The premier Silicon Valley investor Mary Meeker is in search of to lift about $1.25 billion for a brand new progress fund, a number of sources inform Enterprise Insider.
Meeker, who lately break up off from the storied enterprise agency Kleiner Perkins Caufield & Byers to create her personal fund, has but to start formal fundraising efforts. The quantity Meeker seeks to lift could change in coming months, as conversations surrounding the fund’s measurement are nonetheless very early, the folks cautioned.
Meeker was referred to as the “Queen of the Web” for her prescient evaluation of web shares within the early 2000s, and she or he oversaw late-stage investments for greater than 10 years at Kleiner Perkins. The Kleiner Perkins companions Noah Knauf, Juliet de Baubigny, and Temper Rowghani adopted Meeker to her new progress fund, which hasn’t been named.
In her years at Kleiner Perkins, Meeker spearheaded the agency’s digital progress fund, which generally took in about $1 billion in capital. Together with the companions who joined her from Kleiner Perkins, Meeker will proceed to supervise the allocation of Kleiner’s third progress fund and take part within the administration of the agency’s portfolio corporations over the following a number of years. A consultant for Meeker’s fund declined to remark.
With SoftBank’s $100 billion Imaginative and prescient Fund setting a brand new precedent for personal funding, it is not uncommon to see progress funds taking in bigger quantities of capital to gasoline late-stage corporations. Development funds are elevating a minimum of $750 million on common, traders instructed Enterprise Insider.
If Meeker is ready to elevate $1.25 billion in her new enterprise fund, it is going to be among the many largest ever to be raised by a female-led fund.