Benchmark raises $425 million for new startup fund

Benchmark, a leading VC firm that has backed several successful startups like Instagram, Snapchat, Uber and Yelp — has recently raised $425 million for a new fund, according to Fortune. The details in an SEC filing reveal that the new money does come with some changes: firm co-founders┬áKevin Harvey and Bruce Dunlevie are no longer listed as general partners, and there is a chance a new general partner will join the team. Still, it’s another milestone for one of Silicon Valley’s most successful VCs, and the new money will help support the firm’s kingmaking abilities for the immediate future.