With the new fund, Bling is expanding its network of advisors from top startups such as Notion, OpenAI, Scale AI, and Stripe. Ling has approximately 19 unicorns to his name, while his partner Kyle Lui, a former partner at DCM, has at least seven, including DocSend and Hims. Since its inception six years ago, Bling has invested in 170 companies, including Rippling and Vise. The new fund is not a significant increase from its previous one, which was $212 million and was also divided almost equally between a new seed fund and an opportunity fund.
Key takeaways:
- Bling Capital has raised $270 million for its new flagship fourth fund, with half of the funds set aside for its opportunity fund for follow-on investments.
- The firm was founded by Ben Ling, a former general partner at Khosla Ventures and a successful angel investor, who has backed 19 unicorns.
- Bling Capital operates a Product Council, a network of leaders from major tech firms that advise the firm's startups. With the new fund, the firm is adding advisors from Notion, OpenAI, Scale AI, and Stripe.
- In its six years of operation, Bling has invested in 170 companies, including Rippling and Vise. The new fund is not a significant increase from its previous fund, which was $212 million.