Kleiner Perkins Raises $3.5B to Bet Big on AI Startups
The legendary VC firm closes two new funds totaling $3.5B, pushing its assets under management past $21 billion.
Kleiner Perkins just locked down $3.5 billion in fresh capital across two new funds. The storied venture firm is splitting the haul: $1 billion goes to its 22nd early-stage fund, while a hefty $2.5 billion lands in a growth-stage vehicle.
The fundraise pushes Kleiner's total assets under management north of $21 billion. The half-century-old firm is channeling the capital toward artificial intelligence startups, doubling down on the sector that's dominating venture deal flow.
The growth fund's $2.5 billion size signals Kleiner isn't just interested in writing early checks — it wants to ride AI winners through their scaling phase too. For a firm that built its reputation backing companies like Google and Amazon in earlier eras, this is Kleiner planting its flag firmly in the AI gold rush.