Our New Funds: KP22 and KP Select IV

We are thrilled to announce our twenty-second venture fund, KP22, a $1 billion fund to back early-stage companies, and $2.5 billion in growth funds to back high-inflection, category-defining businesses. With $3.5 billion, these new funds represent our deepened commitment to backing exceptional founders who want to make history.

Since our last fundraise, the pace of change has only accelerated. The AI super-cycle is one of the most important company-building moments in our lifetimes, and we are still in the early innings. AI is reshaping how products are built, how businesses operate, and how entire industries work. Its impact is already visible across software development, legal and professional services, healthcare, transportation, and more. This technology is expanding across the full stack, from infrastructure to applications, and the companies being built on it are taking root in the real economy faster than almost anything we have seen before due to the immense value they deliver.

This moment is also creating escape velocity: companies with genuine AI leverage can clear product-market fit and breakout growth faster than ever. This has reinforced a simple lesson: conviction in the right founders at the right moments matters more than ever across all stages of investing.

Our strategy reflects that reality. At the early stage, we are investing broadly across the AI landscape, backing founders building new products, platforms, and categories from the ground up. At growth, we remain selective, partnering with breakout companies and doubling down where our conviction continues to deepen. Across both stages, we see exceptional opportunities in areas including professional services, healthcare, autonomy, security, financial services, productivity, and the physical economy.

Through all of this, our core values have not changed. For 54 years, we’ve held firm in the belief that venture is an art and a craft, grounded in deep relationships with founders and a real commitment to helping them build companies that last. We believe in lean investment and portfolio operating teams that work on founder time, and are deeply committed to a bespoke, hands-on approach to supporting our companies through all stages of growth.

We are deeply grateful to all the founders who have partnered with us on this journey, and could not be more excited to back the next generation of history-making founders.

– Kleiner Perkins Team