. He earned his Valley road cred from exec roles at Google, YouTube, and Fb. He additionally grew to become such a stellar angel investor (Airtable, Lyft, Sq., Palantir, others), that it’s clear that seed investing is his true calling.
These experiences formed his VC agency, which operates what it calls a Product Council, a community of leaders at main tech corporations that assist advise Bling’s startups. With the brand new fund, the agency’s community is including advisors to its roster from a bunch of the most popular startups, together with from Notion, OpenAI, Scale AI, and Stripe.
All instructed, Ling has corralled about 19 unicorns underneath his belt. Lui, who was beforehand a associate at DCM, has notched no less than seven unicorns, together with names like DocSend and Hims.
In its six years, Bling has already invested in 170 firms, it says, together with such names as Rippling, and Vise. The brand new fund isn’t an enormous step up from its final one, which launched about two years in the past. That one was $212 million complete, additionally break up practically evenly between a brand new seed fund and a possibility fund.
