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.