Chien is in the very early stages of talking to both prospective LPs and his Kleiner Perkins colleagues, for what likely would be a small seed and early-stage fund focused on consumer technology companies.

Last month we reported on a major management shake-up over at Kleiner Perkins, which chose to narrow its early-stage investment committee to just five managing directors. Among those not on that list was Chien, who joined the firm in 2008 from Accel Partners. His investments have included Klout, Inspirato, Level Money, Path and Zaarly.

Chien declined to comment on his future plans.

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