• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers

Kleiner Perkins raises $525 million for new fund

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
May 18, 2012, 2:00 AM ET
Add Fortune on Google for similar content.

FORTUNE — Kleiner Perkins Caufield & Byers has closed its fifteenth early-stage venture capital fund with $525 million in capital commitments.

In many ways, this is just more of the same for Kleiner Perkins: Investing in young startups that it hopes will become the next Google (GOOG) or Genentech. But there also are some subtle differences, as reflected by the group of ten investment professionals listed as “managing members.”

As previously reported by Fortune, Brook Byers, Ray Lane and Bill Joy have scaled back their activities (although they may continue to do deals). The new fund’s partners are: Mike Abbott, Chi-Hua Chien, Amol Deshpande, John Doerr, Bing Gordon, Wen Hsieh, Randy Komisar, Matt Murphy, Beth Seidenberg, and Ted Schlein.

Of this decuplet, only one member (Seidenberg) is focused on life sciences investing. And just two (Deshpande and Hsieh) are focused on greentech. Its reflective of the firm’s plan to invest the majority of KBCP XV into digital companies, whereas its prior early-stage fund — a $650 million vehicle closed early last year — was designed to invest around half of its money into digital, with teh remainder split between life sciences and greentech.

“It’s not about us not believing in life sciences or greentech,” says Ted Schlein, who leads the firm’s digital practice. “It’s just a reflection on where we feel the best opportunities are at this particular time.”

He adds that the firm continues to invest out of a $500 million-plus green growth fund. It also has a $1 billion digital growth fund (led by Mary Meeker), and a small side fund for social technology investments.

Kleiner Perkins already has begun making commitments out of KBCP XV, which was sold to limited partners with the same premium terms as its predecessor.

And, given today’s big news, it’s worth noting that Kleiner Perkins did make an investment in Facebook (FB), but it was a relatively miniscule $38 million deal last year at a $52 billion valuation (so small, in fact, that Kleiner Perkins isn’t mentioned in Facebook’s IPO documents). The transaction would produce around a 2x return at today’s valuation, but was viewed by many as a “poster transaction” — or a deal designed primarily to add a popular name to the firm’s portfolio.

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com

About the Author
By Dan Primack
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Asia drives 60% of global growth, but the region’s CEOs can’t escape geopolitics. Here’s how they can stay competitive
Commentarygeopolitics
Asia drives 60% of global growth, but the region’s CEOs can’t escape geopolitics. Here’s how they can stay competitive
By Yasushi SasakiJuly 30, 2026
2 hours ago
nyse
InvestingMarkets
Microsoft’s $480 billion rally fuels a debate: financial nihilism or the true AI moat, finally coming into view?
By Nick LichtenbergJuly 30, 2026
2 hours ago
Man with glasses and a black collared shirt
Big TechMicrosoft
Microsoft’s stock has biggest one-day gain since 2008, adding $480 billion in market value as cloud business booms
By Amanda GerutJuly 30, 2026
3 hours ago
Dow COO Karen Carter wearing a white lab coat and sitting while smiling
NewslettersMPW Daily
Dow’s brand-new CEO is blessed to be stressed
By Emma HinchliffeJuly 30, 2026
4 hours ago
Visitor look at their phone next to an Open AI's logo during the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. The world's biggest mobile phone fair throws open its doors in Barcelona with the sector looking to artificial intelligence to try and reverse declining sales. (Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)
Startups & VentureOpenAI
‘I’m just stuck’: Meet the former OpenAI researcher sitting on $700K of equity that he says is overvalued
By Eva RoytburgJuly 30, 2026
4 hours ago
OpenAI CEO Sam Altman walking.
AIEye on AI
As the AI industry calls for help to “pace” AI development. Has OpenAI already hit pause on some development?
By Beatrice NolanJuly 30, 2026
6 hours ago

Most Popular

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
1 day ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
1 day ago
Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
Real Estate
Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
By Catherina GioinoJuly 30, 2026
16 hours ago
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
Retail
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
By Nick LichtenbergJuly 30, 2026
12 hours ago
Current price of oil as of July 30, 2026
Personal Finance
Current price of oil as of July 30, 2026
By Joseph HostetlerJuly 30, 2026
12 hours ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.