Kleiner Perkins Raises $3.5 Billion to Accelerate AI Investments

Kleiner Perkins has announced the successful raising of $3.5 billion in new capital, signaling a strong commitment to artificial intelligence ventures. The veteran venture capital firm secured $1 billion for its 22nd early-stage fund and an additional $2.5 billion dedicated to late-stage growth investments. Founded in 1972, Kleiner Perkins is expanding its resources significantly compared to its previous $2 billion fundraise less than two years ago.

The firm has strategically invested in several fast-growing AI startups, including Together AI, Harvey, and OpenEvidence. It also holds stakes in high-profile companies such as Anthropic and SpaceX, both expected to go public this year. Despite a challenging market with limited exits, Kleiner Perkins benefited from the 2025 IPO of Figma, a design software company in which it led a $25 million Series B round in 2018. Additionally, the firm gained returns from Google's acqui-hire of its portfolio company, Windsurf, last summer.

Operating with a lean team of five partners, Kleiner Perkins has recently experienced leadership changes. Partner Ev Randle left for Benchmark, while Annie Case moved into an advisory role, according to a company spokesperson. This fundraising success aligns Kleiner Perkins with other venture capital firms that have recently closed large funding rounds, such as Thrive Capital’s $10 billion raise and Founders Fund’s $6 billion growth fund. These developments reflect a broader surge in venture capital interest in AI and growth-stage technology companies.

Read more: techcrunch.com