Kleiner Perkins raised $3.5 billion for AI-focused funds, Crunchbase reported in March. The raise includes $1 billion for KP22, a fund to back early-stage companies, and $2.5 billion targeted for growth-stage investments.
The firm joins Bessemer and others in raising multibillion-dollar vehicles to invest in AI across stages. The question for the industry is whether returns at these valuations can justify the capital.
Source: Crunchbase News