Kleiner Perkins has launched a new, small seed stage investment initiative within its latest fund to invest in technology like virtual reality and drones that will offer founders a suite of additional services.
As part of this new fund called the Edge fund, Kleiner Perkins has brought on Roneil Rumburg, am engineer, and Ruby Lee, a product hire, to build software that will help those founders deal with various problems like recruiting and operations. Kleiner Perkins will write $250,000 checks as uncapped convertible notes.
“At beginning of this year or sometime late last year — maybe longer — [founding partner] Anjney [Midha] and I had been brainstorming,” Kleiner Perkins managing partner Mike Abbott said. “When were looking at the future of venture capital, we’re feeling pretty strongly there has to be more software and APIs that are offered by venture firms to existing portfolio companies, especially new ones.”
This fund has a bit of a different structure too…
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