Kleiner Perkins, the well-known Silicon Valley venture capital firm is raising an additional $1.25 billion to invest in companies, according to regulatory filings.
It comes at a time when Kleiner Perkins has reportedly been asking both existing and new investors to participate in its funds. Kleiner is raising the money to add to four of its existing funds, presumably to give it enough gunpowder to support investments it has already made as the economy enters what many assume to be a prolonged downturn.
The firm, which was an early backer of Google, Amazon and many other hits, plans to double its Green Growth Fund to $1 billion, according to the filings at the Securities and Exchange Commission. The filing was first reported by PEHub.
The filings say Kleiner is also raising an additional $250 million for its latest thirteenth main fund, which would bring it to a total of $950 million. Finally, Kleiner is also raising additional funds for its earlier twelfth and eleventh funds. Those funds are targeted at $350 million and $150 million respectively.
So far, Kleiner has raised $690.5 million across those four funds toward its $1.25 billion target, the filings show.
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