Silicon Valley venture heavyweight Kleiner Perkins Caufield & Byers has hit its $525m target for its 16th fund in what it described as an oversubscribed fundraise.
The total is below the $650m the firm raised for its last fund in 2010, but could increase to $575m before the final close.
KPCB invests across seed, early and growth companies through investments between $100,000 and $75m.
The latest fund will focus on early-stage digital consumer and enterprise, green tech and life sciences companies.
The firm said, “Portfolio companies in KPCB 15 will benefit from the firm’s holistic approach to company building that we pioneered more than a decade ago.
“We will identify promising early-stage companies in our areas of focus and bring value-added resources in key areas to help early-stage companies grow and succeed.
“This includes applying our considerable industry, operational and financial expertise and network of relationships to help entrepreneurs build lasting enterprises.”
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