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Kleiner Perkins said to score biggest fundraise yet with $750m growth vehicle close

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Venture capital giant Kleiner Perkins has reportedly raised a $750m growth-stage fund to seal its biggest fundraise yet.

The news, which was reported by Bloomberg, comes a month after Kleiner’s former growth investment senior exec Mary Meeker collected $2bn for her second Bond Capital fund.

Meeker left Kleiner to co-found Bond three years ago, taking with her the digital growth team including investment partners Mood Rowghani and Noah Knauf, as well as HR professional Juliet De Baubigny.

Kleiner Perkins’ new fund will make investments in mid-stage startups, Bloomberg said, through a combination of new deals and re-ups in existing portfolio businesses through to about the Series D stage.

The firm raised its previously biggest fund to date last year, a $700m early-stage vehicle called KP 19, which focuses on deals from seed stage to Series B.

Bloomberg cited Kleiner partner Ilya Fushman sa saying that “strong returns for venture capital were part of what motivated the creation of the fund”.

He said there have been “really monster outcomes in the tens of billions for companies going public”.

The fund will be investing across enterprise, consumer, hard tech, fintech and health care. Robotics, artificial intelligence and automation are all potential investment areas, the report added.

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/kleiner-perkins-said-to-score-biggest-fundraise-yet-with-750m-growth-vehicle-close.html

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