Many VC corporations are struggling to attract new capital from their very own backers amid a tepid IPO surroundings.
However established, brand-name corporations are nonetheless capable of increase massive funds.
On Friday, Kleiner Perkins introduced that it closed on greater than $2 billion in fresh capital throughout two funds, a slight improve from the 52-year-old agency’s $1.8 billion previous fundraise in early 2022.
Different distinguished corporations that efficiently defied the VC fundraising droop this 12 months embrace Andreessen Horowitz, which secured $7.2 billion for a number of of its funds; Basic Catalyst, which is reportedly wrapping up a $6 billion fundraise; and Norwest, with its $3 billion capital haul.
Kleiner Perkins stated in a weblog publish that it’s going to proceed to put money into enterprise software program, client, healthcare, fintech and hardtech startups, because it has for its earlier fund. However what’s modified is the chance to make these industries extra environment friendly with the assistance of AI.
The agency has already backed just a few buzzy AI-driven startups, together with enterprise software search device Glean and Harvey, an AI assistant for legal professionals. Nonetheless, in comparison with different massive VC corporations, Kleiner Perkins’s investments in distinguished AI corporations stays modest.
Based in 1972, Kleiner Perkins was as soon as thought of to be one of the elite corporations in Silicon Valley. It was an early backer of corporations like Amazon, Compaq Laptop, Genetech, Netscape and Solar Microsystems. Whereas the agency misplaced a few of its prominence within the final tech growth, it nonetheless invested in a slew of eventual winners, together with Airbnb, Instacart, Slack and Robinhood.
