Key Takeaways
- • Diffusion ONE, the debut AI fund of former Benchmark VCs Victor Lazarte and Kris Fredrickson, has raised $1.252 billion, far above its earlier $800 million target reported by Forbes in May.
- • Trust Ventures filed to raise a $400 million Fund V, following a previously sought $225 million Fund IV in 2023 whose closing status is unclear.
- • Benchmark filed for four new partner-only funds seeking a combined roughly $364 million, with Jack Altman listed in each filing.
- • 8VC filed for multiple new vehicles, including a $400 million 8VC DSS III, following its July close of a $1.5 billion Fund VII.
- • Industry Ventures has raised at least $1.7 billion for a secondaries fund that opened in late July, reflecting strong investor demand for secondary exposure to late-stage private companies.
Summary
SEC filings from October show a cluster of venture capital firms raising new funds, with several established managers commanding strong investor demand, particularly for specialized strategies, according to TechCrunch's review of the filings.
The largest confirmed raise is Diffusion ONE, the debut AI fund of Victor Lazarte and Kris Fredrickson, two former Benchmark VCs. The vehicle has raised $1.252 billion, well above the $800 million target Forbes reported in May. The firm has already co-led Harvey's $550 million Series H with Lightspeed Ventures and participated in Etched's $300 million Series C, announced in July.
Other filings include Trust Ventures, an Austin-based firm founded in 2017 by Salen Churi to back founders in highly regulated industries, which filed to raise a $400 million Fund V. Deep tech fund Interlagos Capital is raising a $400 million Fund II. Benchmark filed four partner-only vehicles, Benchmark Partners Founders' Fund T1, Founders' Fund 2, Founders' Fund 2-A and Founders' Fund T1-A, seeking $220 million, $132 million, $4.5 million and $7.5 million respectively, with Jack Altman, who recently joined Benchmark, listed in each filing.
Joe Lonsdale's 8VC is also seeking new capital, including an $400 million 8VC DSS III, a $30.35 million 8VC COSC, a $20.35 million 8VC BRSC and an 8VC AI Fund XI that has raised $13.5 million, including from 8VC itself. The filings follow 8VC's July announcement of $1.5 billion for Fund VII.
Earlier in October, Notable Capital, an investor in Anthropic, Airbnb and Square, filed for a fifth fund, and Greenoaks, which co-led Anthropic's $65 billion Series H, filed for Greenoaks 7. The timing coincides with Anthropic's latest step toward a public listing, according to the report.
Industry Ventures has raised at least $1.7 billion for its secondaries fund, which opened in late July. PitchBook analyst Emily Zheng described stakes in Anthropic and OpenAI as among the "most contested real estate in venture."
The largest confirmed raise is Diffusion ONE, the debut AI fund of Victor Lazarte and Kris Fredrickson, two former Benchmark VCs. The vehicle has raised $1.252 billion, well above the $800 million target Forbes reported in May. The firm has already co-led Harvey's $550 million Series H with Lightspeed Ventures and participated in Etched's $300 million Series C, announced in July.
Other filings include Trust Ventures, an Austin-based firm founded in 2017 by Salen Churi to back founders in highly regulated industries, which filed to raise a $400 million Fund V. Deep tech fund Interlagos Capital is raising a $400 million Fund II. Benchmark filed four partner-only vehicles, Benchmark Partners Founders' Fund T1, Founders' Fund 2, Founders' Fund 2-A and Founders' Fund T1-A, seeking $220 million, $132 million, $4.5 million and $7.5 million respectively, with Jack Altman, who recently joined Benchmark, listed in each filing.
Joe Lonsdale's 8VC is also seeking new capital, including an $400 million 8VC DSS III, a $30.35 million 8VC COSC, a $20.35 million 8VC BRSC and an 8VC AI Fund XI that has raised $13.5 million, including from 8VC itself. The filings follow 8VC's July announcement of $1.5 billion for Fund VII.
Earlier in October, Notable Capital, an investor in Anthropic, Airbnb and Square, filed for a fifth fund, and Greenoaks, which co-led Anthropic's $65 billion Series H, filed for Greenoaks 7. The timing coincides with Anthropic's latest step toward a public listing, according to the report.
Industry Ventures has raised at least $1.7 billion for its secondaries fund, which opened in late July. PitchBook analyst Emily Zheng described stakes in Anthropic and OpenAI as among the "most contested real estate in venture."
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.