Kleiner Perkins, the U.S. venture capital firm, has secured $3.5 billion in new funding across two vehicles, marking a significant increase from its $2 billion raise less than two years ago and signaling a stronger commitment to AI-driven investments.
The firm allocated $1 billion to its 22nd early-stage fund and $2.5 billion to a separate growth-stage vehicle aimed at scaling later-stage companies. The expanded capital base follows a series of successful AI-focused bets, including investments in Together AI, Harvey, and OpenEvidence, alongside positions in Anthropic and SpaceX, both seen as potential IPO candidates.
Kleiner Perkins has also generated returns from recent exits, including Figma’s IPO and the acqui-hire of Windsurf by Google. The firm, now operating with five partners, has undergone leadership changes, with Ev Randle departing and Annie Case moving into an advisory role.
