Kleiner Perkins Caufield & Byers, the venture capital firm that last year defended itself against an explosive sexual discrimination lawsuit, is raising two funds totaling close to $1.3 billion, according to sources familiar with the matter.
The Silicon Valley firm is looking to raise a growth fund of about $800 million, targeting more mature start-ups, with the balance going to an early-stage fund, said the sources, who asked not to be named because the fundraising is confidential. The funds should close in June and the total amount raised could change, they said.
The new funds come on the heels of a busy few years for Kleiner, and not all in a good way. In early 2015, the firm was in court against former partner Ellen Pao, the conclusion of a three-year process that saw many of its high-profile partners publicly ridiculed for sexist behavior. While Kleiner won the case and avoided a payment of up to $16 million, the reputational damage was steep.