Venture capital firm Kleiner Perkins raises $ 1.8 billion through two new funds


Jan. 11 (Reuters) – Venture capital firm Kleiner Perkins said on Tuesday it had raised $ 1.8 billion through two new funds, with the aim of expanding in sectors such as fintech and consumer goods after a record year for venture capital financing arrangements.

The company has raised $ 800 million and $ 1 billion for funds named KP20 and Select2, to invest in early stage startups across all industries. The company is also looking to leverage more cryptocurrency investments.

Over the past five decades, the venture capital giant has invested in some of the biggest tech companies, including Alphabet Inc (GOOGL.O), Inc, Twitter Inc (TWTR.N) and Uber Technologies Inc (UBER .NOT)

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The current consumer transition to digitalization will continue, leading to an increase in demand for tools offered by technology companies, said Mamoon Hamid, partner at Kleiner Perkins.

Kleiner Perkins’ fundraiser follows that of Silicon Valley-based venture capital giant Andreessen Horowitz, which raised $ 9 billion through three new funds last week. Read more

A total of 38,644 venture capital deals were completed worldwide last year, for a total volume of $ 671 billion, higher than any other year on record, according to PitchBook data.

Kleiner Perkins said he has raised 20 early stage venture capital funds since its inception in 1972.

A series of portfolio companies listed on the New York Stock Exchange last year, including the language learning app Duolingo Inc (DUOL.O) and the online education platform Coursera Inc (COUR.N) , have reached a valuation of over $ 5 billion each.

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Reporting by Sohini Podder and Manya Saini in Bengaluru; Editing by Amy Caren Daniel

Our Standards: Thomson Reuters Trust Principles.


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