VC firm Kleiner Perkins announced it has raised over $2 billion for two new funds. This includes the firm’s $825 million twenty-first venture fund KP21 and $1.2 billion third select fund KP Select III. KP21 will invest in early-stage companies and KP Select III will back high-inflection investments.
Since Kleiner Perkins’ last funding raising in 2022, the technology industry evolved at a rapid pace. And Kleiner Perkins believes that society is on the brink of “remarkable technology shifts that will transform industries, amplify the power of human ingenuity, and generate significant economic growth.”
AI also emerged as a fundamental technology that is driving this transformation and it is going to impact every aspect of our lives, including personal experiences, healthcare, productivity, and how companies are built.
Through these new funds, the Kleiner Perkins team will continue focusing on enterprise software, consumer, healthcare, fintech, and hard tech. AI will accelerate each of these areas so humans can focus on what they do best—higher-level reasoning and decision-making.
Plus, human creativity will be complemented by machine intelligence and pave a path for novel consumer experiences. And industries that have been slower to adopt software and that requires human labor for low-level work, such as healthcare, legal, finance will see rapid transformation. Plus, new experiences and the demands of computation will drive up opportunities in hardware and physical infrastructure.
Since 2022, Kleiner Perkins also expanded its team to better serve entrepreneurs with the additions of Leigh Marie Braswell (a partner focused on AI) and Everett Randle (a partner leading growth efforts).
