Venture capital firm Kleiner Perkins raises .8 bln via two new funds

Venture capital firm Kleiner Perkins raises $1.8 bln via two new funds

Jan 11 (Reuters) – Venture funds business Kleiner Perkins said on Tuesday it had lifted $1.8 billion via two new resources, becoming a member of a clutch of providers boosting capital amid soaring valuations of tech startups.

A total of 38,644 undertaking funds discounts were being manufactured globally final yr, totaling $671 billion in volumes, better than any other 12 months on history, according to data from PitchBook.

The firm raised $800 million and $1 billion for funds named KP20 and Decide on2, to spend in early phase startups across sectors these kinds of as client, fintech and healthcare. The company is also looking to faucet into extra cryptocurrency investments.

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Its fundraise follows that of Silicon Valley-based venture cash huge Andreessen Horowitz, which lifted a large $9 billion by way of 3 new cash very last 7 days. read extra

Kleiner Perkins explained it experienced elevated 20 early-stage venture resources considering that it was founded in 1972. In excess of the past five decades, it has invested in some of the most noteworthy engineering organizations, together with Alphabet Inc (GOOGL.O), Inc , Twitter Inc (TWTR.N) and Uber Technologies Inc (UBER.N).

A string of its portfolio firms stated on community exchanges in New York very last 12 months, which includes language learning app Duolingo Inc (DUOL.O) and on the internet schooling system Coursera Inc (COUR.N), fetched valuations of a lot more than $5 billion every.

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Reporting by Sohini Podder and Manya Saini in Bengaluru Enhancing by Amy Caren Daniel

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