Khosla Ventures, the eponymous venture firm helmed by longtime Silicon Valley rainmaker Vinod Khosla, is raising $1.1 billion for its latest venture fund, according to documents from the Securities and Exchange Commission.
The filing was first spotted by Ari Levy over at CNBC.
Khosla Ventures files to raise $1.1 billion fund.
Some beach reading: https://t.co/eKXq92kDMP
— Ari Levy (@levynews) October 14, 2020
Khosla, whose investing career began at Kleiner Perkins Caufield & Byers (back when it was still called Kleiner Perkins Caufield & Byers) is rightly famous for a number of bets on enterprise software companies and was a richly rewarded co-founder of Sun Microsystems before venturing into the world of venture capital.
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Like his former partner, John Doerr, Khosla also went all-in on renewable energy and sustainability both at Kleiner Perkins and then later at his own fund, which he reportedly launched with several hundreds of millions of dollars from his personal fortune.
Over the years Khosla Ventures has placed bets and scored big wins across a wide range of industries, including cybersecurity (with the over $1 billion acquisition of portfolio company Cylance), sustainability (with the Climate Corp. acquisition) and healthcare (through the public offering of Editas).
And the current portfolio should also have some big exits with a roster that includes: the unicorn lending company, Affirm; the nuclear fusion technology developer, Commonwealth Fusion Systems (maybe not a winner, but so, so, so cool); delivery company, DoorDash; the meat replacement maker, Impossible Foods; grocery delivery service, Instacart; security technology developer, Okta; the health insurance provider, Oscar; and the payment companies Square and Stripe.
That’s quite a string of unicorn (and would-be unicorn) investments. And it speaks to the breadth of the firm’s interests that run the gamut from healthcare to fintech to sustainability and the future of food.
Khosla will likely benefit from the surge of interest in investments that adhere to new environmental, social responsibility and corporate governance standards.
There are billions of dollars that are looking for a home that can invest along those criteria, and for the last 16 years or so, that’s exactly what Khosla Ventures has been doing.
A clean energy company now has a market cap rivaling ExxonMobil
