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Benchmark raises its first-ever growth fund as part of $2B capital raise

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1 hour ago

June 4, 2026

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Benchmark Capital, the storied Silicon Valley VC firm known for early investments in eBay, Snap, Uber, and Twitter, is breaking with one of its signature traditions: keeping its funds to about $425 million and backing only young startups. After more than two decades of restricting its vehicles to that amount or lower, the outfit has closed on commitments of $2 billion across two new funds, including a $1.25 billion vehicle dedicated to later-stage investments, according to the Wall Street Journal.

While the fund sizes of many venture capital firms have ballooned into billions of dollars over the last decade, Benchmark stuck to the strategy that helped make it legendary. By being staunchly selective and taking a large—typically 20%—stake in every startup the firm backed, it maintained a model designed to maximize outsized returns for its limited partners.

However, Benchmark’s relatively small fund sizes have likely prevented the firm from investing in capital-intensive AI startups, particularly foundation model makers, whose round sizes often reach into hundreds of millions. As a result, the firm hasn’t invested in Anthropic, OpenAI, or any of the other capital-intensive AI labs, such as Periodic Labs, Reflection AI, or Recursive Superintelligence.

Benchmark’s new $750 million early-stage fund will give the firm more flexibility to write checks in an environment where early-stage valuations have skyrocketed. While the firm has traditionally backed companies at the Series A stage, Benchmark has recently given itself more flexibility to invest in companies at other early stages of development.

In recent months, Benchmark backed two Series B startups: Gumloop, a platform that allows enterprises to create AI agents without writing code, and Monaco, an AI-native sales and CRM platform.

Benchmark general partner Everett Randle previously told TechCrunch that the firm looks to build a “meaningful and deep relationship with the entrepreneurs, and that can happen relatively early in the company’s lifecycle, at seed, [Series] A, at [Series] B.”

The firm dipped its toe into late-stage investing when it raised a $225 million special purpose vehicle (SPV) to participate in a $1 billion pre-IPO round for Cerebras, as TechCrunch reported earlier. Benchmark first led the chipmaker’s Series A in 2016. Cerebras held its IPO last month, returning Benchmark $3.25 billion at the IPO price.

That windfall prompted the firm to raise a dedicated growth fund. That new vehicle will make five to six large investments in both existing portfolio companies and new startups, according to a person familiar with Benchmark’s strategy.

The two new funds aren’t the only changes at Benchmark. Over the last two years, the firm has undergone a significant shift in its general partners.

In 2024, Miles Grimshaw left the firm to rejoin Thrive Capital. Then, last year, Sarah Tavel—Benchmark’s first and only female general partner to date—took on the less-involved role of venture partner, while Victor Lazarte departed to start his own VC firm.

To replenish its ranks, Benchmark — which traditionally runs with four to six general partners — added two new high-profile investors to its team: Randle, poached from Kleiner Perkins, and Jack Altman, the brother of OpenAI CEO Sam Altman. The moves suggest that even Benchmark, long defined by its resistance to growth, now sees the AI era as requiring a different playbook — more capital, more stages, and fresh blood at the partner table.

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Related Topics:Benchmark capital firstever fund growth part raise raises

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From €750K to €30 Million: Rapid Transformation of Nigerian Wonderkid Zadok Yohanna,

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15 minutes ago

June 4, 2026

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At just 18 years old, Nigerian winger Zadok Yohanna has become one of the hottest young properties in European football after a meteoric rise at Swedish giants AIK Fotboll.

Only 10 months ago, the teenage sensation completed a modest €750,000 move from Kaduna-based Ikon Allah Football Academy to Sweden.

Today, some of Europe’s biggest clubs are reportedly preparing offers worth around €30 million for the explosive forward — a staggering increase in value that underlines his remarkable transformation.

Yohanna’s rapid emergence has turned him into arguably the most sought-after Nigerian teenage attacker in world football.

The Nigerian Neymar Taking Sweden by Storm

Born in Bauchi State and developed in Kaduna, Yohanna arrived in Sweden largely unknown outside Nigerian grassroots football circles.

But it took only a few months for the left-footed winger to explode onto the European scene.

Operating mainly from the right wing, Yohanna has dazzled fans with blistering pace, fearless dribbling, direct attacking play, and an eye for goal.

His electrifying style has already earned comparisons to Brazilian superstar Neymar, with many Swedish observers dubbing him the “Nigerian Neymar.”

During the 2026 season, the teenager quickly established himself as a first-team regular for AIK, producing goals, assists, and match-winning moments that have attracted elite-level attention across Europe.

One of his biggest breakout moments came when he scored a dramatic late winner on his league debut against Halmstads BK — instantly announcing himself to Swedish football.

Europe’s Biggest Clubs Circle

Yohanna’s rise has triggered a fierce transfer race among top European clubs.

Reports in Sweden and England suggest that Brighton & Hove Albion F.C. are currently leading the chase after holding advanced talks over a possible deal.

Meanwhile, Newcastle United F.C. are believed to have tabled one of the biggest financial proposals, with figures reportedly reaching €24 million.

European heavyweights including Newscastle FC, Chelsea F.C., Real Madrid CF, Borussia Dortmund, and Bayer 04 Leverkusen have also been strongly linked with the teenager.

AIK officials have already acknowledged growing interest in the Nigerian starlet and hinted that any transfer could shatter the club’s existing transfer record.

Should a deal close near the reported valuation, Yohanna would become one of the most expensive Nigerian teenagers ever sold directly from Scandinavia.

Why Clubs Want Him

Scouts across Europe are reportedly fascinated by Yohanna’s rare combination of athleticism and flair.

Strengths

Explosive acceleration and elite recovery speed

Exceptional 1v1 dribbling ability

Dangerous inverted winger profile cutting in from the right

Confident finishing under pressure

Creativity in transition attacks

Fearless mentality despite his age

His ability to attack defenders directly and produce moments of magic in tight spaces has made him one of the most exciting young wingers currently playing outside Europe’s top five leagues.

Areas Still Developing

Like most teenage attackers, Yohanna is still refining aspects of his game.

Observers believe he can still improve:

Defensive tracking and off-ball discipline

Tactical adaptation against compact defensive systems

Physical consistency over full 90-minute performances

Decision-making in high-pressure situations

However, scouts believe his ceiling is extremely high due to his raw talent and confidence.

Super Eagles Recognition Arrives

Yohanna’s sensational performances earned him a maiden call-up to the Nigerian national team under coach Eric Chelle for the Unity Cup tournament in London.

However, AIK reportedly blocked his release in order to manage a physical knock and continue his rehabilitation process in Sweden.

Despite missing out on a possible debut, many already see him as part of the next generation of attacking stars for the Nigeria national football team.

From Kaduna Academy to Global Spotlight

The rise of Zadok Yohanna is another powerful reminder of Nigeria’s endless football production line.

From academy football in Kaduna to becoming a €20 million target within less than a year, the teenager’s journey represents one of the most dramatic breakthroughs by a Nigerian youngster in recent times.

And at just 18, his story may only be beginning.

Business

Leadway Begins Fourth Edition of Pages to Places Literacy Outreach Across Six States

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1 hour ago

June 4, 2026

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BY NKECHI NAECHE-ESEZOBOR—-Leadway, Nigeria’s leading non-banking financial and wellbeing conglomerate, has announced the commencement of the fourth edition of its flagship “Pages to Places” school outreach initiative. Scheduled to begin on June 3, 2026, the intervention will be rolled out across public primary schools in six key locations: Lagos, Warri, Ekiti, Port Harcourt, Kaduna, and Abuja, targeting underserved communities with critical educational resources.

Now in its fourth consecutive year, the “Pages to Places” initiative has become a cornerstone of Leadway’s corporate responsibility strategy aimed at improving educational outcomes for young Nigerians. By donating carefully curated literature books and deploying mobile libraries to beneficiary schools, the programme seeks to address gaps in primary education, strengthen baseline literacy levels, and cultivate a sustainable reading culture among children.

Speaking on the launch of the 2026 edition, the MD/CEO of Leadway Pensure, Olusakin Labeodan, emphasized the company’s long-term vision for child development. He noted that to secure the future, corporate organizations must intentionally invest in the total wellbeing of children today. He added that the initiative reflects Leadway’s enduring commitment to community development, providing children with the essential tools, confidence, and opportunities required to thrive and contribute positively to society.

Leadway’s focus on youth development during this period extended beyond literacy to encompass health and physical wellbeing. In commemoration of Children’s Day, the conglomerate partnered with Holdbodi to execute a community health outreach that supported over 3,000 children across the Agege, Ebute Metta, and Abule Egba areas of Lagos State. Furthermore, the company engaged with educational ecosystem stakeholders at the Akada Children’s Book Festival and sponsored the “Get Fit with Jhay” initiative to promote healthy, active lifestyles among young people.

Through these combined educational, wellness, and recreational interventions, Leadway continues to drive a holistic approach to corporate social responsibility, positioning education and health as interconnected pillars necessary for building resilient communities and securing a brighter future for the next generation.

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