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venturebeat.com - 1/15/2009

Kleiner Perkins forced to reach out to new investors: “Unheard of”

— venturebeat.com — Kleiner Perkins , one of the valley’s biggest name venture capital firms, is raising a so-called “annex fund,” or reserve fund it can tap to support companies it has already backed to help ensure they get through the downturn.  ... (more) Kleiner Perkins forced to reach out to new investors: ...

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Morning Reading 01/14/09
Paul Kedrosky's Infectious Greed — Fresh Uganda oil find ‘Africa’s biggest’ (Times) You are being lied to about pirates (The Independent) Ireland will see more demolition than construction of homes over next decade (Irish Times) Kleiner Perkins Re-Raising Multiple Funds (PE Hub) Same authors holds top four spots on bestseller lists (Freakonomics) Nortel files for bankruptcy protection (Bloomberg) Raoul Weil from UBS Declared A Fugitive | Toomre Capital Markets LLC (Source) ...

Kleiner Perkins Seeks Follow-on Funds for Green Growth Startups [Earth2Tech]
GigaOM Network — ... has reopened its $500 million Green Growth and $700 million KPCB XIII funds, reaching out to investors for extra cash to support already-backed companies through the economic downturn, peHub reports. ...

Kleiner Perkins Looking For More Cash
Silicon Alley Insider — ... PeHub: The landmark VC firm is currently raising annex funds for its eleventh (2004) and twelfth funds (2006), in order to have cash on hand in case it needs additional follow-on capital. It also has reopened fundraising for a pair of funds initially closed last year: The $700 million Fund XIII and the $500 million Green Growth fund. Moreover, the Green Growth fund is now open to limited partners that have not previously invested with Kleiner Perkins, which is a pretty big deal from a legacy access perspective. ...