Venture Capital

The San Francisco trial pitting Kleiner Perkins Caufield & Byers, one of Silicon Valley’s oldest and most venerable venture capital firms, against Ellen Pao, a former junior partner who claims that she faced sexual harassment and discrimination, has forced an institution that prefers to remain private into the public gaze. Among other things, it has raised questions about how well John Doerr, its de facto leader, knows his own firm.

John Gapper

It feels as if Wall Street is moving westward, and that US investors, having been caught up in the mortgage boom, have instead turned their attention to the opportunities on the west coast.

The National Venture Capital Association has unveiled figures showing that the industry had its best start to the year in terms of fund-raising since 2001, raising about $7.1bn in the first quarter.

Meanwhile, Matthew Garrahan writes in the FT about the keiretsu-like Raine merchant bank, which is raising $500m from a range of Illuminati from Silicon Valley and Hollywood including Eric Schmidt of Google and Sean Parker of Facebook etc. Read more