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

Trendingnow

1

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

2

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

3

China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation

1

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

2

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

3

China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation

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
  • Pinterest icon

Latest in

Palmer Luckey wearing a lime green shirt with his hands up gesturing
SuccessEducation
Anduril founder Palmer Luckey warns the U.S. university system is falling behind China’s: ‘It generates a lot of worker bees’
By Preston ForeJuly 8, 2026
42 minutes ago
Rilla CEO Sebastian Jimenez
Successreturn to office
This CEO pays $1.7 million a year so employees can live in one of America’s most expensive neighborhoods
By Emma BurleighJuly 8, 2026
45 minutes ago
Chinese companies are ditching Nvidia’s advanced accelerators for domestic AI suppliers
AsiaNvidia
Chinese companies are ditching Nvidia’s advanced accelerators for domestic AI suppliers
By Bloomberg and Gao YuanJuly 8, 2026
2 hours ago
Current price of gold as of July 8, 2026
Personal Financegold prices
Current price of gold as of July 8, 2026
By Danny BakstJuly 8, 2026
2 hours ago
The U.S. Securities and Exchange Commission headquarters in Washington, D.C.
BankingCFO Daily
Thousands wrote to the SEC about quarterly reporting. A detailed letter came from Exxon’s CFO
By Sheryl EstradaJuly 8, 2026
2 hours ago
Current price of Bitcoin for July 8, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for July 8, 2026
By Joseph HostetlerJuly 8, 2026
3 hours ago

Most Popular

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
Success
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
By Preston ForeJuly 6, 2026
2 days ago
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
AI
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
By Marco Quiroz-GutierrezJuly 5, 2026
3 days ago
China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation
Asia
China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation
By Nicholas GordonJuly 7, 2026
1 day ago
Current price of oil as of July 7, 2026
Personal Finance
Current price of oil as of July 7, 2026
By Joseph HostetlerJuly 7, 2026
1 day ago
Despite a $220 million net worth, Rafael Nadal says he won't retire because he hates waking up to no plans—so he's opened a chain of hotels instead
Success
Despite a $220 million net worth, Rafael Nadal says he won't retire because he hates waking up to no plans—so he's opened a chain of hotels instead
By Orianna Rosa RoyleJuly 7, 2026
1 day ago
Presidents aren't supposed to pick winners, former White House ethics lawyer says. Trump keeps choosing Dell
Politics
Presidents aren't supposed to pick winners, former White House ethics lawyer says. Trump keeps choosing Dell
By Mia OsmonbekovJuly 7, 2026
20 hours 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.