Kleiner Perkins will make huge green bets

John Shinal · May 1, 2008 · Short URL: https://vator.tv/n/215

If Kleiner-Perkins' latest fundraising sets an example for the rest of the venture capital industry, green-focused companies are about to get access to a huge pool of capital.

The storied firm said today it had raised a $500 million fund targeted at later-stage green startups that need money to fuel growth. Kleiner Perkins has brought in Ben Kortlang from Goldman Sachs to co-manage the fund along with current partner John Denniston.

It also raised its 13th fund, a $700 million war chest that will go into green companies as well as life sciences and traditional IT.

The size of the two funds is a reminder that alternative-fuels companies and other green startups need to raise hundreds of millions of dollars to get to a profitable size.

Al Gore will have a say in the investments on both sides of the Atlantic as Kleiner also said it was expanding its partnership with London-based Generation Investment Management, in which Gore is a director.

To see what Kleiner looks for when making investments, watch the video of Kleiner partner Ray Lane embedded in this post.

Support VatorNews by Donating

Read more from our "Trends and news" series

More episodes