Khosla Ventures

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Khosla Ventures
TypePrivate
IndustryVenture capital
Founded2004; 18 years ago (2004)
FounderVinod Khosla
HeadquartersMenlo Park, California, U.S.
ProductsInvestments
Total assets$15 billion (October 2021)
Websitekhoslaventures.com

Khosla Ventures is an American venture capital firm founded by Vinod Khosla, focused on early-stage companies in the Internet, computing, mobile, silicon technology, biotechnology, healthcare and clean technology sectors.[1][2]

The firm is based in Menlo Park, California, and manages investor capital as well as earlier funds funded by Khosla. As of October 2021, Khosla Ventures has $15 billion in assets under management.[3]

History[edit]

The firm was founded in 2004 by Vinod Khosla, a former general partner of Kleiner Perkins.[4] The firm's first two investment vehicles were funded with Khosla's own personal capital and were not open to institutional investors. In March 2009, Pierre Lamond became General Partner.[5] In December 2009, Khosla completed fundraising for two new funds, to invest in cleantech and information technology start-ups.

Khosla Ventures Fund III secured $1 billion of investor commitments to invest in traditional early stage and growth stage companies. Khosla also raised $300 million for Khosla Seed, which will invest in higher-risk opportunities and science experiments.[6] The firm has invested in bio-refineries for energy and bioplastics, solar, wind, battery, engines, LED, HVAC efficiency and other environmentally friendly technologies.[7][8]

Some companies funded by Khosla Ventures include: Academia.edu, Amyris, Bloom Energy, Plastiq Inc.,[9] Cosaint Technologies,[citation needed] DB Networks, EcoMotors, GreatPoint Energy, Impossible Foods, Instacart, LS9 Inc.,[10] Neverware, Panzura, SeaMicro, Snip.it, Tapingo, Thync, Relcy,[11][12] and Vectra Networks Inc.[13]

Its investments also include AliveCor,[14] AltaRock Energy,[15] Amyris,[16] AppNexus,[17] Ayasdi,[18] Big Switch Networks,[19] Blockstream,[20] Boku,[21] Boosted,[22] Bridge International Academies,[23] Cadre,[24] Climate Corporation,[25] Cylance,[25] DoorDash[26] and Flow Neuroscience.[27]

As of October 2015, Khosla Ventures was one of the five largest and most active investors in the space sector, which has had over US$10 billion of private capital invested in it since 2005.[28]

In September 2017, Khosla Ventures had about $5 billion in assets under management.[29]

In February 2021, Khosla Ventures filed plans for the public offerings of three special-purpose acquisition companies (SPAC), which intend to raise a total of $1.2 billion for the purpose of acquiring and taking public three private companies.[30]

Affirm, a financial technology company, raised $1.2 billion in its initial public offering, which was the largest U.S. filing of the year to date. The firm was its first venture capital investor.[31] In October 2021, Khosla Ventures announced that it had raised $1.4 billion in funding to invest in early-to-late stage startups breaking down to $400 million for seed deals and $1 billion for later-stage companies.[32] Through a Khosla-backed SPAC, Nextdoor began trading under the ticker KIND in November 2021 with a $4.3 valuation by Khosla Ventures.[33]

Khosla Labs[edit]

Khosla Labs is an investment and business-incubation firm founded by Vinod Khosla. In 2013, Khosla said that he started the company to explore the opportunities around Aadhar, the recently-implemented unique identity number system for residents of India. Khosla Labs has an Aadhaar-enabled authentication and verification product, called Aadhaar Bridge, and is licensed by the Unique Identification Authority of India (UIDAI) (which collects the data for the system) to use the demographic data of Aadhar holders. The company played an important role in the 'Coalition for Aadhar' by petitioning the Indian Supreme Court in 2018. There has been criticism around the private sector- UIDAI connections, and Khosla Lab has been used an example. The company has had many executives who were previously part of UIDAI. Khosla Labs has given a loan of 21 lakh to an NGO called eGovernments Foundation, of which Nandan Nilekani himself was a founder. Besides Nilekani, Sanjay Jain, the chief product manager for the UIDAI from 2010 to 2012 then went on to be an entrepreneur at Khosla Labs. Similarly, Vivek Raghavan was a biometrics volunteer with UIDAI from 2010 to 2013, and he was a director of Khosla Labs until 2016.[34]

References[edit]

  1. ^ Lacy, Sarah (July 3, 2009). "Vinod Khosla, Risk Junkie". TechCrunch.
  2. ^ "Bloomberg Businessweek Profile". Businessweek.com.
  3. ^ Cheng, Candy. "Khosla Ventures has raised a new $1.4 billion fund to back startup winners like DoorDash, Stripe, and Square". Archived from the original on October 26, 2021.
  4. ^ "Khosla Ventures Founder Vinod Khosla Joins Slush 2017 - Slush 2017". Slush 2017. 2017-11-28. Retrieved 2018-01-07.
  5. ^ Marshall, Matt (3 March 2009). "Pierre Lamond, the VC who scared the YouTube guys, joins Khosla". VentureBeat. Retrieved 8 January 2011.
  6. ^ Khosla Ventures piles up $1 billion for green tech. cnet news, September 1, 2009
  7. ^ Venture Firm’s ‘Green’ Funds Top $1 Billion. New York Times, August 31, 2009
  8. ^ Wauters, Robin (May 19, 2011). "Khosla Ventures Is Raising, Like, A Billion Dollars". TechCrunch.
  9. ^ "Ditch your checkbook: Plastiq nabs $10M so that you can pay for anything with a credit card". VentureBeat. 2014-07-15. Retrieved 2019-06-10.
  10. ^ "Archived copy". www.ls9.com. Archived from the original on 18 March 2013. Retrieved 12 January 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  11. ^ "Relcy Is Building A PageRank-Style Mobile App Search Engine With $9M From Khosla And Sequoia". TechCrunch. 17 July 2014.
  12. ^ Darrell, Larry (9 October 2014). "Thync Raises $13 Million In Funding Led By Khosla Ventures; Combines Neuroscience And Consumer Tech". Bidnessetc. Archived from the original on 16 February 2015. Retrieved 3 November 2014.
  13. ^ "Vectra raises $36 million for its AI cybersecurity technology". 2018-02-21. Retrieved 2018-04-16.
  14. ^ Farr, Christina (24 July 2019). "Health-tech start-up AliveCor poaches an Amazon director to be its new CEO". CNBC.
  15. ^ "Khosla Ventures Investments". golden.com. Retrieved 2019-04-29.
  16. ^ Marshall, Matt (12 October 2006). "Amyris gets $20M from high-profile investors to find alternative fuel". VentureBeat.
  17. ^ Grant, Rebecca (24 January 2013). "Don't mess with AppNexus: Ad tech company puts $75M in its holster". Reuters.
  18. ^ Empson, Rip (16 January 2013). "DARPA-Backed Ayasdi Launches With $10M From Khosla, Floodgate To Uncover The Hidden Value In Big Data". TechCrunch.
  19. ^ "Big Switch Networks Seals $13.75M". April 25, 2011.
  20. ^ del Castillo, Michael (17 December 2018). "Who Needs Verizon? Blockstream Broadcasts Entire Bitcoin Blockchain From Space". Forbes.
  21. ^ Mannes, John (1 September 2016). "Boku locks down another $13.75M to fund carrier connections for global expansion". TechCrunch.
  22. ^ Weinberg, Cory (15 March 2021). "Khosla's Lawsuit Against Lime Shows Ugly Side of Aborted Acqui-Hires". The Information.
  23. ^ "Slum schools' investors in Sh5bn expansion bid". Business Daily. 2013-11-07. Retrieved 2019-05-09.
  24. ^ Loizos, Connie (6 June 2017). "Cadre collects $65 million in Series C funding". TechCrunch.
  25. ^ a b Shieber, Jonathan (14 October 2020). "Khosla Ventures seeks $1.1 billion for its latest fund". TechCrunch.
  26. ^ "BRIEF-DoorDash raised $127 million in series C round of financing -..." Reuters. 2016-03-22. Retrieved 2019-06-27.
  27. ^ Kennedy, Jack (11 August 2021). "Swedish medtech start-up Flow Neuroscience raises $9m". Silicon Republic.
  28. ^ Nordrum, Amy (2015-10-09). "Space Advocate Makes Business Case For Private Company Exploration Of Extraterrestrial Resources". International Business Times. Retrieved 2015-10-10.
  29. ^ Kolodny, Lora (2017-09-07). "Khosla Ventures adds women to investment team — Simmons and Gulati". www.cnbc.com. Retrieved 2018-12-18.
  30. ^ Schubarth, Cromwell (13 February 2021). "Khosla Ventures gets into the SPAC boom with plans to raise $1.2B in 3 IPOs". Silicon Valley Business Journal. Retrieved 9 March 2021.
  31. ^ "Affirm Holdings prices U.S. IPO above target range, raises $1.2 billion". Reuters. 12 January 2021.
  32. ^ Cheng, Candy (26 October 2021). "Khosla Ventures has raised a new $1.4 billion fund to back startup winners like DoorDash, Stripe, and Square". Business Insider.
  33. ^ Bobrowsky, Meghan (8 November 2021). "Nextdoor Surges in Trading Debut". Wall Street Journal.
  34. ^ Thaker, Aria. "Aadhaar's mixing of public risk and private profit". The Caravan. Retrieved 2019-07-22.

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