# Former Benchmark investors raise $1.252 billion for Diffusion ONE

_Published Tuesday, October 27, 2026 at 6:32 PM EDT · Capital · Latest · Tier 2 — Notable_

![Former Benchmark investors raise $1.252 billion for Diffusion ONE — Primary](https://techcrunch.com/wp-content/uploads/2023/12/GettyImages-1650189797.jpg?resize=1200,900)

Former Benchmark investors Victor Lazarte and Kris Fredrickson have raised $1.252 billion for their debut AI fund, Diffusion ONE, TechCrunch reported from SEC filings. The total exceeds the $800 million target Forbes reported in May.

The firm has already co-led Harvey's $550 million Series H with Lightspeed Ventures and participated in Etched's $300 million Series C, announced in July. Other filings show additional fundraising ambitions rather than completed raises: Trust Ventures filed Monday to seek $400 million for Fund V, while deep-tech investor Interlagos Capital is raising a $400 million Fund II.

## Sources

- [Venture Capital News | TechCrunch](https://techcrunch.com/2026/10/27/from-8vc-to-benchmark-heres-whats-hiding-in-october-sec-filings/)

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Canonical: https://techandbusiness.org/newswire/NZJ70J3OUQhYdSLUOOiwFY
Published: 2026-10-27T22:32:29.055Z
Story chronology: 2026-10-27T22:17:18.000Z
Retrieved: 2026-10-28T01:06:58.800Z
Publisher: Tech & Business (techandbusiness.org)