Kleiner Perkins related stories
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BitTorrent raises $7M moreThe P2P company has now raised nearly $54M in total financing
- KP faces huge loss with oil exploration company
Problems at Terralliance threaten investment of close to $300M by KP, Goldman, DAG, others
- peHUB Wire: Monday, April 6, 2009
Monday Mouth-Off
- peHUB Wire: Monday, April 6, 2009
Monday Mouth-Off
- peHUB Wire: Friday, April 3, 2009
Kleiner-Backed Terralliance Begins To Implode
- peHUB Wire: Friday, April 3, 2009
Kleiner-Backed Terralliance Begins To Implode
- Kleiner-Backed Terralliance Begins To Implode
Kleiner Perkins is on the verge of having a massive crater in its energy portfolio, but it has nothing to do with cleantech. Instead, the trouble involves Terralliance, a stealthy oil and gas exploration company that quietly raised $295 million in equity funding from KP and others. peHUB has learned that Terralliance has fired its founding CEO, laid off around 80% of its workers, closed offices and is desperately trying to renegotiate a massive debt-load. If it can't get the last piece done, then Terralliance might itself become a fossil fuel. "It's all about restructuring the debt, but the lender doesn't seem too eager to bail out the equity guys," says a source familiar with the situation. "[The lender's] feeling is, hey, the product works." That product is software that Terralliance says makes it easier and cheaper to locate oil and gas. The company then uses the software to do its own exploration, rather than simply selling it to third parties. Here is how Terralliance explained it, in a draft private placement memorandum dated April 2007:
- Kleiner Perkins Backs RedBrick Health
RedBrick Health, a Minneapolis-based provider of personal health financing and management solutions, has raised $15 million in Series C funding. Kleiner Perkins Caufield & Byers led the round, and was joined by return backers Highland Capital Partners, Versant Ventures and Fidelity Ventures. The company had previously raised $30 million.
- August Capital pulls in $650M for fifth fund
Menlo Park, Calif.-based firm will invest in early and growth stage investments.