VCs pursue new thrills
Kleiner Perkins just announced a joint venture with another cleantech-focused VC and a Norwegian car company to sell electric cars in the U.S. market. It’s a 25-25-50 partnership, with each VC owning a 25 percent stake in the newly formed company.
And just a few days ago, Thomson Reuters’ pehub.com reported that Sequoia, arguably the Valley’s most illustrious VC, may raise a $750 million hedge fund.
That may partly explain why VC investments in startups fell 5 percent in the first quarter from the year-ago period. Where are the Googles and Amazons and Yahoos that set the pulse of many a VC racing, once upon a time?
Photo: The Think City, the first car the Kleiner JV will sell in the U.S.