Deals

Kleiner Perkins raises two new funds totaling $1.2B

Above: John Doerr of Kleiner Perkins Caufield & Byers.

Image Credit: Doc Searls/Flickr

That was fast.

Just one week after disclosing that it was raising $1.2 billion for two new funds, longstanding venture capital firm Kleiner Perkins Caufield & Byers has finished that work, Fortune’s Dan Primack reported today.

The first fund, totaling $450 million, is for early-stage deals. The remaining $750 million is for the firm’s new digital growth fund.

The funds were oversubscribed and have not been formally closed, Fortune reported.

Andreessen Horowitz, Khosla Ventures, and True Ventures, have also wrapped up new funds lately to back early-stage startups.

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