Vinod Khosla founded Khosla Ventures raises $1 Billion

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Bangalore: Focusing on investments for clean technology, Vinod Khosla has raised $1 billion for two new funds - Khosla Ventures III and Khosla ventures Seed. Khosla Ventures III will have $750 million to focus on more developed companies. The Seed fund will have $250 million and will focus mostly on experimental startups. Founded in 2004 by Khosla, the Menlo Park, California-based Khosla Ventures is among the most active early stage investors in renewables and other alternative energy technologies. The National Venture Capital Association said that Khosla's fund has amassed more capital in the green technology than any other venture capital firm since 2007. "Things that are too much in fashion are things that I would shy away from. Whatever the press calls hot are areas that I'm less interested in," said Khosla. He also said that Khosla Ventures will fund start-ups that focus on clean energy, sustainability and information technology. It will make investments of up to $15 million from its main $800 million fund and offer seed money of about $2 million to early-stage ideas from its smaller $275 million fund. Khosla Ventures' many clean technology investments include solar thermal company Ausra, geothermal company AltaRock and biofuels makers Mascoma, Coskata, Range Fuels and Verenium. In addition to raising a billion dollar fund, Khosla Ventures also brought in two new partners - Gideon Yu, the Former CFO at Facebook and YouTube, and James Kim, who ran the clean-tech investing at CMEA Capital and GE Capital.

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