Kleiner Perkins Spinning Off Profitable Part

Who wants to invest in their next fund? Anyone? Just raise your checkbooks, please? Please?
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Who'd want to invest in something like this? By Yinxinybyq [CC BY-SA 4.0 ], from Wikimedia Commons

Who'd want to invest in something like this? By Yinxinybyq [CC BY-SA 4.0 ], from Wikimedia Commons

Kleiner Perkins Caufield & Byers has made a ton of money investing in just about every tech startup you’ve ever heard of. So, with plans to raise a new fund next year, it’s, uh, gonna stop doing the former.

Kleiner Perkins is spinning off its growth-stage team in the latest attempt by the storied firm to compete in a changing industry….

In recent years, the growth team has made lucrative bets on startups such as Spotify, DocuSign, Uber, Waze, Square, Instacart, Stripe, Nextdoor and Peloton. By contrast, the rest of Kleiner Perkins hasn’t fared that well when it comes to getting into the earliest investment rounds that later become home runs.

Venture-Capital Firm Kleiner Perkins Plans to Split [WSJ]

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