Venture capital firm Kleiner Perkins raises $1.8 bn

Venture capital (VC) firm Kleiner Perkins has raised $1.8 billion through two new funds.
Dollar spending on technologyKleiner Perkins has raised $800 million and $1 billion for funds named KP20 and Select2, to invest in early stage startups across sectors. The company is also looking to tap into more cryptocurrency investments.

Over the past five decades, the venture capital giant has invested in some of the biggest technology companies, including Alphabet, Amazon.com, Twitter and Uber Technologies.

The ongoing consumer shift towards digitization will continue, driving up demand for tools offered by technology companies, said Mamoon Hamid, partner at Kleiner Perkins.

Silicon Valley-based venture capital giant Andreessen Horowitz raised $9 billion through three new funds last week.

A total of 38,644 venture capital deals were made globally last year, totaling $671 billion in volumes, higher than any other year on record, according to data from PitchBook.

Kleiner Perkins said it had raised 20 early-stage venture funds since it was founded in 1972. ​

A string of its portfolio companies listed on public exchanges in New York last year, including language learning app Duolingo and online education platform Coursera, fetched a valuation of more than $5 billion each.

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