Work-Bench, a venture capital firm with a portfolio that includes notable unicorns such as Spring Health and Socure, has successfully raised a $160 million Fund IV, which will be utilized to increase its investment in companies based in New York City fourfold.

In a blog post announcement made on Monday, the firm revealed the details of the fundraise, outlining its plans to allocate the new fund towards supporting seed-stage founders who are developing innovative enterprise software solutions. The investment checks are expected to range from $2 million to $4 million, with a specific focus on companies that are building products in areas such as artificial intelligence, cybersecurity, developer tools, and enterprise applications.

According to Jonathan Lehr, co-founder of Work-Bench, the firm intends to invest in approximately 23-25 companies using the proceeds from Fund IV. Lehr noted that this latest fundraise was the most straightforward to secure, attributing this to the firm’s consistent discipline since its inception in 2013, a trait that has become even more valuable in today’s fast-paced environment driven by advancements in artificial intelligence.