Khosla Ventures, recognized for its early investments in OpenAI, is in the process of raising $3.5 billion spread across three funds, according to a report by The Wall Street Journal. This fundraising target exceeds the firm’s previous 2023 endeavor by 17%, which amounted to $3 billion.
Around half of the new capital will be directed towards the firm’s ninth core venture fund. The rest will be distributed between a $1.1 billion growth fund aimed at later-stage startups and a $650 million fund focused on seed-stage investments.
Khosla Ventures did not provide a comment on the recent fundraising initiative.
Established in 2004 by Sun Microsystems co-founder Vinod Khosla, Khosla Ventures has five managing directors, including Keith Rabois. Rabois, who rejoined the firm after a five-year tenure as a general partner at Founders Fund, was instrumental as an early investor in companies such as DoorDash, Affirm, Stripe, and Faire during his initial period at Khosla Ventures.
The firm’s original $50 million investment in OpenAI secured a 5% stake in the profit-oriented arm of the company, which is reportedly in discussions to secure a $40 billion funding round with a valuation of $340 billion.
