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Kleiner Perkins partner forms new firm

Chi-Hua Chien and Eric KimChi-Hua Chien and Eric Kim
Chi-Hua Chien and Eric KimDan Primack

Venture capitalists Chi-Hua Chien and Eric Kim have formed a new firm called Goodwater Capital, with a focus on early-stage consumer tech companies. According to an SEC filing, the pair is seeking to raise upwards of $120 million for Goodwater’s debut fund.

Chien has been a partner with Kleiner Perkins Caufield & Byers since 2008, where his deals have included Path, Klout, Zaarly, Chill, Level Money and Zumper. Last fall, Chien was left out of the firm’s senior management following a restructuring. Fortune later reported that he was thinking about launching his own firm.

Kim had been with Maverick Capital since 2007, working on such deals as KakaoTalk, Coupang, Upsight and SeeChange.

Chien and Kim originally met at Stanford University, where they both received MBAs.

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