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AI NewsWith $3.5B in fresh capital, Kleiner Perkins is going all in on AI

With $3.5B in fresh capital, Kleiner Perkins is going all in on AI

9:22 AM IST · March 25, 2026

With $3.5B in fresh capital, Kleiner Perkins is going all in on AI

Kleiner Perkins, the prominent U.S. venture firm, announced on Tuesday that it raised $3.5 billion in fresh capital across two funds, a significant increase from the firm’s$2 billionfundraise less than two years ago. The firm, founded back in 1972, says it raised $1 billion for its 22nd early-stage venture fund, and $2.5 billion for a separate vehicle designed to fund late-stage growth businesses. The much larger capital haul is not a surprise. Over the last few years, Kleiner Perkins has managed to secure early stakes in a number of fast-growing AI startups, including Together AI, Harvey, and OpenEvidence. The firm is also an investor in Anthropic and SpaceX, two companies expected to IPO this year. At a time when exits are few and far between, Kleiner Perkins alsorealized significant returnsfrom last year’s IPO of Figma, a design software company whose $25 million Series B round it led in 2018. The firm alsoreportedly scoreda decent return when its portfolio company Windsurf was acqui-hired by Google last summer. A firm famous for its legendary early bets on Amazon and Google, Kleiner Perkins now operates with a lean team of just five partners. The firm has seen some leadership turnover recently: Ev Randle departed for rival firm Benchmark, while Annie Case has transitioned from partner to an advisory role, a Kleiner Perkins spokesperson confirmed. Kleiner Perkins joins a wave of mega-raises from other VC firms. Thrive Capital recently secured$10 billionin fresh commitments, while General Catalyst isreportedly targetinga similar amount. Meanwhile, anSEC filingconfirmsTechCrunch’s earlierreporting that Founders Fund has closed $6 billion for its fourth growth vehicle.

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The ‘Father of the Internet’ is finally retiring

The ‘Father of the Internet’ is finally retiring

Vinton Cerf will step down from his role as Google’s chief internet evangelist next week, marking the conclusion of one of the most influential careers in technology history. While speaking via video feed at theOpen Frontier conferencehosted by the Laude Institute, Cerf was recognized by Dave Patterson, the UC Berkeley professor best known for co-developing RISC processor architecture. “Vint … has been at Google more than 20 years, and he is retiring a week from today, and so I think we ought to give him a round of applause for a relatively good career,” Patterson said, to cheers from the room. Google did not respond to a request for comment by publication time. Cerf, 83, and collaborator Robert Kahn are credited as being the architects of the networking protocols that became the internet we know today. His work developing and popularizing TCP/IP — the basic set of rules that lets different computer networks talk to each other — beginning in the 1970s has been recognized with numerous honorary degrees, the Presidential Medal of Freedom, anda Turing Award, among other honors. Since 2005, Cerf has served as vice president and chief internet evangelist at Google. (At this point, we can safely say the internet is fully evangelized, for good or ill.) Cerf was speaking on a panel alongside other computer scientists known for their work on durable open source projects, including Patterson; François Chollet, creator of the Keras deep-learning library and co-founder of Ndea; John Ousterhout, the Stanford computer scientist behind the Tcl programming language, who also co-founded Electric Cloud; and Matei Zaharia, who is Databricks’ co-founder and chief technologist. They offered advice about what it takes to build open source systems that survive — advice that’s increasingly relevant as founders bet on open infrastructure for the next wave of AI products. Much of the conference’s discussion focused on the problems with the centralization of advanced models in a handful of well-resourced labs, in contrast to the decentralized world of the open internet that made Cerf’s own protocols so durable. However, Cerf predicted that the rise of AI agents — software that can act autonomously and coordinate with other software — would push tech companies back toward standardized protocols. “The agentic model of AI, with multiple agents from multiple sources interacting with each other, is going to force composability, and a requirement for interoperability and standardization,” Cerf said. If he’s right, the companies that define those interoperability standards early could end up with outsized influence over how the agentic economy actually works — a dynamic not unlike the early internet protocol wars. While other panelists speculated that natural language communication between LLM agents would be sufficient, Cerf predicted formal standards would be required. “I don’t think English is going to be the best choice. There’s a flexibility in it, but there’s ambiguity, and I think precision for interagent interaction is going to be very, very important. An agent really needs to be sure the other agent understands what it is that they just agreed to do together,” Cerf said. “Remember the old telephone game where you wish you’d whispered in somebody’s ear and then by the time it got to 10 people away the message was totally different? Imagine a bunch of agents talking to each other in natural language, you know, that’s kind of terrifying.” In a more lighthearted moment, Patterson recalled meeting Cerf, known for his wardrobe of three-piece suits, as a grad student in the 1970s. “He’s always been the best dressed computer scientist I’ve ever met,” Patterson said. “My memory of Vint is that he came as a grad student with a shirt and tie in the ’70s.” “It absolutely is true,” Cerf said. “I even had a vest, and for some reason I always wanted to stick out, and instead of having long hair, and something in my nose, I thought just dressing differently was one way to do it.”

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