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Bloomberg Beta

Bloomberg Beta

Bloomberg Beta is an early stage venture capital firm capitalized solely by Bloomberg.

Company Overview

Bloomberg Beta is an early-stage venture capital firm with $150M under management, capitalized solely by Bloomberg. The fund exists to expand Bloomberg's horizons by investing in companies that make business work better, with a focus on machine intelligence. The firm invests purely for financial return.



Led by Roy Bahat, a technology business operator and entrepreneur, Bloomberg Beta has an unconventional investing model where anyone on the team can say yes to a deal. The investing partnership has an equal male-to-female ratio. The fund launched in June 2013 with $75 million of funding from Bloomberg L.P.

History

Bloomberg Beta is an early-stage venture firm, backed by Bloomberg L.P., with $150M under management, capitalized solely by Bloomberg. The firm is headquartered in San Francisco, California, with additional operations in New York City.



The fund invests for financial return and chooses its investments independently, without preference for companies who have or want a relationship with Bloomberg. It is focused broadly on the future of work and is inspired by Bloomberg as a template for startups — founded on a powerful idea, bringing transparency to markets, achieving global scale, with a strong and open culture that embraces technology, led by its founders for decades. The fund exists to expand Bloomberg’s horizons by investing in companies that make business work better, with a focus on machine intelligence.

Investments

Bloomberg Beta has made 143 investments. One of them was on Feb 14, 2019, when they invested $13.5M in Pinpoint. Bloomberg Beta has had 19 exits, including Versive, Kaggle, and Mavrx. The firm has raised a total of $150M across 2 funds, their latest being Seed Investment Fund II. This fund was announced on Jul 19, 2016, and raised a total of $75M. Bloomberg Beta has $18.3M in revenue annually and competes with Uncorked Studios, Fuseproject, and Frog Design.

Timeline

Funded Companies

Company
Description
Website
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Everledger is a supply chain and asset tracking company using blockchain to store records of valuable assets like diamonds.

Knotel is a New York-based company founded by Amol Sarva.

Survata is a marketing research company selling brand intelligence.

Machine learning platform enabling data science teams to rapidly develop and deploy models that drive breakthrough innovation

goTenna is a company that builds devices that pair to a phone to create mesh networks so people can relay text and GPS messages with no cellular service required.

Fiddler Labs is an artificial intelligence engine which focuses on solutions which are transparent, explainable and understandable for data scientists, product owners and businesses to deploy machine learning models at scale.

Cryptocurrency company

Raydiant Oximetry is a company founded by Nicole Hlava, Tzong-Ru Terry Han and Neil Ray.

Pinpoint is an Austin, Texas-based company.

Netlify is a San Francisco-based company.

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Further reading

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Bloomberg-Beta Manual



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News

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Author
Date
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Description
Sherin Shibu
October 23, 2019
Business Insider
Roy Bahat is an "untraditional" investor-- someone who became a VC after trying nearly everything else.
May 2, 2019
WebWire
SAN FRANCISCO, Calif. -- May 2, 2019 -- InCountry, the first data residency-as-a-service platform, today announced the launch of its service and first product offering. The company is also announcing $7 million in seed funding from Caffeinated Capital, Felicis Ventures, Ridge Ventures, Bloomberg Beta, Charles River Ventures, Global Founders Capital, Parade Ventures, MState, and a series of angel investors. Already operating in 50 countries, the funding will be used to grow the...
ERIN GRIFFITH
November 1, 2018
nytimes.com
Following the money isn't easy in the opaque world of venture capital.

References