Work-Bench Raises $160M for New York VC Fund

Work-Bench Secures $160 Million for New York City-Focused Fund

Work-Bench, known for its investments in successful companies like Spring Health and Socure, has recently closed a $160 million Fund IV.

This new fund is strategically focused on significantly increasing the firm’s support for companies based in New York City.

Focus on Seed-Stage Enterprise Software

The announcement was made via a blog post on Monday, detailing that Fund IV will be dedicated to supporting founders at the seed stage who are developing enterprise software solutions.

Investment amounts will vary between $2 million and $4 million per company.

The firm is actively seeking businesses innovating in key areas such as AI, cybersecurity, developer tools, and broader enterprise applications.

Smooth Fundraising Reflects Consistent Performance

According to Jonathan Lehr, co-founder of Work-Bench, the fundraise was the most efficient to date for the company.

This success is attributed to Work-Bench’s consistent and “disciplined” approach since its inception in 2013.

Maintaining this discipline is considered particularly important given the current, rapidly evolving landscape driven by AI advancements.

Investment Targets

Work-Bench anticipates investing in approximately 23 to 25 companies through Fund IV.

The firm’s strategy centers on identifying and nurturing promising early-stage ventures within the New York City ecosystem.