Bessemer Venture Partners raised $5.75 billion across two funds to invest throughout the AI stack, from compute infrastructure and foundation models to enterprise applications and agentic technology. The firm allocated $1.75 billion to seed and early-stage investments and created a $4 billion growth-stage platform for larger checks as companies remain private longer. Bessemer says AI-native companies are reaching $100 million in annual recurring revenue faster than any technology category in history, increasing the need for capital across multiple funding stages. Since 2022, it has deployed more than $3 billion into over 260 AI-focused companies, about 70% of them from pre-seed through Series A. Its portfolio includes Anthropic, Perplexity and Shopify, alongside Cognition, Legora, Ramp and Waymo, as well as SaaS-era companies Box, DocuSign and Gainsight. Bessemer manages approximately $20 billion in total assets, has backed more than 450 companies over its history and plans to invest across the US, Europe, India and Israel. The fundraising builds on a $1 billion AI commitment announced in 2023.