Bloomberg Beta is an early stage

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

firm with $450M under management, capitalized solely by

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician a ...

. The fund exists to expand Bloomberg's horizons by investing in companies built by extraordinary founders 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. Bloomberg L.P. is an American privately-held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan, Charles Ze ...

A second fund of $75 million was announced in July 2016. In October 2019, they announced a third fund of $75 million. In June 2022, they announced a fourth fund of $75 million, and their first opportunity fund, also of $75 million. Bloomberg Beta is headquartered in

San Francisco, California San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

, with additional operations in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. 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 start-up 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.

Relationship with Bloomberg L.P.

Bloomberg Beta is operated as a separate entity from

, which is the sole investor in the fund. It consists of three full-time partners: Roy Bahat, Karin Klein, and James Cham.

References

{{Bloomberg Financial services companies established in 2013 Venture capital firms of the United States Companies based in San Francisco American companies established in 2013