Mary Meeker
Mary Meeker has $750 million more for digital growth deals.

Exclusive: Kleiner Perkins raises $1.2 billion

Jul 02, 2014

Venerable venture capital firm Kleiner Perkins Caufield & Byers has raised $1.2 billion for a pair of new funds, Fortune has learned from LP sources.

The first $450 million is for KPCB's sixteenth flagship early-stage investment  fund (its last one was $525 million), while the other $750 million is for its second digital growth fund (the first one was $1 billion). Fortune previously reported on the fundraising plans back in April.

KPCB has not yet held a formal close for the vehicles, both of which were oversubscribed. Expect a public announcement once paperwork is wrapped up within the next couple of weeks.

These are KPCB's first fundraising efforts since reorganizing senior management last fall, particularly when it comes to early-stage investing activities.

A firm spokeswoman declined to comment.

Recent Kleiner Perkins investments include rounds for MCube (MEMS motion sensors), Proterra (electric buses), Puppet Labs (IT automation software) and Uber (on-demand ride service).

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