Venture

Mary Meeker’s New VC Firm Will Be Called Bond, Have Target of $1.25B

Some details of Mary Meeker’s new fund have emerged.

Meeker in September abruptly announced she was leaving Kleiner Perkins, a firm she helped lead. All we knew at that time was that the new firm would likely be a later-stage investment practice, the most lucrative segment of the venture market right now.

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Yesterday, Axios’s Dan Primack broke the news that Meeker and her growth equity team are calling the new firm Bond with a target of raising $1.25 billion with a $1.5 billion hard cap.

The news is particularly exciting because as TechCrunch’s Kate Clark notes, Meeker is now poised “to be the first woman to raise a $1 billion-plus VC fund.”

Meeker, who also became well-known for her internet trend reports, hasn’t been laying low since the September announcement. Just last month, we wrote about how she led a $250 million Series C round in payments infrastructure provider Plaid on behalf of Kleiner Perkins. The deal valued Plaid at $2.65 billion, post-money, according to various media reports,  and was reportedly her last as a partner with the firm before she begins raising funds for Bond.

Illustration: Li-Anne Dias

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