![]() And Kleiner’s most prominent growth-stage investment partner, Mary Meeker, did just leave to start her own firm. Of course, $600 million is by no means a tiny fund. Three weeks ago, the 47-year-old firm closed on $600 million for its eighteenth flagship fund, touting a plan to go “back to the future” and focus on early-stage with the philosophy that “venture is a non-scalable, boutique craft.” Silicon Valley stalwart Kleiner Perkins is among the latest to hop on the smaller-is-better bandwagon. Adding more capital to the pot, the thinking goes, likely does more to inflate valuations than foster great companies. ![]() While VCs compete to back massively scalable startups, the common wisdom is the venture capital industry itself does not scale especially well. The influx of small and mid-sized funds serves as a reminder that supergiant funds are somewhat of an aberration for the venture capital industry. Newcomers are rolling out fresh early-stage funds, and even established VCs are opting in many cases to keep fund size constant or even a bit smaller. ![]() venture fundraising data for 2019 reveals a lot of smaller, more focused funds closing on capital. Ever since the rollout of the $100 billion SoftBank Vision Fund, established VCs have been outdoing each other to raise ever-bigger funds.īut let’s not write the epitaph on smaller funds. Over the past year, we’ve written a lot about the rise of supergiant venture capital funds. Which public US universities graduate the most funded founders?. ![]()
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