BOND

Reviewed Updated May 15, 2026

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Location San Francisco, CA
Founded 2019
Fund Size $5.75B total across three funds
Website https://www.bondcap.com
Stage Focus
growth late-stage
Sector Focus
saas consumer fintech ai developer-tools

Team

Mary Meeker General Partner
Mood Rowghani General Partner
Noah Knauf General Partner
Juliet de Baubigny General Partner
Daegwon Chae General Partner
Jay Simons General Partner
Paul Vronsky General Partner

About

BOND is a global technology investment firm founded in late 2018 as a spinout of the Kleiner Perkins Digital Growth Fund 12. The firm was launched by Mary Meeker, who had previously managed Morgan Stanley’s global technology research practice and co-led Kleiner Perkins’ Digital Growth Fund 3. BOND is headquartered in San Francisco, California 4.

The firm raised $1.25 billion for its debut fund (Fund I) in April 2019 1, $2 billion for Fund II in March 2021 2, and $2.5 billion for Fund III in April 2022 5, bringing total committed capital to approximately $5.75 billion across three funds. Meeker also continues to co-lead three Kleiner Perkins Digital Growth Funds totaling $2.8 billion in committed capital 3.

BOND operates with a small, senior-heavy partnership of seven general partners: Mary Meeker, Mood Rowghani, Noah Knauf, Juliet de Baubigny, Daegwon Chae, Jay Simons, and Paul Vronsky 6. Jay Simons, former president of Atlassian, was brought aboard to lead the firm’s global enterprise practice 6. Daegwon Chae leads investments in companies that use technology to modernize large, operationally complex industries like logistics, home improvement, and agriculture 7.

As of early 2026, BOND has invested in approximately 130 companies over seven years, with 51 unicorns in its portfolio 8. BOND describes itself as supporting “visionary founders throughout their entire life cycle of innovation & growth” 4.

BOND’s first investment was a participation in Canva’s $70 million funding round in May 2019, which valued the Australian design platform at $2.5 billion 9.

Stated Thesis

(Self-reported: These represent what BOND says publicly about its approach. See Inferred Thesis for analysis of actual investment behavior.)

BOND publicly positions itself as a research-driven growth investor. The firm combines Mary Meeker’s famous multi-hundred-page macro research reports (the “Internet Trends” reports, first published in 1995, and more recently AI/tech trends reports) with late-stage investing 36.

The firm describes its approach as focusing on companies that have already proven product-market fit and helping them “architect global expansion and IPO readiness” 6. BOND positions itself as both a macro research house and a capital provider for category-defining internet and software businesses 6.

BOND’s stated check size ranges from $100K to $25M 6. The firm describes its focus sectors as SaaS, fintech, AI, consumer, and enterprise 6.

Mary Meeker has stated regarding Canva: “The Canva team are building their platform around three trends — content, community and commerce” 9.

Inferred Thesis

Based on 15 verified current portfolio companies from BOND’s website 3 and additional sources. Sample size is modest relative to the firm’s 130 total investments. Note: Intercom is associated with Mary Meeker’s prior Kleiner Perkins Digital Growth Fund tenure and is not counted as a BOND investment per the exclusion noted below.

Stage distribution: BOND is primarily a late-stage investor, majoring in Series C and Series D rounds 8. The firm’s check size range of $100K-$25M 6 suggests flexibility but with a growth-stage center of gravity.

Sector breakdown (based on 15 verified portfolio companies): The portfolio spans enterprise software (Applied Intuition, Ironclad, Sentry — 3 of 15, 20%), consumer platforms (Canva, Hipcamp, Nextdoor, Outschool — 4 of 15, 27%), fintech (Plaid, Block/Square — 2 of 15, 13%), AI/deep tech (OpenEvidence, ElevenLabs — 2 of 15, 13%), workforce/HR (Multiverse, Seso, Checkr — 3 of 15, 20%), and marketplace/commerce (Material Bank — 1 of 15, 7%) 3.

Geographic patterns: Portfolio companies are predominantly US-based, with notable exceptions including Canva (Australia) and Multiverse (UK) 3.

Prior investments (via Kleiner Perkins Digital Growth Fund): Meeker’s track record from Kleiner Perkins includes Airbnb, DocuSign, Instacart, Meta, Pinterest, Ring, Snap, Spotify, and Waze 3, demonstrating a strong orientation toward consumer-facing technology platforms that benefit from network effects.

Founder profile patterns: The portfolio skews toward companies with strong product-market fit in large addressable markets, consistent with BOND’s stated growth-stage focus.

Notable gap: Despite describing itself as focused on “SaaS, Fintech, AI, Consumer, Enterprise” 6, the current portfolio shows more consumer and workforce/HR companies than a pure enterprise SaaS thesis would suggest.

Portfolio

Company Stage Year Sector Status Source
Canva Growth ($70M round, BOND debut investment) 2019 Design/Consumer Active 91011
Applied Intuition Series E (participant; $250M round led by Lux Capital, Elad Gil, Porsche) 2024-03-12 Autonomous Vehicles Active 3121314
~unknown Block (Square) Growth — Fintech Active (Public)
~unknown Checkr Growth — HR Tech Active
~unknown Dapper Labs Growth — Web3/NFT Active
ElevenLabs Growth 2026 AI Active 8
~unknown Genies Growth — Digital Avatars Active
~unknown Hipcamp Growth — Consumer/Travel Active
Ironclad Series D (lead, $100M) 2021-01-14 Legal Tech Active (~$950M post-money) 3192021
~unknown Material Bank Growth — Marketplace Active
Multiverse Growth (participated) 2026-05-15 EdTech / AI Workforce Training Active ($2.1B valuation) 318
~unknown Nextdoor Growth — Consumer/Social Active (Public)
OpenEvidence Series C (participated, $200M) 2025-10-20 AI/Healthcare Active ($6B valuation) 3151617
~unknown Outschool Growth — EdTech Active
~unknown Plaid Growth — Fintech Active
Sentry Series D (participated, $60M; later co-led $90M Series E on 2022-05-04) 2021-02-18 Developer Tools Active (~$3B+ valuation) 6222324
~unknown Seso Growth — Workforce/AgTech Active

This table represents approximately 14% of BOND’s 130 total investments 8. Many investments lack publicly confirmed investment years. Prior investments made through Kleiner Perkins Digital Growth Fund (including Airbnb, DocuSign, Instacart, Meta, Pinterest, Snap, Spotify) are not included as they predate BOND’s formation.

In Their Own Words

Mary Meeker on Canva: “The Canva team are building their platform around three trends — content, community and commerce” 9.

BOND describes its mission as supporting “visionary founders throughout their entire life cycle of innovation & growth” 4.

The firm positions its approach as combining “multi-hundred-page macro research” with “senior operator partnerships” to “scale proven product-market-fit companies for global expansion and IPO readiness” 6.

What Founders Say

No independently sourced founder testimonials found. BOND’s website does not feature public founder testimonials, and dedicated searches for portfolio founder quotes about their experience with BOND did not yield results.

Sources

  1. TechCrunch, “Mary Meeker raises $1.25B for Bond, her debut growth fund,” April 24, 2019. https://techcrunch.com/2019/04/24/mary-meeker-raises-1-25b-for-bond-her-debut-growth-fund/↩↩

  2. TechCrunch, “Mary Meeker’s Bond has closed its second fund with $2 billion,” March 3, 2021. https://techcrunch.com/2021/03/03/mary-meeker-bond-2-billion/↩↩

  3. BOND website, “Mary Meeker” partner page, accessed March 2026. https://www.bondcap.com/partners/mary-meeker/↩↩↩↩↩↩↩↩↩↩↩

  4. BOND website, homepage, accessed March 2026. https://www.bondcap.com/↩↩↩

  5. Axios, “Bond Capital raises $2.5 billion for third fund,” April 1, 2022. https://www.axios.com/2022/04/01/bond-capital-raises-25-billion-third-fund↩

  6. VCSheet, “Bond - VC Fund Breakdown,” accessed March 2026. https://www.vcsheet.com/fund/bond↩↩↩↩↩↩↩↩↩↩↩

  7. VCSheet, “Daegwon Chae (Bond),” accessed March 2026. https://www.vcsheet.com/who/daegwon-chae↩

  8. Tracxn, “Bond Capital - 2026 Investor Profile,” accessed March 2026. https://tracxn.com/d/venture-capital/bondcapital/__P9BMcH1fKN95ZHkjHMGJNhxm-PfyROcevL1hnBOqYns↩↩↩↩

  9. Fortune, “Mary Meeker Makes First Investment Out of Bond Capital,” May 21, 2019. https://fortune.com/2019/05/21/mary-meeker-canva-bond/↩↩↩↩

  10. TechCrunch, “Graphic design platform Canva valued at $2.5B with new funds,” May 20, 2019. $70M round with Bond, General Catalyst, Felicis, Blackbird. Total raised $166M. https://techcrunch.com/2019/05/20/graphic-design-platform-canva-valued-at-2-5b-with-new-funds/↩

  11. Bloomberg, “Mary Meeker’s New Fund Chooses Australian Startup for Debut Deal,” May 20, 2019. https://www.bloomberg.com/news/articles/2019-05-20/mary-meeker-s-new-fund-chooses-australian-startup-for-debut-deal↩

  12. Applied Intuition blog, “Series E drives $6 billion valuation,” March 12, 2024. BOND (Mary Meeker) listed as participant alongside a16z, Lux, Elad Gil, Porsche, and others. https://www.appliedintuition.com/blog/series-e↩

  13. TechCrunch, “Applied Intuition lands $6B valuation for AI-powered autonomous vehicle software,” March 12, 2024. “Others joining the round were Andreessen Horowitz, Mary Meeker’s growth fund Bond, and even Formula 1 world champion Nico Rosberg.” https://techcrunch.com/2024/03/12/applied-intuition-series-e-raise-funding-andreessen-lux/↩

  14. PR Newswire, “Applied Intuition, Inc. Grows to $6 Billion Valuation, Securing $250 Million in Series E Funding,” March 12, 2024. https://www.prnewswire.com/news-releases/applied-intuition-inc-grows-to-6-billion-valuation-securing-250-million-in-series-e-funding-to-advance-vehicle-software-and-ai-capabilities-302086239.html↩

  15. TechCrunch, “OpenEvidence, the ChatGPT for doctors, raises $200M at $6B valuation,” October 20, 2025, accessed May 2026. https://techcrunch.com/2025/10/20/openevidence-the-chatgpt-for-doctors-raises-200m-at-6b-valuation/ — Primary press source confirming October 20, 2025 announcement of $200M Series C at $6B valuation led by GV with Sequoia, Kleiner Perkins, Blackstone, Thrive, Coatue, Bond, and Craft participating. ↩

  16. SiliconANGLE, “Medical search engine startup OpenEvidence closes $200M investment led by GV,” October 20, 2025, accessed May 2026. https://siliconangle.com/2025/10/20/medical-search-engine-startup-openevidence-closes-200m-investment-led-gv/ — Independent confirmation of $200M Series C at $6B valuation, GV lead, BOND among participants. ↩

  17. Fierce Healthcare, “HLTH25: OpenEvidence valuation hits $6B with $200M series C,” October 20, 2025, accessed May 2026. https://www.fiercehealthcare.com/ai-and-machine-learning/hlth25-3-months-after-series-b-round-openevidence-raises-lands-200m — Independent contemporaneous confirmation; round announced at HLTH25 conference; BOND named among participants. ↩

  18. Tech.eu, “Euan Blair’s Multiverse raises $70M at $2.1BN valuation,” May 15, 2026. https://tech.eu/2026/05/15/euan-blair-s-multiverse-raises-70m-at-2-1bn-valuation/ — Multiverse’s €60M / $70M growth round on May 15, 2026 at €1.8B / $2.1B valuation was led by Schroders Capital with participation from General Catalyst, Lightspeed Venture Partners, D1 Capital Partners, Index Ventures, BOND, and StepStone Group. Cross-referenced with EU-Startups, “UK EdTech Multiverse lands €60 million funding round at €1.8 billion valuation,” May 15, 2026. https://www.eu-startups.com/2026/05/uk-edtech-multiverse-lands-e60-million-funding-round-at-e1-8-billion-valuation/↩

  19. PR Newswire, “Ironclad Raises $100 Million Series D Funding Round to Scale the New Standard for Business Contracts,” January 14, 2021. Accessed May 2026. https://www.prnewswire.com/news-releases/ironclad-raises-100-million-series-d-funding-round-to-scale-the-new-standard-for-business-contracts-301208177.html — Confirms January 14, 2021 announcement of $100M Series D led by BOND with new investor Lux Capital and existing investors Accel, Sequoia Capital, Y Combinator Continuity, and Emergence Capital participating. BOND general partners Mary Meeker and Mood Rowghani joined as board observers. ↩

  20. The Information, “Mary Meeker’s VC Firm Bond Invests in Ironclad at Nearly $1 Billion Valuation,” January 2021. Accessed May 2026. https://www.theinformation.com/articles/mary-meekers-vc-firm-bond-invests-in-ironclad-at-nearly-1-billion-valuation — Independent contemporaneous confirmation; reports post-money valuation of more than $950 million. ↩

  21. Fenwick & West, “Fenwick Represents Ironclad in $100 Million Series D Financing,” 2021. Accessed May 2026. https://www.fenwick.com/insights/experience/fenwick-represents-ironclad-in-100-million-series-d-financing — Third independent primary source: outside counsel announcement confirming $100M Series D led by BOND in January 2021. ↩

  22. Sentry, “Sentry Raises $60 Million in Series D Funding at $1 Billion Valuation,” press release, February 18, 2021. Accessed May 2026. https://sentry.io/about/press-releases/sentry-raises-60-million-in-series-d-funding-at-1-billion-valuation/ — Primary source: Sentry’s own announcement confirming $60M Series D led by Accel with NEA (existing) and BOND (new) participating, at $1B post-money valuation. ↩

  23. TechCrunch, “App monitoring platform Sentry gets $60 million Series D at $1 billion valuation,” February 18, 2021. Accessed May 2026. https://techcrunch.com/2021/02/18/app-monitoring-platform-sentry-gets-60-million-series-d-at-1-billion-valuation/ — Independent contemporaneous press confirmation of $60M Series D on February 18, 2021, led by Accel, with BOND joining as new investor. ↩

  24. Crunchbase News, “Sentry Triples Unicorn Valuation With New $90M Raise,” May 4, 2022. Accessed May 2026. https://news.crunchbase.com/enterprise/sentry-unicorn-funding-bond-accel/ — Confirms BOND’s continued participation: Sentry’s $90M Series E on May 4, 2022 was co-led by BOND and Accel at a valuation of more than $3 billion, with NEA (existing) and K5 Global (new) participating. ↩