Kleiner Perkins Raises $3.5B Across Two AI-Focused Funds — Largest Raise in Firm's 53-Year History

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Kleiner Perkins announced on March 24 it raised $3.5 billion in fresh capital: $1B for KP22 (early-stage AI startups) and $2.5B for growth-stage AI companies. This is a 75% increase from the firm's $2B raise less than two years ago. Portfolio includes Together AI, Harvey, and OpenEvidence — all AI-native companies displacing traditional SaaS categories in legal, infrastructure, and healthcare.