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Bling Capital raises $270M Fund IV to invest in and double-down on young startups

Nancy Dahlberg
Nancy Dahlberg
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By Nancy Dahlberg

Bling Capital, a prominent seed-stage venture firm with $750 million under management, has raised $270 million for a new fund. The flagship fund will be Bling’s fourth, and the money will be split across two buckets, one for pre-seed and seed-stage startup rounds and the other for follow-on investments.

“Since launching Bling Capital in 2018, we have been obsessed with backing the best early stage founders and assisting in their journey to build generational companies. We are excited to have the opportunity to partner with this next generation of entrepreneurs,” said Founding General Partner Benjamin Ling in a LinkedIn post.

Ling, now in Miami, is a former GP at Khosla Ventures who has also held senior Silicon Valley tech roles at companies including Google, YouTube and Facebook. He was an early backer of companies including Lyft, Palantir, Square, Airtable and more, and has notched 19 unicorns, according to TechCrunch. This year, Ling ranked 5th on the Midas Seed List. Produced by Forbes and TrueBridge Capital Partners, the list is a ranking of the Top 25 seed stage investors globally.

Since 2018, Bling Capital has invested in 170 companies, including Miami’s OpenStore and Payabli as well as Grata, Printify, Rippling, Veho, and Vise that the firm highlighted as emerging leaders in its announcement. The Miami Beach-based firm now has a 10-member investing team and also has a presence in San Francisco, New York City, Seattle, Austin and Los Angeles.  

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The firm operates a Product Council made up of leaders at major tech firms that help advise Bling’s startups. With the new fund, the firm’s network is adding dozens of advisors to the network from startups and companies including Calendly, Duolingo, Grammarly, Notion, OpenAI, Scale AI, and Stripe.

Every major existing LP recommitted to Fund IV, and it was “substantially oversubscribed,” the firm reported.

“We believe that it is a great time to be an entrepreneur,” Bling Capital said in its announcement. “AI will touch nearly every industry and sector, including our core focus areas: vertical and horizontal software, healthcare, financial services, consumer internet, and marketplaces.”

More seed-stage funding is good news for the Miami-Fort Lauderdale metro area, rich in early-stage startups. In the first half of 2024, 80 percent of the 199 venture rounds in our area went to pre-seed, seed or Series A companies, with 38% of them being seed rounds, the largest category by far.

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Nancy Dahlberg
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