Kleiner Closes Fund XIII

Kleiner Perkins Caufield & Byers has closed its thirteenth traditional venture capital fund with $700 million in committed capital.

 

PRESS RELEASE

Kleiner Perkins Caufield & Byers (KPCB), the Silicon Valley venture capital firm, today announced the formation of its most recent fund, KPCB XIII. KPCB XIII plans to invest $700 million over roughly a three-year period, backing entrepreneurs and innovation in greentech, information technology and life sciences ventures.

 

Separately, the firm announced the opening of its $500 million Green Growth Fund (issued simultaneously, see: “Kleiner Perkins Caufield & Byers Launches Green Growth Fund”), which intends to help speed mass market adoption of solutions to the world's climate crisis. KPCB XIII will mainly back early-stage entrepreneurs, while the Green Growth Fund will support companies that have already entered their growth phase. The greentech coverage of KPCB XIII and the Green Growth Fund will extend the firms' existing collaboration with London-based Generation Investment Management. Through their alliance, the firms actively work together to find, fund and accelerate green solutions with the greatest potential to help solve the climate crisis.

 

“Disruptive innovation is essential to solving today's crucial challenges in energy, healthcare and communications, and we're seeing compelling ventures across greentech, life sciences and information technology, especially with the launch of our iFund,” said KPCB partner John Doerr. “For 35 years, we've viewed entrepreneurs as the catalysts for tremendous opportunities in society and business, and we look forward to continuing to work with them to bring their breakthroughs to market.”

 

KPCB XIII partners include KPCB XII partners Brook Byers, John Denniston, John Doerr, Juliet Flint, Bill Joy, Randy Komisar, Joe Lacob, Ray Lane, Aileen Lee, Dana Mead, Jr., Matt Murphy, Ajit Nazre, PhD, Ellen Pao, Ted Schlein, Beth Seidenberg, M.D., Risa Stack, PhD, and Trae Vassallo. New partners added since the KPCB XII fund closed include former Vice President of the United States and Nobel Laureate Al Gore, Electronic Arts co-founder Bing Gordon, Chi-Hua Chien, Amol Deshpande, Wen Hsieh and Jordan Ormat.

 

“Innovation continues to thrive, and we are privileged to help build the outstanding companies at the forefront of change,” said Brook Byers. “The entrepreneurs we work with are driving the dramatic improvements in healthcare and life sciences that we so critically need worldwide.”

 

Ray Lane added, “We have come to a turning point and now, more than ever before, the world is ready and willing to tackle our energy and environmental problems, as individuals, corporations and governments. The entrepreneurs we support are the starting point to address these challenges, and we're proud to help them transform their innovations into marketable solutions for our global climate crisis.”

 

About Kleiner Perkins Caufield & Byers

 

Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions.

 

Burson-Marsteller for KPCB Jennifer Graham, 415-591-4016 Jennifer.graham@bm.com

 

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