KP re-raising multiple funds

Kleiner Perkins Caufield & Byers is taking steps to ensure an abundance of dry powder as it is concerned about the lack of liquidity options for current portfolio companies.

The venture firm is currently raising annex funds for its 11th and 12th funds to have cash on hand in case it needs additional follow-on capital. Kleiner Perkins had raised $400 million for fund XI, which closed in 2004, and $600 million for fund XII, which closed in 2006.

It also has reopened fund-raising for a pair of funds initially closed last year: The $700 million fund XIII and the $500 million Green Growth fund. Moreover, the Green Growth fund is now open to limited partners that have not previously invested with Kleiner Perkins.

Kleiner Perkins hasn’t responded to a request for comment. Sources say that that most of the annex fund-raising is expected to wrap up soon. —Dan Primack