PRINT THIS PAGE KPCB closes two funds07/05/2008. Source: AltAssets. 
Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers has closed its latest early stage fund, KPCB XIII Fund, on $700m. The firm has also announced the closing of its growth-stage investment fund, Green Growth Fund, on $500m, which will invest in companies developing solutions related to climate change. KPCB XIII will target investment in greentech, IT and life sciences start-ups.
As the name suggests, the Green Growth Fund will support companies that have already entered their growth phase.
The greentech coverage of KPCB XIII and the Green Growth Fund will extend the firm's existing collaboration with London-based Generation Investment Management, KPCB said in a statement.
KPCB partner John Doerr, said, 'Disruptive innovation is essential to solving today's crucial challenges in energy, healthcare and communications, and we are seeing compelling ventures across greentech, life sciences and information technology, especially with the launch of our iFund.'
KPCB managing partner Ray Lane added, 'We have come to a turning point and now, more than ever before, the world is ready and willing to tackle our energy and environmental problems, as individuals, corporations and governments. The entrepreneurs we support are the starting point to address these challenges, and we are proud to help them transform their innovations into marketable solutions for our global climate crisis.'
Copyright © 2008 AltAssets
|
