Bessemer Venture Partners announced two new funds totaling $5.75 billion on Wednesday, aimed at investments throughout the AI stack. Of that amount, $1.75 billion is reserved for seed and early-stage companies and $4 billion for growth businesses. Its portfolio includes Anthropic, Cognition, Legora, Perplexity, Ramp, Shopify and Waymo.

Bessemer has been well-known as a leading VC in the SaaS era, with a particular knack for picking enterprise winners, like Box, Docusign, and Gainsight. Since 2022, it has invested in more than 260 AI-native companies. So far, the firm has invested $3 billion into AI-related startups, it says, including those focused on compute, infrastructure, foundation models, dev tools, app-layer startups, and agentic tech.

Now, Bessemer positions all things AI as the opportunity of a lifetime — a common sentiment, until the next big trendy tech revolution comes around, of course.

“AI-native companies are scaling faster than any category of technology we’ve backed before,” Bessemer Partner Byron Deeter said in the company’s funding announcement. VC firms also need to keep increasing their war chests, Deeter told Bloomberg, because companies staying private longer has become “a permanent structural shift.”