US early-stage investment heavyweight Khosla Ventures has confirmed it is targeting $1bn for its fifth flagship fundraise.
The firm intends to wrap up fundraising for Khosla Ventures V within 12 months according to a filing with the US securities regulator.
AltAssets reported earlier this month that Khosla was eyeing $1bn for the new vehicle, with peHub saying it picked up the news from a trio of LPs.
The firm closed its last vehicle, Khosla Venture IV, on $1.05bn in 2011, with 50 per cent of it allocated to clean technology.
That followed its first institutional investor fund, pulled in $1bn of commitments in 2009. The firm’s first two vehicles were not open to outside investors, instead relying on the personal wealth of founder Vinod Khosla, pictured.
Vinod Khosla previously founded Sun Microsystems and was a general partner at fellow venture capital firm Kleiner Perkins Caufield & Byers.
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