How tight is it out there for venture capital firms? Tight enough that even uber-VC Kleiner Perkins is looking to add more cash to its coffers to back its investments.
PeHub: The landmark VC firm is currently raising annex funds for its eleventh (2004) and twelfth funds (2006), in order to have cash on hand in case it needs additional follow-on capital. It also has reopened fundraising for a pair of funds initially closed last year: The $700 million Fund XIII and the $500 million Green Growth fund. Moreover, the Green Growth fund is now open to limited partners that have not previously invested with Kleiner Perkins, which is a pretty big deal from a legacy access perspective.
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