# Benchmark

Benchmark is a Venture Capital based in Gig Harbor, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Gig Harbor, United States
- **Region:** North America
- **Address:** Menlo Park, New York, Woodside, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** www.benchmark.com
- **LinkedIn:** https://www.linkedin.com/company/bmkmgt
- **Wikidata:** Q816754

## About

Executive Protection and Secure Transportation Services in The U.S - Mexico and LATAM | Benchmark is a security consulting company with operations in the United States, Mexico and Latin America. Founded in 2016 the company has rapidly expanded with operations across 13 different countries and 3 continents. We have offices in Seattle, Mexico City, Los Cabos, Costa Rica and field offices in Puerto Vallarta, Los Angeles and Chicago.

## Sectors

- Enterprise Software
- Consumer Tech
- AI/ML
- FinTech
- Mobility & Transportation

## People

- Bill Gurley — General Partner
- Peter Fenton — General Partner
- Eric Vishria — General Partner
- Chetan Puttagunta — General Partner
- Miles Grimshaw — General Partner
- Victor Lazarte — General Partner

## Questions

### How is Benchmark's partnership structured differently from other venture firms?

Benchmark operates as an equal partnership where all General Partners share economics equally—a structure nearly unique in venture capital. There are no junior investors, associates, or analysts. The firm has never raised a fund larger than $425 million, deliberately resisting the industry trend toward multibillion-dollar, multi-stage platforms. This forces partner-level engagement on every investment decision.

### Who makes investment decisions at Benchmark?

All six General Partners—Bill Gurley, Peter Fenton, Eric Vishria, Chetan Puttagunta, Miles Grimshaw, and Victor Lazarte—operate as equal decision-makers. The firm does not employ a management committee structure or CEO. Decisions are made by consensus among the partnership, a model that has remained intact since the firm's founding in 1995.

### Does Benchmark participate in growth-stage or late-stage rounds?

No. Benchmark invests almost exclusively at the early stage—Seed, Series A, and Series B rounds. The firm believes the venture industry's expansion into growth equity creates asset-gathering incentives that dilute returns. By staying narrowly focused on company formation, Benchmark concentrates partner time on the highest-conviction opportunities.

### How does Benchmark source proprietary deal flow?

Benchmark's small, flat partnership operates without a platform team or business development function. All sourcing happens through each General Partner's personal network of founders, executives, and repeat entrepreneurs. The firm's board seats on category-defining companies—Uber, Snap, Confluent, Docker—also generate proprietary inbound from alumni networks and operator referrals.

### What investment stages does Benchmark typically target?

Benchmark leads Seed, Series A, and Series B rounds, writing initial checks between $5 million and $20 million. The firm reserves substantial capital for follow-on investments in breakout companies. Importantly, the firm does not raise opportunity funds or growth vehicles, so follow-on dollars come from the same fund as the initial investment.

### Has Benchmark experienced any significant succession challenges?

No—Benchmark is widely considered one of the most successful GP transition stories in venture capital. The firm has added exactly two new partners per decade (Fenton in 2006, Vishria and Puttagunta in 2018, Grimshaw in 2020, Lazarte in 2023), each time maintaining the equal-economic structure without creating second-class carry holders. The original founders have fully transitioned out of daily operations.

## Related profiles

- [Benaroya Companies](https://altss.com/profile/benaroya-companies)
- [Benchu Capital](https://altss.com/profile/benchu-capital)

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Last updated: 2026-07-06T00:31:25.158Z

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