Work-Bench, a venture capital firm, has announced the raise of a $160 million Fund IV to invest in seed-stage founders building enterprise software in New York City. The firm plans to support 23-25 companies, with checks ranging from $2 million to $4 million, focusing on AI, cybersecurity, developer tools, and enterprise applications.
Forecast for 6 months: Work-Bench is expected to announce its first investments from Fund IV within the next 6 months, with a focus on companies building innovative AI and cybersecurity solutions. This will likely attract more attention to the NYC tech scene and potentially lead to increased funding opportunities for startups in the area.
Forecast for 1 year: By the end of the year, Work-Bench is likely to have invested in at least 10 companies, with a significant portion of them being in the AI and cybersecurity sectors. This will further solidify NYC’s position as a hub for enterprise software development and attract more talent and investment to the area.
Forecast for 5 years: Over the next 5 years, Work-Bench is expected to become one of the leading venture capital firms in NYC, with a portfolio of over 50 companies. The firm’s focus on enterprise software and AI will likely lead to the creation of several successful unicorns, further establishing NYC as a major player in the global tech industry.
Forecast for 10 years: By the end of the decade, Work-Bench is likely to have played a significant role in shaping the NYC tech ecosystem, with a portfolio of over 100 companies and a reputation as one of the most successful venture capital firms in the world. The firm’s focus on enterprise software and AI will have led to the creation of several industry-changing technologies and the establishment of NYC as a global tech hub.
