With $3.5B in fresh capital, Kleiner Perkins is going all in on AI
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In Brief Posted: 5:47 PM PDT · March 24, 2026 Image Credits:Handout / Handout / Getty Images Marina Temkin With $3.5B in fresh capital, Kleiner Perkins is going all in on AI Kleiner Perkins, the prominent U.S. venture firm, announced on Tuesday that it raised $3.5 billion in fresh capital across two funds, a significant increase from the firm’s $2 billion fundraise less than two years ago. The firm, founded back in 1972, says it raised $1 billion for its 22nd early-stage venture fund, and $2.5 billion for a separate vehicle designed to fund late-stage growth businesses. The much larger capital haul is not a surprise. Over the last few years, Kleiner Perkins has managed to secure early stakes in a number of fast-growing AI startups, including Together AI, Harvey, and OpenEvidence. The firm is also an investor in Anthropic and SpaceX, two companies expected to IPO this year. At a time when exits are few and far between, Kleiner Perkins also realized significant returns from last year’s IPO of Figma, a design software company whose $25 million Series B round it led in 2018. The firm also reportedly scored a decent return when its portfolio company Windsurf was acqui-hired by Google last summer. A firm famous for its legendary early bets on Amazon and Google, Kleiner Perkins now operates with a lean team of just five partners. The firm has seen some leadership turnover recently: Ev Randle departed for rival firm Benchmark, while Annie Case has transitioned from partner to an advisory role, a Kleiner Perkins spokesperson confirmed. Kleiner Perkins joins a wave of mega-raises from other VC firms. Thrive Capital recently secured $10 billion in fresh commitments, while General Catalyst is reportedly targeting a similar amount. Meanwhile, an SEC filing confirms TechCrunch’s earlier reporting that Founders Fund has closed $6 billion for its fourth growth vehicle. Topics AI, Kleiner Perkins, Venture June 9 Boston, MA Actively scaling? Fundraising? Planning your next launch?TechCrunch Founder Summit 2026 delivers tactical playbooks and direct access to 1,000+ founders and investors who are building, backing, and closing. REGISTER NOW Newsletters See More Subscribe for the industry’s biggest tech news TechCrunch Daily News Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility TechCrunch Mobility is your destination for transportation news and insight.
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