Bessemer Venture Partners traces its roots to 1911 when Henry Phipps established what was to become Bessemer Securities Corporation (BVP's principal limited partner) as an investment firm for the benefit of his descendants, starting with his share of the proceeds from the sale of Carnegie Steel. Today, BVP manages more than $4 billion of venture capital invested in over 130 companies. The firm focuses its investments in Cleantech, Cloud Computing, Data Security, Financial Services, Healthcare, India Opportunities, Israel Opportunities and Online Retail. Generally, Bessemer leads the first institutional round of equity in its portfolio companies, with investments that range from $4 to $10 million. At times the firm will participate in a later round of funding, and occasionally will make very small seed stage investments of under $1 million, or incubate companies in its offices in New York, Silicon Valley, Boston, Sao Paulo, Mumbai, and Herzliya, Israel.