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.