Menlo Park, CA-based venture capital firm Khosla Ventures has closed its latest main and seed fund, Fund VII and Seed E, at $1.4 billion.
The firm plans to use the new funds to continue investing in early and late-stage companies across such sectors as enterprise, consumer, health, sustainability, financial services, deep technology and AI.
This news follows hiring of new talent and strong returns on recent IPOs.
Khosla Ventures recently hired its first CMO, Shernaz Daver. This year, the firm also added several new partners in investing and operating roles. These include Kelly Kinnard as a talent partner, Bryan Gartner as an investing partner, and Adam Margolin and Robert Gould in the life sciences area.
In the last 12 months, seven companies have generated over $9 billion in returns for the fund. The most recent was GitLab which more than returned the fund. In GitLab, Khosla Ventures was the first outside board member and stayed with the company until the recent IPO. Khosla Ventures helped hire GitLab’s first CFO and CRO as well as their latest as they scaled to be worth $16 billion.
In addition to venture investing, the firm’s managing directors have sponsored multiple SPACs. Valo Health (KVSA) and Nextdoor (KVSB) are planning to de-SPAC in November.
FinSMEs
01/11/2021