We’re thrilled to announce that we’ve raised Kleiner Perkins’ 18th venture fund -- $600 million to focus on early stage investing. This marks 47 years for our firm, and with a fresh team and strategy, we’re incredibly excited for the next 47 years.
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Kleiner Perkins Fund 18
2. To be the first call for founders who want to make
history, and to partner with them as company builders
in pursuit of that goal.
OUR MISSION
4. It takes a unique team, and an
iconic brand to win.
Venture is an art and a craft.
It’s boutique, non-scalable, and
requires dedicated practitioners.
16. The way we work is changing
We need fundamentally better tools to free up time…so we can live
In that free time, we have an opportunity to consume more experiences
THESIS #1:
We work…so we can live
18. Every business is now a tech business
600M knowledge workers worldwide
Vertical SaaS giving way to new business models
THESIS #2:
The way businesses
are built is changing.
20. Urbanization is transforming how we live, real estate, commerce …
Wealth disparity is driving the need for financial freedom and opportunity
Experiences, wellness, and asset-lightness are becoming the focus
THESIS #3:
Economic shifts are
changing how we live.
22. New tech trends are often significantly enabled and accelerated by advances
in underlying core infrastructure
Novel IT and AI platforms abound, while existing systems grow increasingly
efficient
THESIS #4:
The digitized world requires
new infrastructure.
24. Our open systems are being used against us
Who will matter more than what
Humans cannot keep up and protect
We need to shift the economics of the bad guys
THESIS #5:
Our biggest security threats
are in front of us.
26. VENTURE HAS EVOLVED DRAMATICALLY
Seed Series A Series B/C Mezzanine IPO
2009
Seed Series A Series B/C Growth Mega growth
2019
Pre-Seed IPO
27. MORE SEED DEALS THAN EVER BEFORE
737
865
1,155
1,653
2,508
3,404
4,492
5,233
5,416
4,185 4,116
0
3000
6000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
DATA FROM NVCA/PITCHBOOK
28. BUT SERIES As HAVE STAYED RELATIVELY CONSTANT
0
9000
18000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
2,015
2,160
1,771
2,039
2,337
2,507
2,663
2,886 2,818
2,594
2,775
$0
$9B
$18B
Total Capital Invested Count of investments
DATA FROM NVCA/PITCHBOOK
35. Confidential
disclaimers
THESE MATERIALS HAVE BEEN PREPARED ON A CONFIDENTIAL BASIS SOLELY FOR PROSPECTIVE INVESTORS CONSIDERING THE PURCHASE OF non-managing member
interests (THE “INTERESTS”) IN KPCB XVIII LLC (COLLECTIVELY, THE “FUND”).
THESE MATERIALS MAY CONTAIN “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995, AS AMENDED.
BECAUSE SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES, ACTUAL RESULTS OF THE FUND, PRIOR FUNDS ADVISED BY KPCB, AND/OR ANY
INDIVIDUAL INVESTMENTS MAY DIFFER MATERIALLY FROM ANY EXPECTATIONS, PROJECTIONS OR PREDICTIONS MADE OR IMPLICATED IN SUCH FORWARD-LOOKING
STATEMENTS. PROSPECTIVE INVESTORS ARE THEREFORE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON SUCH FORWARD-LOOKING STATEMENTS. KPCB AND ITS
REPRESENTATIVES DO NOT UNDERTAKE ANY OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.
THE INTERESTS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE OR FOREIGN SECURITIES LAWS,
NOR HAVE SUCH INTERESTS BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) OR THE SECURITIES
REGULATORY AUTHORITY OF ANY STATE OR FOREIGN JURISDICTION. NEITHER THE SEC NOR ANY COMMISSIONER OF ANY SUCH STATE OR NON-US AUTHORITY HAS
PASSED UPON THE ACCURACY OR ADEQUACY OF THESE MATERIALS, AND ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. THESE MATERIALS DO NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES OR INVESTMENT ADVISORY SERVICES IN ANY STATE OR IN ANY OTHER
JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORIZED.
PROSPECTIVE INVESTORS ARE NOT TO CONSTRUE THE CONTENTS OF THESE MATERIALS OR ANY PRIOR OR SUBSEQUENT COMMUNICATION FROM KPCB OR ANY OF ITS
REPRESENTATIVES OR AFFILIATES, AS LEGAL, TAX, OR INVESTMENT ADVICE. EACH INVESTOR SHOULD CONSULT WITH AND RELY ON HIS, HER OR ITS OWN PERSONAL
COUNSEL, ACCOUNTANT, OR OTHER ADVISORS AS TO LEGAL, TAX, AND ECONOMIC IMPLICATIONS OF AN INVESTMENT IN THE FUND AND ITS SUITABILITY FOR SUCH
INVESTOR.
THE INTERESTS IN THE FUND WILL BE OFFERED ONLY TO INVESTORS WHO MEET CERTAIN QUALIFICATIONS. KPCB RESERVES THE RIGHT TO APPROVE EACH INVESTOR.
RESULTS ARE AN AMALGAMATION OF RETURNS ACROSS DIFFERENT INVESTMENT FUNDS, MANY OF WHICH WERE NOT MANAGED BY KPCB. MOREOVER, PAST RESULTS
ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS, AND THERE CAN BE NO ASSURANCE THAT KPCB XVIII, LLC WILL ACHIEVE RESULTS COMPARABLE TO THOSE OF
ANY PRIOR OR EXISTING FUND ADVISED BY KPCB OR ITS PRINCIPALS.
PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS, AND THERE CAN BE NO ASSURANCE THAT KPCB XVIII, LLC WILL ACHIEVE RESULTS
COMPARABLE TO THOSE OF ANY PRIOR OR EXISTING FUND ADVISED BY KPCB OR ITS PRINCIPALS.