Kleiner Perkins announces $2 billion in new capital, showing that established companies can still raise large sums

Many VC firms are struggling to draw new capital from their sponsors in the uncertain IPO market.

However, established, branded companies are still capable of raise large funds.

On Friday, Kleiner Perkins announced it was closed for over $2 billion in new capital in two funds, which is a slight increase in comparison with the 52-year-old company $1.8 billion previously collection in early 2022

Other high-profile firms that managed to navigate the VC fundraising crisis this yr include Andreessen Horowitz, which raised $7.2 billion for several of its funds: General Catalyst, which is reportedly completing a $6 billion fundraising round, and Norwest, which has raised $3 billion in capital.

Kleiner Perkins said in a blog post that it would proceed to take a position in enterprise, consumer, healthcare, fintech and hardtech software startups, because it did with its previous fund. However, what has modified is the power to extend the efficiency of those industries using artificial intelligence.

The company has already backed several thriving AI-based startups, including business app search tool Glean and Harvey, an AI assistant for lawyers. However, in comparison with other large VC firms, Kleiner Perkins’ investments in leading artificial intelligence companies remain modest.

Founded in 1972, Kleiner Perkins was once considered one of the vital elite companies in Silicon Valley. He was an early supporter of companies reminiscent of Amazon, Compaq Computer, Genetech, Netscape and Sun Microsystems. While the corporate lost a few of its ground through the last tech boom, it continued to take a position in most of the eventual winners, including Airbnb, Instacart, Slack and Robinhood.