Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC, sources told Reuters.Hsieh is in advanced talks to raise $200 million from limited partners including Kleiner Perkins and TSMC for
Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC, sources told Reuters.
A Kleiner Perkins spokesperson confirmed Hsieh's departure and the firm's participation in the fund. TSMC did not respond to a request for comment. Hsieh, with two PhDs from the California Institute of Technology, has worked at Kleiner Perkins for 17 years, leading investments in Chinese drone maker DJI and 3D printing company Desktop Metal . He will remain on the boards of companies he invested in at Kleiner Perkins, including orthodontic brackets maker LightForce.
A storied Silicon Valley name, Kleiner Perkins has been going through a generational transition since its longtime leader John Doerr moved into the chairman role in 2016. Mamoon Hamid and Ilya Fushman, two relatively recent additions to the firm's general partners ranks, have taken the helm and led investments in startups including Figma and Rippling.
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