Kleiner Perkins, a prominent U.S. venture firm, has raised $3.5 billion in fresh capital across two funds, a significant increase from the previous year's $2 billion. The firm, founded in 1972, raised funds for its 22nd early-stage venture fund and $2.5bn for a separate vehicle for late-stage growth businesses. The larger amount of capital is not surprising as it has been used to secure early stakes in several fast-growing AI startups. The company, known for its early investments in Amazon and Google, now operates with a small team of five partners.