Kleiner Perkins Has Officially Raised $932.3M for its Digital Growth Fund


Kleiner Perkins has raised $932.3 million out of a targeted $1 billion for its KPCB Digital Growth Fund, according to an SEC filing dated March 11.

The fact that the firm had increased the target for the fund from $750 million to $1 billion was first reported by Fortune magazine’s Term Sheet blog on February 16. In fact, Term Sheet reported that KP is raising in excess of a billion dollars.

The regulatory filing shows that the target for the fund is $1 billion and that $67.67 million remains to be raised. The document also shows that KP sold its first stake in the fund on Nov. 17.

I may be wrong, but I don’t believe the news about the regulatory filing has been previously reported. I came across it when doing some research about the firm following a report by Fortune blog Postcards that former eBay CEO Meg Whitman will be joining Kleiner Perkins as an advisor.

The regulatory filing does not list the names of any limited partners, but it shows that 158 investors have put money into the fund.

Curiously, the document lists only four “managing members” for the fund: Brook Byers (the “B” in KPCB), John Doerr (pictured), Ray Lane and Ted Schlein. It isn’t clear why none of the other 32 partners listed on Kleiner’s website aren’t named in the document, such as Mary Meeker, the famed Internet analyst the firm brought on as a partner last November.

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