Drug Development

Kleiner Perkins is lining up a new $400M tech fund

Legendary Silicon Valley venture group Kleiner Perkins Caufield & Byers — a player in the biotech arena — has outlined plans to raise $400 million for a new fund in a filing yesterday with the SEC.

That number may well just be a place holder for the final figure. CNBC reported a few weeks ago that Kleiner Perkins was raising two funds for a total of about $1.3 billion, quoting sources. About $800 million of that was being reserved for more mature companies while the rest would be startup oriented.

Beth Seidenberg

Beth Seidenberg

The high profile Beth Seidenberg, a former R&D exec who joined KPCB after a stint as CMO at Amgen, is listed in the filing, which was dispatched on Thursday. Her role as a VC player has put her on the boards of 3-V Biosciences, ARMO Biosciences, Breathe Technologies, FLX, Hixme, Kinsa, Mango Health, Practice Fusion, Progyny and True North; as well as three publicly traded companies: Atara Bio (ATRA), Epizyme (EPZM) and Tesaro (TSRO).

We’d ask her for a comment, but the venture firm is in a quiet period now, so we’ll save that for later.

The best place to read Endpoints News? In your inbox.

Full-text daily reports for those who discover, develop, and market drugs. Join 19,000+ biopharma pros who read Endpoints News by email every day.

Free Subscription

PODD 2017

BioNJ CEO Summit 2017