Al Gore Joins Kleiner Perkins

Al Gore has joined Kleiner Perkins Caufield & Byers as a partner. The hire is part of a global collaboration between KP and London-based Generation Investment Management, to “find, fund and accelerate green business, technology and policy solutions with the greatest potential to help solve the current climate crisis.” KP will co-locate is European operations at Generation's London offices, with KP partner John Doerr joining Generation's advisory board. Gore is a Generation co-founder and chairman.

PRESS RELEASE
Kleiner Perkins Caufield & Byers (“KPCB”) and Generation Investment Management (“Generation”) today announced a global collaboration to find, fund and accelerate green business, technology and policy solutions with the greatest potential to help solve the current climate crisis. The partnership will provide funding and global business-building expertise to a range of businesses, both public and private, and to entrepreneurs. As a result of the collaboration, the chairman and co-founder of Generation Investment Management, former Vice President of the United States Al Gore, will join KPCB as a Partner. KPCB will co-locate their European operations at Generation's offices in London. John Doerr, Partner at KPCB, will join Generation's Advisory Board.

Mr. Gore said, “This alliance brings together world-class business talent to focus on solving the climate crisis. Together, we have a working understanding of this urgent, multi-dimensional challenge and are resolved to help business and government leaders accelerate the development of sustainable solutions.”

The KPCB and Generation alliance represents a landmark alignment of resources to effect global change to protect the environment. It combines the research expertise of both organizations with a track record of successful investments in public and private companies, from early stage to large capitalization business. It aligns the convening power of Mr. Gore, the KPCB Greentech Innovation Network and the Generation Advisory Board towards a common goal. In addition, KPCB's presence in Asia and the U.S., combined with Generation's presence in the U.S., Europe and Australia, will support global scale solutions.

“KPCB celebrates 35 years of fueling innovation this year,” said Mr. Doerr. “But today marks a turning point for climate entrepreneurs around the world. Generation and our new Partner Al Gore will help innovators and entrepreneurs accelerate their business, technology and policy solutions for the most critical problem of our time.”

KPCB will continue to invest in startup venture capital; Generation will continue to invest in global public equities. The two teams will collaborate on opportunities spanning sectors such as renewable energy technologies, building efficiency, cleaner fossil energy, sustainable agriculture and carbon markets.

Generation co-founder and Managing Partner David Blood said, “There is a significant gap between the capital needed and the capital currently deployed to create enduring solutions to the climate crisis. To address this financing gap will require the efforts of many players, including entrepreneurial ventures, multinational businesses, governments, multilaterals and investors. The collaboration between Generation and KPCB brings together unique capabilities and networks to identify opportunities across this spectrum. We are thrilled to work with such an excellent partner. Investing in scalable solutions now is critical for the future of the planet.”

Mr. Gore also announced that as part of the agreement between the two firms, 100 percent of his salary as a Partner at KPCB will be donated directly to the Alliance for Climate Protection — the non-partisan foundation he chairs that focuses on accelerating policy solutions to the climate crisis.