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Kleiner Perkins Nets $700M For Fund XIX

Kleiner, Perkins, Caufield & Byers closed its $700 million new fund, the firm announced Wednesday.

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KP19, the 19th fund for the firm, will focus on early-stage investments in consumer, enterprise, financial technology, health care and hartech companies, according to a statement from Kleiner Perkins.

KPCB, which has backed companies like Amazon and Google, said it would go back to focusing on early-stage investments when it announced the closing of its last fund last year.

About 35 percent of its KP18 investments were seed series, 53 percent were Series A rounds and 12 percent were Series B. Enterprise startups made up 43 percent of KP18’s investments, with the firm investing in 15 enterprise companies. Deep tech took second place with 24 percent of KP18’s investments, or eight companies.

KP19 will be “more of the same,” according to the firm.

“It’s the same team, with the same strategy, investing in the same sectors at the earliest stages,” KPCB said in a statement.

Additionally, Annie Case, Monica Desai Weiss and Josh Coyne were promoted to principals at the firm. Case will focus on consumer and health care, Weiss will lead investments in fintech and consumer, and Coyne will focus on enterprise and fintech.

Ilya Fushman, Mamoon Hamid and Wen Hsieh are the general partners listed on the regulatory filing for KP19. Ted Schlein, who was listed as a GP on KP18, closed last year, is not listed as a general partner on this latest fund.

Illustration: Li-Anne Dias

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