AI NewsWith $3.5B in fresh capital, Kleiner Perkins is going all in on AI

With $3.5B in fresh capital, Kleiner Perkins is going all in on AI

9:22 AM IST · March 25, 2026

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 billionfundraise 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 alsorealized significant returnsfrom last year’s IPO of Figma, a design software company whose $25 million Series B round it led in 2018. The firm alsoreportedly scoreda 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 billionin fresh commitments, while General Catalyst isreportedly targetinga similar amount. Meanwhile, anSEC filingconfirmsTechCrunch’s earlierreporting that Founders Fund has closed $6 billion for its fourth growth vehicle.