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Kleiner Perkins closes $525M early stage fund

New fund will focus on investing in digital consumer, digital enterprise, green tech, and life sciences startups.

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Steven Musil Night Editor / News
Steven Musil is the night news editor at CNET News. He's been hooked on tech since learning BASIC in the late '70s. When not cleaning up after his daughter and son, Steven can be found pedaling around the San Francisco Bay Area. Before joining CNET in 2000, Steven spent 10 years at various Bay Area newspapers.
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Steven Musil

Kleiner Perkins Caufield & Byers has closed its 15th traditional fund at $525 million, the Silicon Valley venture capital firm announced this evening.

Best known for backing companies such as Google and Amazon, Kleiner Perkins said the fund will focus on investing in digital consumer, digital enterprise, green tech, and life sciences startups. The fund, dubbed Fund XV, will be led by 10 of Kleiner Perkins' partners, the company said.

"Portfolio companies in KPCB 15 will benefit from the firm's holistic approach to company building that we pioneered more than a decade ago," Ted Schlein, a partner at KPCB, said in a statement. "We will identify promising early-stage companies in our areas of focus and bring value-added resources in key areas to help early-stage companies grow and succeed. This includes applying our considerable industry, operational, and financial expertise and network of relationships to help entrepreneurs build lasting enterprises."

The Menlo Park, Calif.-based firm also said it continues to invest from a $1 billion fund focused on digital growth led by former Morgan Stanley analyst Mary Meeker and a $1 billion fund focused on green growth.