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Kleiner Perkins Fund 18

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We’re thrilled to announce that we’ve raised Kleiner Perkins’ 18th venture fund -- $600 million to focus on early stage investing. This marks 47 years for our firm, and with a fresh team and strategy, we’re incredibly excited for the next 47 years.

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Kleiner Perkins Fund 18

  1. 1. To be the first call for founders who want to make history, and to partner with them as company builders in pursuit of that goal. OUR MISSION
  2. 2. Moral compass Humility Empathy Winning as a mindset OUR ETHOS
  3. 3. It takes a unique team, and an iconic brand to win. Venture is an art and a craft. It’s boutique, non-scalable, and requires dedicated practitioners.
  4. 4. A FOCUSED, EXPERIENCED NIMBLE TEAM WITH BREADTH
  5. 5. A UNIQUELY EXPERIENCED INVESTMENT TEAM Mamoon Hamid Wen Hsieh Ted Schlein Annie Case Josh Coyne Monica Desai Bucky Moore Ilya Fushman
  6. 6. DEEPLY TECHNICAL FOUNDATION Education 2 PhDs, 5 Masters Specialties in Semiconductor design, Quantum Computing, Biochemistry, Microfluidics
  7. 7. 40+ years of operating experience SaaS, Consumer, Security, Networking, Semiconductors Engineering/Product, Sales, Marketing, Corp Dev, BD BREADTH OF OPERATING EXPERIENCE
  8. 8. SUCCESSFUL INVESTMENT TRACK RECORD 60+ years of investing experience
  9. 9. BUILDING ON OUR LEGACY Brook Byers John Doerr Bing Gordon Founder Chairman Valuable experience building iconic companies
  10. 10. WE SPEAK THE LANGUAGES OF > 80% OF HUMANS
  11. 11. IN KP17 > 70% OF OUR FOUNDER/CEOS WERE IMMIGRANTS
  12. 12. WHAT ARE WE INVESTING IN?
  13. 13. THE WAY WE LIVE AND WORK IS DRAMATICALLY TRANSFORMING
  14. 14. thesis #1: We work…so we can live
  15. 15. The way we work is changing We need fundamentally better tools to free up time…so we can live In that free time, we have an opportunity to consume more experiences THESIS #1: We work…so we can live
  16. 16. thesis #2: The way businesses are built is changing.
  17. 17. Every business is now a tech business 600M knowledge workers worldwide Vertical SaaS giving way to new business models THESIS #2: The way businesses are built is changing.
  18. 18. thesis #3: Economic shifts are changing how we live.
  19. 19. Urbanization is transforming how we live, real estate, commerce … Wealth disparity is driving the need for financial freedom and opportunity Experiences, wellness, and asset-lightness are becoming the focus THESIS #3: Economic shifts are changing how we live.
  20. 20. thesis #4: The digitized world requires new infrastructure
  21. 21. New tech trends are often significantly enabled and accelerated by advances in underlying core infrastructure Novel IT and AI platforms abound, while existing systems grow increasingly efficient THESIS #4: The digitized world requires new infrastructure.
  22. 22. thesis #5: Our biggest security threats are in front of us.
  23. 23. Our open systems are being used against us Who will matter more than what Humans cannot keep up and protect We need to shift the economics of the bad guys THESIS #5: Our biggest security threats are in front of us.
  24. 24. HOW WE’RE DOING IT
  25. 25. VENTURE HAS EVOLVED DRAMATICALLY Seed Series A Series B/C Mezzanine IPO 2009 Seed Series A Series B/C Growth Mega growth 2019 Pre-Seed IPO
  26. 26. MORE SEED DEALS THAN EVER BEFORE 737 865 1,155 1,653 2,508 3,404 4,492 5,233 5,416 4,185 4,116 0 3000 6000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 DATA FROM NVCA/PITCHBOOK
  27. 27. BUT SERIES As HAVE STAYED RELATIVELY CONSTANT 0 9000 18000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2,015 2,160 1,771 2,039 2,337 2,507 2,663 2,886 2,818 2,594 2,775 $0 $9B $18B Total Capital Invested Count of investments DATA FROM NVCA/PITCHBOOK
  28. 28. TIMES HAVE CHANGED Sourcing Diligence Judgment 1,000 500 100 Investment 10 5,000 Filtering 2019 Sourcing Diligence Judgment 1,000 500 100 Investment 10 2009 DATA FROM NVCA/PITCHBOOK
  29. 29. VENTURE HAS EVOLVED DRAMATICALLY Seed Series A Series B/C Mezzanine IPO 2009 Seed Series A Series B/C Growth Mega growth 2019 Pre-Seed IPO
  30. 30. AND ON SECTOR Enterprise Applications Infrastructure Security Vertical SaaS Consumer Urbanization Health & Wellness Commerce Experiences & Entertainment Hardtech Enterprise Consumer Fintech B2B Consumer
  31. 31. WE WON’T REST UNTIL WE’RE DOING WELL AND DOING GOOD
  32. 32. JOIN US ON THIS JOURNEY FOR THE NEXT 47 YEARS
  33. 33. Confidential disclaimers THESE MATERIALS HAVE BEEN PREPARED ON A CONFIDENTIAL BASIS SOLELY FOR PROSPECTIVE INVESTORS CONSIDERING THE PURCHASE OF non-managing member interests (THE “INTERESTS”) IN KPCB XVIII LLC (COLLECTIVELY, THE “FUND”). THESE MATERIALS MAY CONTAIN “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995, AS AMENDED. BECAUSE SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES, ACTUAL RESULTS OF THE FUND, PRIOR FUNDS ADVISED BY KPCB, AND/OR ANY INDIVIDUAL INVESTMENTS MAY DIFFER MATERIALLY FROM ANY EXPECTATIONS, PROJECTIONS OR PREDICTIONS MADE OR IMPLICATED IN SUCH FORWARD-LOOKING STATEMENTS. PROSPECTIVE INVESTORS ARE THEREFORE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON SUCH FORWARD-LOOKING STATEMENTS. KPCB AND ITS REPRESENTATIVES DO NOT UNDERTAKE ANY OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. THE INTERESTS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE OR FOREIGN SECURITIES LAWS, NOR HAVE SUCH INTERESTS BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) OR THE SECURITIES REGULATORY AUTHORITY OF ANY STATE OR FOREIGN JURISDICTION. NEITHER THE SEC NOR ANY COMMISSIONER OF ANY SUCH STATE OR NON-US AUTHORITY HAS PASSED UPON THE ACCURACY OR ADEQUACY OF THESE MATERIALS, AND ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. THESE MATERIALS DO NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES OR INVESTMENT ADVISORY SERVICES IN ANY STATE OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORIZED. PROSPECTIVE INVESTORS ARE NOT TO CONSTRUE THE CONTENTS OF THESE MATERIALS OR ANY PRIOR OR SUBSEQUENT COMMUNICATION FROM KPCB OR ANY OF ITS REPRESENTATIVES OR AFFILIATES, AS LEGAL, TAX, OR INVESTMENT ADVICE. EACH INVESTOR SHOULD CONSULT WITH AND RELY ON HIS, HER OR ITS OWN PERSONAL COUNSEL, ACCOUNTANT, OR OTHER ADVISORS AS TO LEGAL, TAX, AND ECONOMIC IMPLICATIONS OF AN INVESTMENT IN THE FUND AND ITS SUITABILITY FOR SUCH INVESTOR. THE INTERESTS IN THE FUND WILL BE OFFERED ONLY TO INVESTORS WHO MEET CERTAIN QUALIFICATIONS. KPCB RESERVES THE RIGHT TO APPROVE EACH INVESTOR. RESULTS ARE AN AMALGAMATION OF RETURNS ACROSS DIFFERENT INVESTMENT FUNDS, MANY OF WHICH WERE NOT MANAGED BY KPCB. MOREOVER, PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS, AND THERE CAN BE NO ASSURANCE THAT KPCB XVIII, LLC WILL ACHIEVE RESULTS COMPARABLE TO THOSE OF ANY PRIOR OR EXISTING FUND ADVISED BY KPCB OR ITS PRINCIPALS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS, AND THERE CAN BE NO ASSURANCE THAT KPCB XVIII, LLC WILL ACHIEVE RESULTS COMPARABLE TO THOSE OF ANY PRIOR OR EXISTING FUND ADVISED BY KPCB OR ITS PRINCIPALS.

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