Bessemer Venture Partners said today that it has closed a $1 billion fund, Bessemer Venture Partners VII. The firm said that the oversubscribed fund will focus on innovative, high growth companies, and have $350M dedicated to investments in India. According to Bessemer, the fund's limited partnerse included Bessemer Securities Corporation, the Phipps family office. The firm also said that it added a small number of new limited partners, including family offices, universities, and foundations. Bessemer highlighted the fund's significant Indian focus, saying that it has now invested in twelve Indian companies to date.