Venture fund · from SEC filings

KPCB Digital Growth Fund II, LLC

Kleiner Perkins · adviser of record: Kleiner Perkins Caufield & Byers, LLC · 2014 vintage

KPCB Digital Growth Fund II, LLC is a 2014 venture fund managed by Kleiner Perkins, with $750mm raised (Form D, amount sold). It reported $1.04bn in gross assets at year-end 2025, 1.38x its size, against a peak of $2bn in 2020.

Latest value held: $1.04bn year-end 2025
Peak: $2bn year-end 2020
Fund size: $750mm Form D, amount sold
Held vs. size: 1.38x peak 2.68x

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	$1.04bn	1.38x	+59% over 2 yrs
2023	$653mm	0.87x	-8%
2022	$706mm	0.94x	-58%
2021	$1.7bn	2.26x	-15%
2020	$2bn	2.68x	+105%
2019	$981mm	1.31x	+8%
2018	$907mm	1.21x	+9%
2017	$832mm	1.11x	+6%
2016	$785mm	1.05x	-1%
2015	$795mm	1.06x	-1%
2014	$805mm	1.07x	–

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 805-7954516043. Data updated October 13, 2026.

Is this your fund?

Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.