Khosla Ventures, a agency recognized for early investments in OpenAI, is elevating $3.5 billion throughout three funds, the Wall Street Journal reported. That concentrate on is 17% bigger than the agency’s earlier 2023 fund haul of $3 billion.
About half of the brand new capital can be allotted to its ninth core enterprise fund. The remaining cash can be divided between a $1.1 billion progress fund for later-stage startups and a $650 million seed-stage centered fund.
Khosla Ventures declined to touch upon its new fundraise.
The agency, which was based by Solar Microsystems co-founder Vinod Khosla in 2004, has 5 managing administrators, together with Keith Rabois, who rejoined the agency after spending five years as a normal companion in Founders Fund. Throughout his first stint in Khosla Ventures, Rabois was an early investor in DoorDash, Affirm, Stripe, and Faire.
Khosla Ventures’ preliminary $50 million test in OpenAI has purchased it a 5% stake within the profit-arm of the corporate, which is reportedly elevating a $40 billion funding spherical at a $340 billion valuation.