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Bling Capital, one of the most prolific and well-connected venture capital firms, has secured another $270 million for a new fourth major fund. About half of those new millions were allocated to its Opportunity Fund, where money was earmarked to make subsequent investments in winners, Kyle Lowe, Bling’s general partner, told TechCrunch.
Bling is a company founded in 2018 by Ben Ling, a former general partner at Khosla Ventures, where he backed companies like Gitlab and Webflow. He earned his Valley street cred by holding executive positions at Google, YouTube, and Facebook. He also became a stellar angel investor (Airtable, Lyft, Square, Palantir, and others), so that it became clear that seed investing was his true calling.
These experiences shaped his investment firm, which runs what he calls the Product Council, a network of leaders at big tech companies that helps advise Bling startups. With the new fund, the company’s network adds advisors to its roster from a range of top startups including From Notion, OpenAI, Scale AI and Stripe.
Finally, Ling collected about 19 unicorns under his belt. Lui, who was previously a partner at DCM, has racked up no fewer than 7 unicorns, including names like DocSend and Hims.
During its six years, Bling has already invested in 170 companies, she says, including names like Rippling and Vise. The new fund does not represent a huge step compared to its last fund, which was launched almost two years ago. This totaled $212 million, split almost equally between a new seed fund and an opportunity fund.
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