Kleiner Perkins announces line-up changes

The Silicon Valley veteran says several partners will spend more time ‘with family.’

Responding to what it called ‘inaccuracies appearing in the media,’ Menlo Park, California venture capital firm Kleiner Perkins Caufield & Byers yesterday issued a statement clarifying recent personnel changes.

 

According to the firm, four of the firm’s six second-tier partners will ‘spend more time with family and on personal causes.’

 

The partners named in this regard are Kevin Compton, William Hearst, Vinod Khosla and Doug Mackenzie. The four will still ‘work exclusively with the new KPCB fund on technology investing,’ the statement said.

 

One partner, Tom Jermoluk, has ‘elected to leave the firm to return to an operating role,’ the statement said.

 

The statement noted that the firm had six managing partners and six partners.

 

The firm also commented on its eleventh fund, saying it had reached a first closing. The statement said the vehicle ‘is a $400 million fund.’

 

Last year, Kleiner Perkins co-founder Eugene Perkins passed away aged 80.