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Kleiner is raising two new funds totaling upwards of $1.3 billion

TechCrunch TechCrunch 23/05/2016 Connie Loizos

Kleiner Perkins Caufield & Byers, long a leading venture firm, is talking with investors about two new funds that would total roughly $1.3 billion, CNBC reported earlier today and TechCrunch has confirmed.

The firm may have a slightly harder go of it than in the past, given that its most prominent partner, John Doerr, announced in March that he’s becoming chairman of the firm and won’t be a general partner in any new funds.

LPs are also being deluged with requests from venture firms that are back in the market sooner than some of these investors expected. A number of name-brand funds, including Accel Partners, Lightspeed Venture Partners, and Founders Fund, have raised new, billion-dollar plus funds this year, just two years after closing their last funds. Indeed, Kleiner itself last raised $1.2 billion across two funds in 2014.

We’ve reached out to the firm for more information. More to come.

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