Venture Capital · Profile from Venture Capital Research Companion
Horsley Bridge Partners
The quiet San Francisco fund-of-funds that has, since 1983, been one of the most consistent institutional limited partners in top-tier venture capital — packaging access to Kleiner Perkins-era Sand Hill Road, then to European, Asian and growth-buyout managers, for pensions, endowments and foundations that could not get in on their own.
At a glance
- Founded
- 1983, San Francisco
- Founders
- Phillip (Phil) Horsley and Gary Bridge (reported in several profiles; early biographical detail is thin in the public record)
- Headquarters
- San Francisco, with offices in London and Beijing (Beijing presence reported; its role after the 2024 China pull-back is unclear (verify))
- Ownership / structure
- Private, employee-owned partnership; SEC-registered investment adviser; manages commingled fund-of-funds vehicles and separate accounts
- Leadership (2026)
- Run by a group of managing directors rather than a single public figurehead; Jon Roller reported as chief investment officer; other managing directors reported include Du Chai and Kathryn Mayne (roster from third-party profiles, verify)
- AUM / capital raised
- ~$15–24bn of assets under management depending on source and date; ~$23.7bn regulatory AUM reported for March 2023
- Stage focus
- Primary commitments to venture capital funds (seed through multi-stage), growth equity and small/mid "growth buyout" funds, mainly technology; historically US, Europe and Asia (including China until 2024)
- Signature investments
- Long-standing LP relationships with Kleiner Perkins and Foundation Capital (reported); LP in Benchmark Capital Europe's 2006 fund (later Balderton Capital); Odin Equity Partners (Denmark). Misses and setbacks: heavy 1998–2000 vintage exposure; the 2024 retreat from China and from multi-stage managers
4 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2006
Benchmark Capital Europe
LP Commitment to Fund III
2008
Horsley Bridge Fund IX
US Venture and Growth Buyout Fund-of-Funds
2009
Horsley Bridge Europe Asia Fund
International Fund-of-Funds
2024
Horsley Bridge Venture 15
Narrowed US Venture Fund-of-Funds