Many venture capital firms are struggling to attract new capital from their backers amid a tepid IPO environment.
But companies with established brands can still raise significant funds.
Kleiner Perkins announced on Friday that it has closed more than… $2 billion in new capital Across two funds, slightly more than the 52-year-old company. $1.8 billion previously Fundraising in early 2022.
Another notable firm that has successfully defied the slump in venture capital fundraising this year is Andreessen Horowitz, which secured funding $7.2 billion For many of its money; General Catalyst, which is reportedly wrapping up a $6 billion fundraising campaign; Norwest has a capital of $3 billion.
Kleiner Perkins said in a blog post that it will continue to invest in enterprise and consumer software, healthcare, fintech and hard technology startups, as it did with its previous fund. But what has changed is the opportunity to make these industries more efficient with the help of artificial intelligence.
The firm has already backed a handful of AI startups, including business application search tool Glean and Harvey, an AI assistant for lawyers. However, compared to other large venture capital firms, Kleiner Perkins’ investments in prominent AI companies remain modest.
Founded in 1972, Kleiner Perkins was once considered one of Silicon Valley’s most elite firms. It was an early backer of companies like Amazon, Compaq Computer, Genetech, Netscape, and Sun Microsystems. While the firm has lost some of its relevance in the recent tech boom, it still invests in a slew of eventual winners, including Airbnb, Instacart, Slack, and Robinhood.