#VC Funds’ Hunt for Fresh Capital Continues Unabated

Venture capital groups are trying to raise larger sums at an even faster pace to plough into technology start-ups, despite the high-profile struggle of Uber and the near collapse of WeWork.

Kleiner Perkins, which provided early backing to Amazon and Google, is hoping to raise up to $700m this quarter, roughly one year after tapping investors for its previous fund, said two people familiar with the plans.

Other blue-chip companies including General Catalyst and Khosla Ventures are in the market for billion-dollar funds after previously raising money in 2018, investors said. 

The fundraising push follows a frenzied stretch for start-up investment, amplified by non-traditional backers such as the $100bn Vision Fund raised by Japan's SoftBank Group three years ago. 

Last week, London-based venture capital firm Atomico raised a new $820m venture fund, three years after its previous raise. It is the largest of its kind to be raised by a European venture firm, even after a record-breaking year for funds in the region last year. Atomico was founded by Niklas Zennstrom, who also co-founded Skype 

See the whole story on the FT here:  https://www.ft.com/content/338773ec-5440-11ea-90ad-25e377c0ee1f?desktop=true&segmentId=7c8f09b9-9b61-4fbb-9430-9208a9e233c8#myft:notification:daily-email:content

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