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Kleiner Perkins

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Last Updated: 20 December 2020

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Kleiner Perkins

FormerlyKleiner Perkins Caufield & Byers (KPCB)
Founded1972 ( 1972 ) in California
FoundersEugene Kleiner , Thomas Perkins , Frank J. Caufield , Brook Byers
HeadquartersMenlo Park, California , United States
IndustryVenture capital
ProductsInvestments
Twitter@kleinerperkins
TypePrivate
Websitewww .kleinerperkins .com

Kleiner Perkins, one of the most storied franchises in venture capital, has already invested much of the 600 million it raised last year and is now going back out to market to raise its 19 fund, according to multiple sources. The firm, which underwent significant restructuring over the last two years, go on investment tear over the course of 2019 as new partners go out to build up new portfolio for the firm almost whole cloth. A Spokesperson for KPCB declined to comment on firms ' fundraising plans, citing SEC regulations. The quick turnaround for KPCB is indicative of a broader industry trend, which has investors pulling trigger on term sheets for new startups in days rather than weeks. Speaking onstage at Upfront Summit, event at Rise Bowl in Pasadena, Calif. Organize by Los Angeles-base venture firm Upfront Ventures as a showcase for technology and investment talent in Southern California, venture investor Josh Kopelman spoke about the heightened pace of dealmaking at his own firm. The founder of First Round Capital says that the average time from first contact with a startup to drawing up term sheet has collapsed from 90 days in 2004 to nine days today. This could also be due to changes in the competitive landscape and there may be changes to First Round Capital itself, said one investor. It may have been once upon a time that they were looking at really early raw stuff But, today, First Round is not really in First Round anymore. Companies are raising some angel money or Y Combinator money. At KPCB, once-troubled firm has been buoyed by recent exits in companies like Beyond Meat, deal spearheaded by firms former partners Amol Deshpande and Slack. And its new partners are clearly angling to make names for themselves. KP used to be a small team doing hands-on company building. Were moving away from being this institution with multiple products and really just focusing on early-stage venture capital, Kleiner Perkins partner Ilya Fushman said when the firm announced its last fund. We go out to market to LPs. We get a lot of interest. We were significantly oversubscribed, Fushman said of firms raise at the time. In some ways, it likely the kind of rejuvenation that John Doerr was hoping for when he approached Social + Capitals Chamath Palihapitiya about acquiring that upstart firm back in 2015. At time, as Fortune report, Palihapitiya and other Social + Capital Partners, Ted Maidenberg and Mamoon Hamid, would have become partners in venture firm under terms of the proposed deal. Instead, Social + Capital walked away, firm eventually imploded and Hamid joined Kleiner Perkins two years later. The new Kleiner Perkins is a much more streamlined operation. Go are sidecar and thematic funds that were hallmarks of earlier strategies, and Go too are superstars brought in by Mary Meeker to manage Kleiner Perkins growth equity investments.

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History

Kleiner Perkinsthe venture firm once celebrated for early stakes in Amazon, Google and Genentechhas, a long way to go in its quest to claw its way back to the top of Silicon Valley investors. But recent, previously unreported data on performance of its funds from past nine years show there are also some bright spots for the firm. Firms Fund XIV, 650 million pot of money raised in 2010, had a net internal rate of returnwhich shows how much the fund returns to investors on average annually, after firms ' fees are deductedof 30. 6 % through September 30 of this year, likely placing it in the top tier of venture funds for that year for performance. The numbers, which were obtained by information from person close to Kleiner Perkins, also shed new light on the strong performance of firms growth funds, which make late-stage investments in companies like Peloton, Slack and Pinterest. Unfortunately for Kleiner, credit for the success of growth funds goes mainly to the investing team led by former tech analyst Mary Meeker, most of whom decamped from Kleiner last year to form an independent firm called Bond. Meanwhile, Kleiner, which has returned to its roots by backing early stage tech companies, continues to see subpar returns for three other funds that focus on those types of startup investments, despite improvements over the past year.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Investments

In March 2008, Kleiner Perkins announced iFund, 100 million venture capital investment initiative that funds concepts related to the iPhone, and doubled that investment a year later. It was reported in April 2008 that Kleiner Perkins was raising funds for a 500 million growth-stage clean-technology fund. In October 2010, firm launched a 250 million fund called sFund to focus on social startups, with co-investors such as Facebook, Zynga and Amazon. Com. In early 2016, firm raised 1. 4 billion in KP XVII and DGF III. The firm has been an early investor in more than 900 technology and life sciences firms since its founding, including Amazon. Com, America Online, Beyond Meat, Citrix, Compaq, Electronic Arts, Genentech, Google, Intuit, Lotus Development, Netscape, Shyp, Nest, Sun Microsystems, and Twitter. Some current investments include DJI, Handshake, Coursera, Shape Security, Farmers Business Network, IronNet Cybersecurity, Desktop Metal, Gusto, Plaid, Rippling, Robinhood, Slack, UiPath, Netlify, Loom, viz. Ai, and Looker. Very recent investments include Modern Health, Pillar, Future and STORD. Kleiner Perkins paid 5 million in 1994 for around 25 % of Netscape and profit from Netscape's IPO. Its investment of 8 million in Cerent was worth around 2 billion [Citation need] When the optical equipment maker was sold to Cisco Systems for 6. 9 billion in August 1999. In 1999, Kleiner Perkins paid 12 million for a stake in Google. As of 2019, market cap of Google's parent company was estimated at around 831 billion. As initial investors in Amazon. Com Kleiner Perkins score returns in excess of 1 billion [Citation need] On 8 million investment.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Sources

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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