Venture capital firm Kleiner Perkins Caufield & Byers announced the launch of a new $525 million fund, known as the KPCB 15.
Vaunted Silicon Valley venture
capital firm Kleiner
Perkins Caufield & Byers (KPCB) announced the closing of a new
$525 million fund known as Kleiner Perkins Caufield & Byers XV, LLC (KPCB
15).
The new venture capital fund focuses
on investments in early-stage digital consumer and enterprise, green tech and
life sciences companies.
The fund will be led by 10 managing
members, including Mike Abbott, Chi-Hua Chien, Amol Deshpande, John Doerr, Bing
Gordon, Wen Hsieh, Randy Komisar, Matt Murphy, Beth Seidenberg and Ted Schlein.
Portfolio companies in KPCB 15 will
benefit from the firms holistic approach to company building that we pioneered
more than a decade ago, said Ted Schlein, partner at KPCB, in a statement. We
will identify promising early-stage companies in our areas of focus and bring
value-added resources in key areas to help early-stage companies grow and
succeed. This includes applying our considerable industry, operational and
financial expertise and network of relationships to help entrepreneurs build
lasting enterprises.
Since its founding in 1972, Kleiner
Perkins Caufield & Byers has backed entrepreneurs in more than 500 ventures
including AOL, Amazon.com, Citrix, Compaq, Electronic Arts, Genentech, Genomic
Health, Google, Intuit, Juniper Networks, Netscape, Sun, Symantec, Verisign,
webMD and Zynga.
KPCBs recent early-stage
investments include Zynga, RPX, Flipboard, One Kings Lane, Path, Puppet Labs,
Nebula, Nest, Aquion Energy, Auxogyn and Foundation Medicine, in addition to
many others across its focus areas of digital, green tech and life sciences.
While KPCB has invested in the digital enterprise space for decades, a further
emphasis will be made in KPCB 15.
In a press release on the new fund,
KPCB said it continues to actively invest from its existing funds across both
early and growth-stage companies. These include KPCBs $1 billion Digital
Growth Fund (DGF) dedicated to later-stage growth companies; iFund, a $200
million investment initiative focused on the revolutionary mobile Internet
device opportunity; sFund, the $250 million initiative focused on companies and
services that will reinvent the Web through a social experience; and KPCBs $1
billion Green Growth Fund (GGF).
By providing portfolio companies
support in recruitment and talent management, building strategic relationships,
as well as expertise in operations, marketing and communications, KPCB furthers
the growth and success of its portfolio companies. Portfolio companies will
also benefit from recently added key hires to the partnership that bring deep
expertise in mobile, social and cloud, including Mike Abbott, Bing Gordon and
Mary Meeker, KPCB said.
KPCB portfolio companies employ more
than 350,000 people worldwide. More than 150 of the firms portfolio companies
have gone public, and many other KPCB ventures have achieved success through
mergers and acquisitions. KPCB focuses its global investments in three practice
areasdigital, green tech and life sciencesand provides entrepreneurs with
company-building expertise out of its offices in Silicon Valley, Beijing and
Shanghai.
Darryl K. Taft covers the development tools and developer-related issues beat from his office in Baltimore. He has more than 10 years of experience in the business and is always looking for the next scoop. Taft is a member of the Association for Computing Machinery (ACM) and was named 'one of the most active middleware reporters in the world' by The Middleware Co. He also has his own card in the 'Who's Who in Enterprise Java' deck.
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