> Because Bloomberg is our sole LP in these new funds, when we earn returns they (still) ultimately go to Bloomberg Philanthropies ().
Mike's foundation is devoted to ensuring better, longer lives for the greatest number of people.
Conversation
To founders, we’ve learned this matters. And it also matters that *we bridge the tech world to the world beyond,* to serve the founders we back...
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> Organizing people in tech who have the ability to be philanthropists, together with – the First Principles Forum
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> Organizing founders on trips to public schools teaching entrepreneurship
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Our 4th visit, and we can't wait for another.
THANK YOU SO MUCH for what you do, quietly (and, maybe with some retweeting, more loudly) innovating in how school should work. THANK YOU for the founders, investors, and friends who joined us in this visit.
Next year, in Fresno...
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> Inviting VCs to visit smaller cities around the country, finding customers and second office spots
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> Hosting everyone from labor organizers (thank you ) to novelists to members of Congress to CEOs of global conglomerates to activists to academics -- leaders outside tech who play influential roles in our modern lives
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> Convening business leaders in every industry who want to chart better ways for business to relate to organized labor, in the Business Roundtable on Organized Labor (thank you )
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> Collaborating with Stanford professors , , and Jeremy Weinstein for a course on ethics, policy, and technological change exploring the ethical and social impact of technological innovation
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> Welcoming the wisdom from our friends on how to work better, compiling our #thisisnotadvice pandemic project in “book” form here: thisisnotadvice.work
(Connecting worlds, that’s us taking another page from the book.)
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We were the first VC firm to focus on the future of work, and artificial intelligence -- we like to be early to the party, and we like to stay at the party.
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> And we remain close with those who have worked on our team, including among others!
Replying to
So our 2022 fund is the same as 2019… and 2016… and 2013. What’s new now?
> In addition to a fourth early-stage fund, we are announcing a new $75 million opportunity fund, led by (who will focus on his ongoing investments out of our core fund, and add this).
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> We’ve already invested in a small number of companies at later stages – , , , and – and we believe that’s good for founders and good for us, so we want to do more of this.
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> We’ll only invest in companies we’ve already backed (from any of our earlier-stage funds), often times several rounds after our initial investment, when the main risk that remains is “how big can this get.”
> We now have $375M in total under management.
We’re also…
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> More focused now on startups that directly compete with enormous incumbents in established, traditional industries.
“Hot-swap” startups like and skip product-market fit risk and can get very big, very fast.
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> More focused on startups that serve the American “abundance agenda” (also called supply-side progressivism, American dynamism, or New Industrialism) – we need to build more, discover more, care more, as a nation.
[paging , , , and ]
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> More focused on emerging technical businesses: those enabled by large machine learning models, creating organizational-scale user experiences (ask !), and offering novel tools for software developers.
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> More focused on tools that support working people (including in their demand to organize), and on advising CEOs on how to relate to organized workforces.
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In a time of uncertainty (are we tired of that phrase yet?), we intend to be stable. A constant on whom founders can depend.
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(Over the last few days, as we reeled at the changes in abortion law in the U.S., we listened to our majority-female team and founders we back. And we’re here to suggest everything from an HR policy to how to communicate with a workforce that has wildly varying views.)
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We want to be there when founders are having their worst moments. Money struggles, worries about the market, drama outside work.
We’ll just as happily recommend an executive coach as we will a therapist. We’re here for the whole person.
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No matter the issue, the team wants to be founders’ first phone call -- on speed dial.
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We even want to know, whether it’s us or other firms, which investors are founders’ #1 choice.
That’s why we’re one of the sponsors of this rating system, by founders, of VCs…
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(Thank you and for building this rating system, and our co-sponsors , , , , and )
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More than nine years after starting , founders we’ve backed have raised more than $8.5 billion dollars to take on some of the biggest problems in the world.
We’re grateful to all the founders we’ve backed, you’re the reason we do this.
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For me personally, when I first started as a VC, I was unsure if I’d like it. I had mixed experiences with VCs, and was uncomfortable admitting I moved money for a living.
I quickly came to love it: running a customer service business where I admire my customers, founders.
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Instead of listening to us, listen to founders. Dozens of them share their experiences here:
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And if you want to join us in conversation about startups, one place to start is this Community here on Twitter where we talk amongst ourselves…
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At its best, work is an amazing thing. Work can sustain us. Connect us. Delight us. That’s the future we want to be part of bringing into existence.
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P.S. If you want to tell others about us, we always want to meet new extraordinary founders... share away…
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It’s a funny thing how exciting it can be to… stay the same.
Today we’re announcing our next fund, our fourth (!) since we started Bloomberg Beta almost a decade ago (!?).
We’re grateful to all the founders who invited us to back them all this way.
And wait there’s more 
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