Work-Bench, a New York City-based venture capital firm focused on enterprise tech, has closed its fourth fund at $160 million. They have nicknamed this fund Fund IV. On Monday, the firm shared the big news in a blog post. This re-commitment to the initiative is a testament to its growth and success since its launch in 2013. The fund’s goal is to invest $10M in support of seed-stage founders who are passionate about building enterprise software solutions.
This third Work-Bench fund is a continuation of the disciplined investment style that has marked Work-Bench’s strategy since it opened its doors a decade ago. According to co-founder Jonathan Lehr, this disciplined methodology has made the current fundraising experience the smoothest yet for the firm.
Work-Bench intends to invest in approximately 23 to 25 portfolio companies from Fund IV. They’ll issue their own individual checks in the $2 million to $4 million range. The company is especially keen on enterprise-focused early-stage startups developing AI, cybersecurity, developer tools, and enterprise applications.
“This is crucial as we navigate today’s AI frenzied environment,” – Jonathan Lehr.
The firm’s deep commitment to advancing novel and disruptive technologies in the energy and mobility sectors has made it a cornerstone of the energy-focused venture capital landscape. Work-Bench does primarily seed-stage investments. Their focus is pre-series A entrepreneurs who are addressing urgent needs and challenges that the market faces today.
Work-Bench’s strategic focus on enterprise software aligns with broader industry trends, as businesses increasingly seek advanced tools to enhance productivity and security. The firm’s knowledge of and experience with the sector are bottomless. That understanding will better equip it to identify and nurture those companies with the most potential to lead this fast-changing front.