Benchmark, the storied enterprise agency, has introduced aboard a fifth common accomplice: 29-year-old Miles Grimshaw, a Yale graduate who joins the outfit from Thrive Capital, the place he equally joined a group of 4 different companions again in 2013, serving to them increase the agency’s fourth and fifth funds (per Forbes).
From his submit as a common accomplice with New York-based Thrive, Grimshaw had sourced offers in a few of at this time’s buzziest startups and served on their boards, together with Lattice, Mapbox, Benchling and Airtable, attending to know fellow buyers at Benchmark within the course of.
He represented Thrive on the board of Benchling — whose software program helps lab scientists handle their biotech analysis — with Eric Vishria, a former entrepreneur and operator who joined Benchmark as a common accomplice in 2014.
Grimshaw additionally represented Thrive on the board of the cloud collaboration software program firm Airtable with Peter Fenton, who turned the longest-serving common accomplice at Benchmark this 12 months, as famed VC Bill Gurley started transitioning out of an energetic function on the agency. (Fenton was poached from Accel again in 2006.)
Bill Gurley is stepping away from an energetic function at Benchmark, 21 years after becoming a member of the agency
And Grimshaw has been serving on a board with Benchmark’s Sarah Tavel, who was herself poached by the agency in 2017, from Greylock. That firm is Supergreat, a two-year-old, New York-based web site for magnificence fanatics that’s constructing a group of tourists who grow to be reviewers, who then grow to be buyers.
Supergreat is amongst Benchmark’s latest bets. It was introduced earlier this month that Benchmark led the startup’s $6.5 million Series A spherical.
Before hiring Grimshaw, Benchmark’s latest common accomplice was Chetan Puttagunta, who joined the agency in 2018 from New Enterprise Associates, the place he spent greater than seven years.
Benchmark has finished higher than some companies in relation to succession, even whereas lots of its common companions stay concerned in startups lengthy after they transfer on from the agency’s day-to-day operations.
Firm cofounder Bruce Dunlevie, for instance, joined the board of WeWork again in 2012. He’s now a part of a lawsuit alleging fellow investor WeWork investor SoftBank of breach of contract and breach of fiduciary responsibility, after SoftBank deserted a young provide to purchase out earlier shareholders folllowing WeWork’s pulled IPO final 12 months.
Reportedly, Matt Cohler — a former Facebook exec who was left an energetic function as a common accomplice with Benchmark in 2018 after a decade with the agency — additionally helped Benchmark safe its spot in summer season because the lead Series A investor in Popshop Live, a livestreaming e-commerce platform. According to The Information, to assist seal the deal, Cohler agreed to hitch the startup’s board of administrators.
In addition to Cohler and Gurley, who’ve stepped again lately, Mitch Lasky, who joined the agency in 2007, additionally stepped away from its core group in 2018.
Benchmark made it identified this summer season that it was trying to carry aboard a fifth accomplice, one who seemingly completes the agency’s roster for now. As Fenton instructed us in September when he sat down with us at our TechCrunch Disrupt occasion, Benchmark “can’t scale. When we’ve gotten above six companions, the agency doesn’t work so properly.”
Fenton talked at some size about how Benchmark views the composition of its group. We additionally talked about that WeWork deal. If you’re curious to study extra, you may watch that interview under.