What Bad Economy? Three Big Silicon Valley VCs Poised to Haul in $2B in New Fund Raising.
Three of Silicon Valley’s more prominent venture firms — Khosla Ventures, Redpoint Ventures and the Founders Fund — are nearing the closing of new funds that will total almost $2 billion.
This despite a bad economy, turbulent markets and lackluster venture returns of late. That said, limited partners looking for an investment edge apparently seem to still be adding more dough to the VC kitty.
Sources familiar with the fundings, in fact, said the raises have been much easier than previous ones.
Khosla has raised almost $2.4 billion since 2009, including $1.3 billion in 2010. Its fourth is now nearly completed, at just under that, which the firm had previously signaled in regulatory filings it planned to raise.
The third fund has been spent on cleantech companies, but also on early-stage high-profile Internet start-ups such as Square.
Redpoint will focus its fund — which sources said was $400 million — on growth opportunities.
Its last fund in 2010 was $400 million, too. It has invested that money in start-ups, such as Jumptap, Kabam and Pure Storage.
Lastly, the Founders Fund — with high-profile partners Peter Thiel and Sean Parker — is aiming at a $350 million fund with a $150 million “cushion” to raise more. Its last fund of $250 million was raised last year.
Founders Fund has recently made investments in Path, Azumio and Topsy.