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BSF II GP
Michael Himelstein's BSF II GP operates as a hybrid venture firm with roots in a single-family-office anchor LP.
BSF II GP
BSF II GP launched in 2016 when Michael Himelstein departed Salesforce, where he had served as Senior Vice President of Strategic Planning and M&A. The firm's name reflects its structure: BSF stands for "Benioff," the anchor LP for the inaugural fund. This architecture gave the vehicle permanent capital characteristics uncommon in traditional venture, with a single-family-office partner providing patient funding horizons. The firm targets early-stage and growth-stage technology companies, primarily in enterprise software, fintech, digital health, and consumer internet. BSF II GP invests globally, with known positions in the United States and Israel. Confirmed portfolio companies include revenue intelligence platform Gong, independent contractor management platform Papaya Global, and business management platform HoneyBook. The firm participates in both seed and later-stage rounds, often co-investing alongside established venture franchises. Himelstein operates from New York and manages a concentrated portfolio. The firm does not publicly disclose team size or total deployment figures. In addition to direct venture investments, BSF II GP maintains relationships with the Benioff philanthropic ecosystem, though these are structurally separate entities. BSF II GP's structural differentiator is its origin as a single-LP vehicle for a major technology founder. That architecture grants the firm deployment flexibility and timeline patience rare among traditional venture managers. The Salesforce relationship provides a unique lens on enterprise buying patterns that shapes sourcing and diligence.
General information
Firm type
Asset Manager
Year founded
2016
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Michael S. G. Himelstein
Managing Partner
Sector focus
Frequently asked questions
Who founded BSF II GP and what is the firm's background?
Michael Himelstein founded BSF II GP in 2016 after leaving Salesforce, where he was Senior Vice President of Strategic Planning and M&A under Marc Benioff. The firm was structured with Benioff as the anchor limited partner for its first fund, which influenced both its name and its investment posture. Himelstein runs the firm from New York.
How is BSF II GP structured as an investment vehicle?
BSF II GP was formed as a vehicle backed initially by a single anchor LP — Marc Benioff — giving it characteristics closer to a family-office venture platform than a traditional blind-pool fund. This structure provides longer holding periods and flexibility in capital deployment compared to standard venture capital firms. The firm operates with a concentrated portfolio approach.
Which companies has BSF II GP backed?
BSF II GP's known portfolio includes Gong, the revenue intelligence platform; Papaya Global, a payroll and workforce management company that reached a $3.7B valuation in 2023; and HoneyBook, a business management platform for independent professionals. The firm invests across seed and growth stages in enterprise software, fintech, and digital health.
What is BSF II GP's relationship with Salesforce and Marc Benioff?
Michael Himelstein previously led strategy and M&A at Salesforce under Marc Benioff. When he left to launch BSF II GP in 2016, Benioff served as the anchor limited partner for the firm's debut fund. The relationship provides the firm with insight into enterprise software adoption patterns, though BSF II GP operates independently.
Does BSF II GP invest globally or primarily in the US?
BSF II GP invests across the United States and Israel, with known exposure in both geographies. The firm's portfolio includes Israel-based Papaya Global alongside US-headquartered companies. Its investment mandate does not appear to be constrained by geography.
How does BSF II GP source deals?
The firm leverages Michael Himelstein's network from his tenure at Salesforce, which includes relationships with enterprise software founders, venture capital firms, and strategic acquirers. BSF II GP commonly co-invests alongside traditional venture franchises, suggesting a collaborative sourcing model rather than proprietary origination.
What investment stages does BSF II GP target?
BSF II GP invests across early and growth stages. The firm has participated in seed rounds as well as later-stage raises such as Papaya Global's Series D. Its single-LP structure provides the flexibility to hold positions longer than conventional venture funds typically permit.
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