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by whbk
3232 days ago
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Yeah, they definitely put up their own money - it's also public record :) This is how reporters know a firm is raising another fund (beyond just expecting them to every 2 years). The amount/percentage of the total fund that the partners pay in themselves varies by firm and fund. Here's the records from Benchmark's Fund 7 Partners put up $80mm of their own cash, in a vehicle named Benchmark Founders' Fund VII, L.P.:
https://www.sec.gov/Archives/edgar/data/1507661/000150766111... They then raised $425mm from LPs through a vehicle named
Benchmark Capital Partners VII, L.P.:
https://www.sec.gov/Archives/edgar/data/1507669/000150766911... So the Benchmark partners have 16% of that particular fund, though keep in mind VC funds have different economics than just a straight up equity split. 16% is pretty high compared to some other firms I've reviewed, but I admittedly haven't taken the time to sample widely. |
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