We present a combined experimental-numerical study on fracture initiation at the convex surface and its propagation during bending of a class of ferritic-martensitic steel. On the experimental side, so-called free bending experiments are conducted on DP1000 steel sheets until fracture, realizing optical and scanning electron microscopy analyses on the post mortem specimens for fracture characterization. A blended Mode I - Mode II fracture pattern, which is driven by cavitation at non-metallic inclusions as well as martensitic islands and resultant softening-based intense strain localization, is observed. Phenomena like crack zig-zagging and crack alternation at the bend apex along the bending axis are introduced and discussed. On the numerical side, based on this physical motivation, the process is simulated in 2D plane strain and 3D, using Gurson’s dilatant plasticity model with a recent shear modification, strain-based void nucleation, and coalescence effects. The effect of certain material parameters (initial porosity, damage at coalescence and failure, shear modification term, etc.), plane strain constraint and mesh size on the localization and the fracture behavior are investigated in detail.