Venture fund · from SEC filings

Kleiner Perkins Caufield & Byers XVIII, LLC

Kleiner Perkins · adviser of record: Kleiner Perkins Caufield & Byers, LLC · 2018 vintage

Kleiner Perkins Caufield & Byers XVIII, LLC is a 2018 venture fund managed by Kleiner Perkins, with $600mm raised (Form D, amount sold). It reported $2.9bn in gross assets at year-end 2025, 4.80x its size, its highest reported value.

Latest value held: $2.9bn year-end 2025
Peak: $2.9bn year-end 2025
Fund size: $600mm Form D, amount sold
Held vs. size: 4.80x peak 4.80x

Value held by year-end

Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker

Year-end	Gross assets	÷ size	Change
2025	$2.9bn	4.80x	+36% over 2 yrs
2023	$2.1bn	3.54x	+6%
2022	$2bn	3.34x	+1%
2021	$1.99bn	3.31x	+158%
2020	$769mm	1.28x	+22%
2019	$632mm	1.05x	+5%
2018	$600mm	1.00x	–

Other funds from Kleiner Perkins

All Kleiner Perkins funds

About these numbers

Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-3187978995. Data updated October 13, 2026.

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