VCs pursue new thrills

April 21, 2008

thinkcity_003.jpgAre Silicon Valley’s best-known venture capitalists tired of funding startups?

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’ 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.

One comment so far | RSS Comments RSS

Hi Anupreeta,
How does one get a hold of you these days? Have a news idea for you………

Posted by Dass | Report as abusive

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