FORTUNE -- Kleiner Perkins Caufield & Byers last week unveiled its new fundraising plans, at a meeting of the venture capital firm's limited partners.
Fortune has learned that KPCB plans to target $450 million for its sixteenth early-stage fund, compared to the $525 million it raised two years ago. The firm also plans to raise $750 million for its second "digital growth" fund, compared to its $1 billion predecessor.
Sources say that the early-stage fundraising will go faster than will digital growth. Not only because of the smaller size, but also because there are widespread LP concerns that many recent late-stage tech deals are being done at unsustainable valuations. That said, expect both funds to get raised, given that those macro concerns didn't scare LPs off of recent "growth" fundraises for fellow Silicon Valley firms like Andreessen Horowitz and Accel Partners.
Two additional KPCB notes:
1. Amol Deshpande, a KPCB partner focused on greentech investing, appears to have launched a startup called the Farmer's Business Network. According to an SEC filing, the effort has secured $4.6 million (of a possible $6 million) from two investors. I'm guessing one is KPCB, since the effort is based in its Menlo Park headquarters. There had been rumors that Deshpande – one of the younger KPCB partners who basically got passed over in last year's restructuring – was thinking about launching some sort of agriculture-focused fund, but this appears to be more of a company. Deshpande and a KPCB spokeswoman declined comment.
2. KPCB seems to have added a bunch of new young staffers focused on digital investments, according to its website. They include: Creighton Hicks (ex-VMWare), Anjney Midha (previously with First Round Capital's Dorm Room Fund) and Alex Kurland (ex-Summit Partners). The firm's greentech group also has added Paul Yeh, who previously was director of strategy and business development at Fisker Automotive.
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Mary Meeker is helping Kleiner Perkins succeed in the world of 'digital growth.'
FORTUNE -- Mary Meeker is turning out to be a pretty good venture capitalist.
The former Morgan Stanley Internet analyst joined Kleiner Perkins Caufield & Byers in January 2011, to lead a new $1 billion fund focused on growth-stage technology companies. At the time, she had plenty of skeptics. Meeker would be in charge of KPCB's largest active MOREDan Primack - Feb 14, 2014 2:44 PM ET
Kleiner Perkins is slowly beginning to rev up the fundraising engine.
FORTUNE -- Kleiner Perkins Caufield & Byers is planning to raise its sixteenth early-stage fund later this year, Fortune has learned.
The Sand Hill Road stalwart last was in the market two years ago, when it secured $525 million for KPCB XV. It also continues to manage a paid of growth equity funds, focused on digital and 'green' investments, respectively.
No MOREDan Primack - Feb 11, 2014 12:30 PM ET
Tom Perkins walks in front of a moving bus, and then complains about getting run over.
FORTUNE -- Tom Perkins is not too pleased with the venture capital firm that bears his name.
On Saturday, Kleiner Perkins Caufield & Byers distanced itself from its founder, after Perkins penned a letter to The Wall Street Journal that compared today's "demonization" of wealthy Americans to Nazi Germany's persecution of Jews in the 1930's. Today, MOREDan Primack - Jan 27, 2014 7:38 PM ET
Venture capital firm rightly disavows co-founder comments.
FORTUNE -- As you've almost certainly heard by now, onetime venture capitalist Tom Perkins penned an inane letter to The Wall Street Journal, in which he compared recent "demonization" of America's wealthiest individuals to Nazi Germany's war on Jews. And, to drive the point home, he added: "Kristallnacht was unthinkable in 1930; is its descendent 'progressive' radicalism unthinkable now?"
Just goes to show that any crackpot MOREDan Primack - Jan 27, 2014 12:03 PM ET
Long before being sold to Google for $3.2 billion, Nest had to persuade venture capitalists.
FORTUNE -- Nest Labs is Silicon Valley's most recent success story, agreeing earlier this week to be acquired by Google (GOOG) for $3.2 billion. But it wasn't always such an obvious winner.
Back in 2010, Nest's founding team went to pitch itself to venture capital firm Kleiner Perkins Caufield & Byers. The two investors with whom they MOREDan Primack - Jan 15, 2014 3:23 PM ET
Venture capital firm says that it fired partner for poor performance, not as retaliation for gender discrimination suit.
FORTUNE -- Kleiner Perkins Caufield & Byers is disputing accusations that it fired Ellen Pao last year as retaliation for her gender discrimination lawsuit against the firm. Instead, Kleiner Perkins says in new court documents that Pao was terminated for "long standing performance issues."
Pao originally filed suit in May 2012, alleging that Kleiner MOREDan Primack - Nov 25, 2013 2:21 PM ET
Kleiner Perkins partner ponders next act.
FORTUNE -- Chi-Hua Chien, a partner with Kleiner Perkins Caufield & Byers, is thinking about launching his own venture capital fund, Fortune has learned.
Chien is in the very early stages of talking to both prospective LPs and his Kleiner Perkins colleagues, for what likely would be a small seed and early-stage fund focused on consumer technology companies.
Last month we reported on a major management shake-up over MOREDan Primack - Nov 14, 2013 12:19 PM ET
Neighborhood social network maker now worth around $600 million.
FORTUNE -- Nextdoor, a private social network for neighborhoods, this morning announced that it has raised $60 million in new VC funding, co-led by Tiger Global Management and Kleiner Perkins Caufield & Byers. The round was competitive, with sources telling Fortune that it values the San Francisco-based company at approximately $600 million.
Comcast Ventures also participated, alongside existing shareholders Benchmark, Greylock Partners and Shasta MOREDan Primack - Oct 29, 2013 9:01 AM ET
Memo reveals slimmed-down investment committee.
FORTUNE -- Kleiner Perkins Caufield & Byers is making some major changes to its early-stage investment practice, Fortune has learned.
The venerable VC firm this week sent a memo to its limited partners, explaining that its active early-stage funds will be led by a group of just five managing directors (who also will serve as the funds' investment committee). The quintet consists of: John Doerr, Ted Schlein, Randy MOREDan Primack - Oct 11, 2013 11:23 AM ET
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