Tag Archives: Ray Lane
Kleiner Perkins Being Sued By Ellen Pao
Kleiner Perkins Caufield and Byers is one of the most prominent venture capital companies in Silicon Valley. The company is being sued by Ellen Pao, an investment partner at the company. The complaint has been filed on May 10th at the San Francisco Superior Court. Pao said that she has been sexually harassed by Ajit Nazre, a former KPCB partner that left the company late last year.
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VCs Remove CEO Of V-Vehicle
V-Vehicle Corporation, a company that manufactures electric cars based in San Diego has seen their CEO Frank Varasano get ousted and replaced by KPCB’s Ray Lane. V-Vehicle’s request for a loan from the Department of Energy was recently rejected.
The company is currently looking for a new CEO. V-Vehicle has also canceled their lease on a Louisiana automotive plant that they planned on refurbishing. V-Vehicle has about $85 million in funding. [SoCalTech]
Categories Frank Varasano, Ray Lane, V-Vehicle
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V-Vehicle Raises $62.25 Million From Google Ventures and Kleiner Perkins
V-Vehicle is an automotive startup company based in San Diego, California. The vehicle company has raised $62.25 million and plans to raise an additional $4 million. The companies involved in the $62.25 million are Google Ventures and Kleiner Perkins Caufield & Byers. V-Vehicle will be building cars in the northeastern region of Louisiana.
V-Vehicle raised a previous round from T. Boone Pickens and has former Mazda design chief Tom Matano on their staff. V-Vehicle recently procured a facility that was owned by Guide Corporation. And Louisiana Governor Bobby Jindal was at the announcement ceremony of the plant opening. Jindal offered V-Vehicle $67 million as part ofa startup incentive package. Local governments provided an additional $15 million. V-Vehicle is aiming to raise about $50 million between equity and loans.
David Drummond, Google’s SVP of Corporate Development and Chief Legal Officer is listed as one of the Board of Directors at V-Vehicle. Former Oracle executive and founding CEO of V-Vehicle Frank Varasano had invested $100 million of his own money into the company.
Kleiner Perkins partners John Doerr and Ray Lane also have board seats in V-Vehicle. James Davison, a trucking company leader is also listed as an investor.
In Louisiana, the company plans on developing a “green” car. Tesla should beware, they’re not the only ones in the electric car game.
[via Xconomy/alarm:clock]