Benchmark boasts $500m fund

According to a report on Private Equity Hub, venture capitalist firm Benchmark has closed another funding round, totaling some $500m.

The firm’s sixth funding round is said to be 20 per cent bigger than its fifth funding round from 2004.

Benchmark has invested in a number of games firms, including Codemasters, Red 5 Studios, NaturalMotion and Gaia Online. It also invested in Second Life creator Linden Labs, and has supported the likes of eBay.

The report adds that the money will be spent on opportunities on the West Coast, and in Europe via affiliate Balderton Capital.