With $3.5B in fresh capital, Kleiner Perkins is going all in on AI

In Brief

Kleiner Perkins, the salient U.S. task firm, announced connected Tuesday that it raised $3.5 cardinal successful caller superior crossed 2 funds, a important summation from the firm’s $2 billion fundraise little than 2 years ago.

The firm, founded backmost successful 1972, says it raised $1 cardinal for its 22nd early-stage task fund, and $2.5 cardinal for a abstracted conveyance designed to money late-stage maturation businesses.

The overmuch larger superior haul is not a surprise. Over the past fewer years, Kleiner Perkins has managed to unafraid aboriginal stakes successful a fig of fast-growing AI startups, including Together AI, Harvey, and OpenEvidence. The steadfast is besides an capitalist successful Anthropic and SpaceX, 2 companies expected to IPO this year.

At a clip erstwhile exits are fewer and acold between, Kleiner Perkins besides realized important returns from past year’s IPO of Figma, a plan bundle institution whose $25 cardinal Series B circular it led successful 2018. The steadfast besides reportedly scored a decent instrumentality erstwhile its portfolio institution Windsurf was acqui-hired by Google past summer.   

A steadfast celebrated for its legendary aboriginal bets connected Amazon and Google, Kleiner Perkins present operates with a thin squad of conscionable 5 partners. The steadfast has seen immoderate enactment turnover recently: Ev Randle departed for rival steadfast Benchmark, portion Annie Case has transitioned from spouse to an advisory role, a Kleiner Perkins spokesperson confirmed.

Kleiner Perkins joins a question of mega-raises from different VC firms. Thrive Capital precocious secured $10 billion successful caller commitments, portion General Catalyst is reportedly targeting a akin amount. Meanwhile, an SEC filing confirms TechCrunch’s earlier reporting that Founders Fund has closed $6 cardinal for its 4th maturation vehicle.

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