Many VC firms are struggling to raise new capital from their very own investors given the weak IPO environment.
However, established, brand-name companies are still capable of raise large amounts of funding.
On Friday, Kleiner Perkins announced that it had closed a transaction for greater than $2 billion in fresh capital in two funds, which is a slight increase in comparison with the 52-year-old company Previously $1.8 billion collection at the starting of 2022
Other notable firms that successfully navigated the decline in VC fundraising this yr include Andreessen Horowitz, which secured $7.2 billion in the case of several of its funds, General Catalyst, which is reportedly completing a $6 billion fundraising round, and Norwest with $3 billion in capital.
Kleiner Perkins said in a blog post that it is going to proceed to speculate in enterprise software, consumer software, healthcare, fintech and hardtech startups, because it did with the previous fund. But what has modified is the ability to make these industries more efficient with AI.
The firm has backed several high-flying AI startups, including business app search engine Glean and Harvey, an AI assistant for lawyers. But compared with other large VC firms, Kleiner Perkins’ investments in leading AI companies remain modest.
Founded in 1972, Kleiner Perkins was once considered one of the most elite companies in Silicon Valley. It was an early supporter of companies akin to Amazon, Compaq Computer, Genetech, Netscape and Sun Microsystems. While the company lost some of its popularity in the recent tech boom, it continued to speculate in a variety of subsequent winners, including Airbnb, Instacart, Slack and Robinhood.