Roy Bahat, head of venture firm Bloomberg Beta, has a sticker on his laptop that reads TTFM—a quippy acronym for “take the f–ing money.”
It’s the advice Beta’s founding partners—Bahat, Karin Klein, a former SoftBank vice president, and James Cham, a former Bessemer Venture Partners vice president—have been giving founders for years, urging them to raise money when they could and prepare for an eventual downturn.
“We’re people who constantly preach to raise more money and don’t spend it,” Bahat said in a phone interview with The Information last week.
Bloomberg Beta now has more cash to back up those words. The firm, set up and solely backed by financial data and media firm Bloomberg LP, has raised its fourth early-stage venture fund of $75 million, as well as a $75 million fund for additional investments in its existing portfolio companies. News of the funds has not been previously reported.