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Learn which startups Bloomberg Beta invests in, what size check sizes they write, and who their partners are (e.g. Karin Klein).
Bloomberg Beta is an early-stage venture capital firm, backed by Bloomberg L.P., that invests in companies enhancing the efficiency and future of business operations. The firm focuses on identifying and supporting innovative startups that are poised to bring about significant changes in how work is conducted and how businesses function. Their investment thesis centers on the evolving landscape of work, technology, and information flow.
The firm was established around 2013, with venture capitalist James Cham instrumental in its founding. The underlying insight driving Bloomberg Beta's creation was the recognition of a rapidly transforming business environment, requiring dedicated capital and strategic support for nascent companies. This origin reflects Bloomberg L.P.'s commitment to fostering innovation within its broader ecosystem.
Bloomberg Beta targets founders who are developing solutions that redefine the modern workplace and business processes. The firm's vision extends beyond mere financial returns, as all profits generated are directed to Bloomberg Philanthropies, underscoring a commitment to broader societal benefit alongside strategic investment. This structure positions Bloomberg Beta as a forward-thinking entity, shaping the future of work.
Key people at Bloomberg Beta.
Key people at Bloomberg Beta.
Bloomberg Beta is an early-stage venture capital firm with $450M under management, capitalized solely by Bloomberg L.P.[1][2] The firm operates with a mission 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 particular focus on machine intelligence and the future of work.[1] Rather than seeking financial returns as a primary objective, Bloomberg Beta's core philosophy centers on understanding the startup ecosystem and maintaining aligned interests with founders—viewing venture investment as a window into emerging trends and technologies that matter to Bloomberg's broader business.[2]
The firm invests independently without preference for companies seeking relationships with Bloomberg, choosing investments based on merit and strategic fit with its thematic focus areas.[3] Bloomberg Beta has been recognized by CB Insights as the #2 investor in AI, underscoring its prominence in the machine learning investment space.[1] The firm's approach to early-stage investing spans seed and Series A rounds, with the flexibility to follow on through later-stage opportunities via its dedicated Opportunity Fund.
Bloomberg Beta launched in June 2013 with $75 million in initial funding from Bloomberg L.P.[1] The firm was established as a separate operating entity from its parent company, designed to give Bloomberg a direct window into the startup world while maintaining operational independence. Led by Roy Bahat, the venture firm has grown through successive fund closures, each capitalized at $75 million: a second fund announced in July 2016, a third in October 2019, a fourth in June 2022 alongside the first Opportunity Fund, and most recently a fifth fund closed in 2025.[1][2]
What distinguishes Bloomberg Beta's origin is its commitment to transparency and founder-centric operations from inception. A few months after launching, the team made the unconventional decision to open-source its operating manual—a comprehensive guide covering everything from check sizes to diligence questions and core beliefs.[3] This move reflected a philosophy that founder time is precious and that transparency about how the firm operates would help founders make informed decisions about partnership. The manual has since become a widely-referenced resource in the venture community, demonstrating Bloomberg Beta's influence on industry practices.
Bloomberg Beta operates with a distinctive governance structure where any team member can independently say "yes" to a deal, rather than requiring consensus or hierarchical approval.[1] This distributed decision-making approach accelerates investment decisions and reflects trust in the team's judgment.
The firm leverages Bloomberg's data infrastructure to identify emerging talent before founders launch companies. The "Future Founders" project, launched in 2014, uses predictive analytics to spot individuals likely to start companies, giving Bloomberg Beta early visibility into the next generation of entrepreneurs.[1]
Beyond capital deployment, Bloomberg Beta shapes the startup ecosystem through initiatives like its annual Machine Intelligence landscape reports, which provide comprehensive analysis of AI and machine learning trends in the startup world.[1] The firm also organizes "Comeback Cities," bringing venture capitalists and members of Congress on bus tours throughout America to identify untapped talent and entrepreneurship outside traditional tech hubs.[1]
The publicly available operating manual removes information asymmetry between the firm and founders, allowing entrepreneurs to understand Bloomberg Beta's investment criteria, check sizes, and philosophy before engaging.[3] This transparency has become a competitive advantage in founder recruitment.
Rather than pursuing broad diversification, Bloomberg Beta maintains a disciplined focus on the future of work and machine intelligence, allowing the team to develop deep expertise and pattern recognition in these domains.[1][3]
Bloomberg Beta sits at the intersection of several powerful trends reshaping technology and business. The firm's emphasis on machine intelligence reflects the broader AI revolution that has accelerated dramatically since 2013, with the firm's #2 ranking among AI investors by CB Insights validating its early positioning in this space.[1] As enterprises increasingly adopt AI to automate workflows and augment human capability, Bloomberg Beta's portfolio companies are positioned at the frontier of this transformation.
The "future of work" thesis is equally prescient, capturing the shift toward distributed teams, automation, and new tools that fundamentally alter how business gets done. This focus has proven remarkably durable across economic cycles, from the post-pandemic remote work boom to the current era of AI-driven productivity tools.
Bloomberg Beta's role extends beyond capital allocation. By maintaining a separate venture arm, Bloomberg L.P. gains real-time intelligence about emerging technologies and business models without the bureaucratic friction that often constrains corporate venture arms. This structure allows Bloomberg to stay ahead of disruption in its core markets—financial data, news, and enterprise software—while simultaneously influencing the startup ecosystem through its thought leadership initiatives and founder networks.
The firm's emphasis on geographic diversity through "Comeback Cities" also positions it as a counterweight to coastal venture concentration, potentially unlocking talent and innovation in underserved regions. This approach aligns with broader industry recognition that venture capital has historically been geographically concentrated and that untapped entrepreneurial potential exists across America.
Bloomberg Beta has evolved from an experimental corporate venture arm into a sophisticated, thematic investor with genuine influence over how the startup ecosystem thinks about itself. The firm's fifth fund closure in 2025, combined with a robust pipeline of exits—including CoreWeave's $1.7 billion acquisition of Weights and Biases, a Bloomberg Beta portfolio company—demonstrates that the model works both for founder value creation and for Bloomberg's strategic objectives.[2]
Looking ahead, Bloomberg Beta's trajectory will likely be shaped by several forces. First, the AI investment landscape will continue to mature, potentially creating pressure to deploy capital into later-stage, higher-conviction bets—a role the Opportunity Fund is already beginning to play. Second, the "future of work" thesis will evolve as AI reshapes job categories and organizational structures; Bloomberg Beta's ability to stay ahead of this curve will determine its continued relevance. Third, the firm's commitment to geographic diversity and founder discovery through data will become increasingly important as venture capital faces scrutiny over its concentration and homogeneity.
The firm's open-source operating manual and thought leadership initiatives suggest that Bloomberg Beta sees influence and ecosystem shaping as core to its mission, not ancillary to it. This positions the firm not merely as a capital provider but as an architect of how venture capital operates—a role that could amplify its impact far beyond the $450M it currently deploys. As machine intelligence and work transformation accelerate, Bloomberg Beta's early positioning and thematic discipline suggest it will remain a consequential player in funding the companies that define the next decade of business innovation.
