Venture capital firm Kleiner Perkins Caufield & Byers has closed two funds with commitments of $1.2bn.
Early-stage fund Kleiner Perkins Caufield & Byers XVI has held a final close on $450m and later-stage-focused vehicle KPCB Digital Growth Fund II has been closed on $750m, said Dow Jones, citing a person familiar with the situation.
Both funds were oversubscribed, said the source.
Last month AltAssets reported that the Menlo Park-based firm was seeking $1.2bn for the two funds.
Kleiner Perkins’ fifteenth flagship fund was closed on $525m in 2012, two years after raising $650m for its previous fund. The firm’s main funds target seed, early and growth companies, making investments of between $100,000 and $75m.
The firm’s first digital fund secured commitments of $1bn and was closed in 2010.
Copyright © 2014 AltAssets