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Illustration: Megan Robinson/Axios

Bessemer Venture Partners is launching a growth buyouts practice to complement its early-stage and growth equity efforts, Axios has learned. It will be led by Rob Arditi, who previously was a general partner with Norwest Venture Partners.

Why it matters: The venture capital market has gotten very crowded, but relatively few firms have moved upstream into actual buyout transactions.

  • BVP Forge, as the new group is being called, will focus on both control and significant minority deals in software, internet and tech-enabled services companies.
  • "Bessemer sold Applitools to Thoma Bravo and Clio to TCV, so it's been these deals from the other side and have some pattern recognition from it," Arditi says. "We see ourselves buying some of those VC-backed companies, and also buyouts of more traditional, founder-owned companies."
  • Arditi declined to discuss fundraising plans, citing regulatory restrictions, but expect BVP to soon begin pitching a growth buyout fund to prospective investors.

Go deeper

Jan 13, 2022 - Health

Jumpstart launches fund for Black founders

Illustration: Shoshana Gordon/Axios

Nashville-based Jumpstart Health Investors launched Jumpstart Nova, the first U.S. venture fund to exclusively back Black-founded and led health care companies.

  • Major players including Eli Lilly, HCA Healthcare and the American Hospital Association injected $55 million.

Why it matters: A tiny fraction of existing health tech companies have Black leaders at the helm — a result of decades of systemic racism and the institutional barriers it has created.

Updated 20 mins ago - Energy & Environment

Bomb cyclone prompts blizzard warnings from Virginia to Maine

Computer model projection showing the intense storm off of Cape Cod on Jan 29, 2022, with heavy snow and strong winds lashing the coastline. (Weatherbell.com)

Blizzard warnings are in effect for 11 million people from coastal Virginia to eastern Maine as a potentially historic winter storm is set to slam the Mid-Atlantic and Northeast beginning Friday.

Why it matters: The storm will bring hazards ranging from zero visibility amid hurricane force wind gusts and heavy snow, to coastal flooding that will erode vulnerable beaches and threaten property from the Jersey shore to coastal Massachusetts.

Updated 3 hours ago - Politics & Policy

Swastikas found outside Union Station in D.C.

People walk through Union Station on Jan. 16 in Washington, D.C. Photo: Spencer Platt/Getty Images

Drawings of swastikas appeared etched around the entrance to Union Station in Washington, D.C., on Friday morning.

Driving the news: "An investigation is underway with Amtrak Police and the Metropolitan Police Department after swastikas were reported on the exterior of Washington Union Station on Friday," Amtrak spokesperson Kimberly Woods said in a statement to Axios.

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