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Google puts Kleiner Perkins into the black

kleiner.gifIt's also now official that Kleiner Perkins Caufield & Byers, one of Silicon Valley's better known venture firms, has turned its hitherto money-losing ninth fund into a winner -- on the back of Google. That $460 million fund, which Kleiner Perkins started investing in 1999, had been trailing at a -21.2 percent internal rate of return, according to recent University of California data.

In a registration with the Securities & Exchange Commission Friday, Kleiner Perkins signaled it had distributed 5.78 million shares to its investors (known as limited partners, or LPs) at $172 per share. That's $994.2 million, enough to double investors' money. That distribution is just the beginning, because Kleiner had 21 million shares in Google to begin with. As for John Doerr, the Kleiner Perkins partner who sits on Google's board, he so far has taken personal ownership of at least 672,459 shares, according to the filing. We're not quite sure what this means, but it suggests Doerr has at least 1.7 million shares in total.



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