Ben Ling is eager to move past 2020, but the year proved favorable for his venture firm. Ling, who established Bling Capital in 2018 – a nod to an old nickname – recently finalized $113 million in commitments across two new funds: a $77 million seed fund and a $36 million opportunity fund targeting successful companies within his existing portfolio.

This represents a substantial amount of capital for a fund led by a single general partner, particularly considering Bling Capital secured similarly sized funds – a $61 million seed fund and a $35 million opportunity fund – just two years prior. Ling notes that the committed capital could have been significantly higher, potentially double the amount, based on investor interest. “I actually had to decline investment offers,” he explains, referring to those eager to contribute.

This strong interest is understandable given Ling’s impressive background. Before founding Bling Capital in 2013, he held executive positions at prominent companies including Google, Facebook, YouTube, and again at Google.

Throughout his career, encompassing over five years at Khosla Ventures and prior angel investing activities – totaling “nearly 80” investments – Ling has backed 10 companies that have achieved “unicorn” status. These include Rippling, Airtable, Udemy, Quora, Instacart, Gusto, as well as publicly traded companies PagerDuty, Square, Lyft and Palantir.

Ling, a computer science PhD graduate from Stanford University, believes that operating as a solo general partner – supported by three principals – allows for quicker decision-making. “This is crucial,” he states, “as the ability to act rapidly can be the difference between securing a promising investment and missing out, something that can happen when navigating the consensus-building process inherent in partnerships.”

A robust network of contacts also plays a key role. Bling Capital’s investor base consists of approximately 100 limited partners, primarily composed of product and growth leaders, and founders from leading startups. Backers include Affirm CEO Max Levchin, Yelp CEO Jeremy Stoppelman, and Quora CEO Adam D’Angelo.

These connections are valuable because they often provide early insights into emerging opportunities. When these individuals learn of founders embarking on new ventures, they frequently direct those founders toward Bling Capital. Regarding potential conflicts of interest, Ling emphasizes a strict separation: “Our limited partners do not receive confidential information about companies unless the company’s CEO specifically requests that they be included in discussions with a select group of investors in the fund.”

Currently, Ling continues to make investments, stating that Bling Capital typically invests between $400,000 and $1 million for a 10% to 12% equity stake in seed-stage companies, and between $1 million and $3 million in later-stage deals.

Recent investments include Lime, a micromobility provider; Tempo, a home fitness company featuring a wall-mounted screen and focused on weight training; and Vise, which utilizes artificial intelligence to automate investment management tasks for financial advisors.

Earlier-stage investments encompass InFeedo, a four-year-old company based in Gurgaon, India, specializing in employee retention; Sprout Therapy, a Bay Area startup founded a year ago, leveraging technology to improve healthcare access for autistic children; and Hermeus, a 2.5-year-old company located in Atlanta, Georgia, working to develop a Mach 5 aircraft capable of traversing from New York to London in 90 minutes. (Bling Capital participated in both the seed and Series A funding rounds for Hermeus.)

Bling Capital’s investment scope is broad, primarily focused within the United States.

Ling attributes this to his experience working for large consumer companies while simultaneously developing commerce and SaaS solutions for their small and medium-sized business customers. He clarifies that Bling Capital generally avoids investments in areas where they lack a distinct advantage, such as “rockets, agricultural technology, biotechnology, or cryptocurrency.”

He jokingly adds that if Bling Capital receives a pitch from a biotech startup in London, it’s likely because other investors have already declined the opportunity, and they are considered a last resort.

Regarding the firm’s location, Ling is unsure if Bling Capital will remain in the Bay Area, and is considering relocating to either Austin or Miami, mirroring a trend among other founders and investors. He expresses concerns about the current situation in San Francisco, where he has family ties, and acknowledges a desire for a fresh environment after a challenging year.

From Ling’s viewpoint, location is not paramount. He believes that “significant opportunities still exist within the technology sector,” regardless of geographic location.