With $3.5B in fresh capital, Kleiner Perkins is going all in on AI
The legendary VC firm secured $3.5 billion across two funds, a 75% increase from its last raise, to fuel AI investments.
Kleiner Perkins, the legendary Silicon Valley venture firm behind early bets on Amazon and Google, announced a massive $3.5 billion capital raise across two new funds. The firm secured $1 billion for its 22nd early-stage venture fund and a separate $2.5 billion vehicle for late-stage growth investments. This represents a significant 75% increase from the firm's $2 billion fundraise less than two years ago, underscoring a aggressive expansion of its investment firepower specifically aimed at the artificial intelligence sector.
The capital haul comes as Kleiner Perkins has successfully positioned itself in several fast-growing AI startups. Its portfolio includes foundational AI companies like Anthropic and infrastructure players such as Together AI, alongside applied AI firms like legal-tech startup Harvey and health-tech company OpenEvidence. The firm is also banking on near-term exits, with portfolio companies Anthropic and SpaceX expected to IPO this year. This fundraise places Kleiner Perkins among a wave of VC mega-raises, following Thrive Capital's $10 billion and Founders Fund's $6 billion funds, signaling sustained heavyweight institutional belief in the AI investment thesis despite a broader slowdown in tech exits.
- Raised $3.5B total: $1B for early-stage (Fund 22) and $2.5B for late-stage growth investments.
- Represents a 75% increase from its $2B fundraise in 2022, highlighting accelerated commitment.
- Portfolio targets AI leaders: Early investor in Anthropic, Together AI, Harvey, and OpenEvidence, with IPOs expected soon.
Why It Matters
A major signal of sustained, large-scale VC confidence in AI, providing crucial growth capital for the next wave of startups.