Khosla Ventures, renowned for its early-stage investment in OpenAI, is embarking on an ambitious fundraising effort targetting $3.5 billion across three new funds. This represents a significant increase of 17% compared to the firm’s $3 billion raised in 2023.
The majority of the newly acquired capital will be invested in Khosla’s ninth core venture fund. The remaining funds will be allocated to a $1.1 billion growth fund designed to support later-stage startups and a seed-stage focused fund with $650 million.
Khosla Ventures declined to comment on its latest fundraising campaign. Established in 2004 by Sun Microsystems co-founder Vinod Khosla, the firm is led by five managing directors. Among them is Keith Rabois, who returned to Khosla after a five-year stint as a general partner at Founders Fund. Rabois played a pivotal role in early investments for companies like DoorDash, Affirm, Stripe, and Faire during his previous tenure at Khosla Ventures.
Khosla Ventures’ initial investment of $50 million in OpenAI has yielded a 5% stake in the company’s profit arm. OpenAI is currently in the process of securing a $40 billion funding round at an impressive valuation of $340 billion.
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