The Sand Hill Road stalwart last was in the market two years ago, when it secured $525 million for KPCB XV. It also continues to manage a paid of growth equity funds, focused on digital and ‘green’ investments, respectively.

No final decisions have been made yet on timing or target capitalization.

It’s been a strange few months for Kleiner Perkins, whose big investment wins like Nest Labs (sold to Google for $3.2 billion), Mandiant (sold to FireEye for $1 billion) and Twitter (TWTR) have been occasionally overshadowed by internal management changes and the controversial comments of firm co-founder Tom Perkins. Plus, the firm continues to operate under the cloud of ex-partner Ellen Pao’s gender discrimination suit, which now is scheduled for trial in February 2015.

“I’m betting that they’ll looks to raise a bit less than they did last time, and not really have any troubles,” says an existing Kleiner Perkins investor. “The returns have been improving, and ultimately that’s all that really matters when fundraising.”

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