Mary Meeker is leaving Kleiner Perkins to build a new fund and she’s taking the firm’s growth team with her.
The news, first reported by Recode and confirmed to TechCrunch, is the latest high-level departure at one of the most prominent Silicon Valley venture capital firms.
Joining Meeker in her new fund are Kleiner Perkins GPs Mood Rowghani and Noah Knauf, as well as Juliet de Baubigny, a partner. According to the firm, this is less of a messy break-up and more of an amicable and intentional decision to spin-off Kleiner’s growth-investing unit.
“The environment for venture has evolved — with larger checks being written for seed and A rounds and more support from partners required to build companies — demanding a high degree of specialization and extreme focus to excel,” a spokesperson for Kleiner Perkins said in a statement provided to TechCrunch. “The changes in both areas have led to less overlap between venture and growth and creating two separate firms with different people and operations now makes sense.”
We’ve reached out to Meeker for comment.
Meeker, widely known for her annual Internet Trends Report (don’t worry,