Today, Khosla Ventures said it has raised more than $550 million for its first Opportunity Fund.
The newly oversubscribed fund brings Khosla’s total set of funds to just under $2 billion. Managing partner Samir Kaul told BestFitnessBands that the fund gives the company the ability to keep and double its pro-rata on past investments, including Impossible Foods, Faire, Checkr, OpenTrons and Vectra AI, which he says have already benefited from it. new fund.
“We like to invest in the whole life cycle and this allows us to do that,” he added. “Both our investors and CEOs have been asking us for a way to bet more money and lead later rounds as well.”
The new fund comes a few months after Khosla closed its Fund VII, raising $1.4 billion.
The Opportunity Fund is the latest trend in venture capital startups looking to participate in later rounds of their breakout portfolio companies as they mature. We’ve seen companies like Kaszek, Version One, Heartcore Capital, Chapter One, Costanoa Ventures and Sapphire Ventures announce similar funds in the past year.