US venture capital firm Kleiner Perkins Caufield & Byers (KPCB) has raised over $1bn to support startups.
A pair of filings with the US Securities and Exchange Commission reveal that the company raised $1.4bn for its latest core and growth funds.
Of the total amount, $1bn has been raised for the KPCB Digital Growth Fund III for later-stage agreements. The fund will be managed by Mary Meeker, Noah Knauf, Mood Rowghani and Ted Schlein.
The company also raised $400m for a new core venture fund, according to another filing.
The fund, Kleiner Perkins Caufield & Byers XVII, will be managed by Michael Abbott, Eric Feng, Wen Hsieh, Schlein and Beth Seidenberg.
The company’s chairman John Doerr is not investing in both the funds.
KPCB states on its website that for more than 45 years, it has supported several entrepreneurs in their quest to bring world changing ideas to market.
Bloomberg reported that valuations for several tech startups are cooling and there were fewer acquisitions and only two IPOs in the US.
Pensions funds, endowments, and other VC investors however continue to invest money into the asset class.
Citing Dow Jones VentureSource, the news agency reported that US venture companies collected $13bn in the first quarter, the largest amount since the dot-com boom in 2000.
American VC firms Andreessen Horowitz and Sherpa Ventures have raised $1.5bn and $470m, respectively.
Apart from the US, fintech VC investment in the UK is also experiencing a significant growth.
Figures released by Innovate Finance revealed that UK VC investment in fintech firms is up 35% in 2015, reaching $901m.
There were 72 deals in total, with the large funding rounds from Funding Circle, Transferwise, WorldRemit, eToro, RateSetter, Azimo, The Currency Cloud, MoneyFarm, and Seedrs helping drive up the total.
