Mary Meeker Starts $1.25 Billion VC Fund After Leaving Kleiner Perkins

(Bloomberg) -- Mary Meeker, a longtime fixture of Silicon Valley with her annual presentations on internet trends, is starting a new $1.25 billion venture fund. The former Morgan Stanley analyst co-founded her own venture capital firm, Bond Capital, after parting ways with Kleiner Perkins in September.

The new fund, disclosed in a securities filing Wednesday, is more than double the size of one announced this year by Kleiner Perkins, where Meeker served as a partner for about eight years. News website Axios reported that Bond Capital has secured enough commitments to fill out the new fund. A spokeswoman for the VC firm declined to comment. 

During Meeker’s tenure at Kleiner Perkins, her team got a piece of some recent technology success stories, including two expected to go public in the coming months, Slack Technologies Inc. and Uber Technologies Inc. But after years of getting beat or arriving late to major deals, Kleiner Perkins is refocusing on investments in smaller companies. Meeker and the colleagues who left Kleiner Perkins with her, Noah Knauf and Mood Rowghani, will continuing managing the old funds while investing from their new one.

To contact the editor responsible for this story: Mark Milian at mmilian@bloomberg.net, Molly Schuetz

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