Two SEC filings, posted late this afternoon, sign intent by Khosla Ventures to lift one other $1.4 billion throughout two new enterprise capital funding funds. This will convey the quantity of publicly-known capital underneath administration to $5.8 billion throughout its major enterprise and seed funds. (This $5.8 billion figure doesn’t embrace belongings from the primary two enterprise funds or any sidecar funds for which public filings aren’t out there.)
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The largest new fund, the agency’s sixth major enterprise fund, is inventively known as “Khosla Ventures VI, L.P.” and can increase as much as $1 billion. The second fund appears to be centered on seed-stage offers and would be the agency’s fourth such fund. The new seed automobile is known as “Khosla Ventures Seed D, L.P.” and can handle as a lot as $400 million.
Lately, a lot consideration has been paid to enterprise capital companies elevating ever-larger funds. But simply as we speak, CNBC broke the information that Sequoia Capital will increase a brand new $12 billion growth-stage enterprise fund to counterbalance the likes of SoftBank. As Crunchbase News has lined beforehand, SoftBank’s $100 billion Vision Fund is in a league all its personal.
And Khosla’s $1 billion for a brand new enterprise fund and $400 million for a brand new seed fund might sound like some huge cash; nonetheless, these funds aren’t materially bigger than what the agency has raised previously. In reality, they’re proper in step with historic averages.
Using a mixture of Crunchbase fund knowledge and SEC filings for verification, we discovered the historic fund sizes for Khosla Ventures funds.
The chart beneath reveals the fund dimension for Khosla’s major enterprise funds, which excludes the primary two funds resulting from lack of knowledge.
The $1 billion sixth fund revealed as we speak, once more, is correct in step with historic averages. With an extra $100 million underneath administration, the fourth fund is the outlier right here.
There is barely extra variation with the dimensions of its seed funds, as we are able to see beneath.
The “Seed D” fund listed in as we speak’s regulatory filings is the very same dimension as Khosla’s prior seed-focused fund, which was introduced in late 2014. And contemplating that $400 million is located between the AUM figures of Khosla’s first two seed funds, it seems to be just like the agency has dialed in a fund dimension to suit its investing technique.
By the requirements of most funding companies, these can be thought of fairly massive funds, however for Khosla Ventures, that is simply one other stroll down Sand Hill Road.
Illustration: Li-Anne Dias
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