Venture capital firm Kleiner Perkins is reportedly raising $3.5 billion for artificial intelligence startups in the software, healthcare, transportation and autonomy sectors.

The firm will invest $1 billion in its 22 early-stage funds and will focus on finding AI startups in, while the remaining $2.5 billion will be invested in growth-stage companies and larger startups, Bloomberg reported .

Kleiner Perkins is an American venture capital firm headquartered in Menlo Park and has more than $21 billion in assets under management. 

The firm's portfolio includes major companies such as Google, Amazon, Figma ( FIG ), Glean, Harvey, Rippling, TogetherAI, OpenEvidence, Waymo, and Anthropic. 

Last year, Kleiner Perkins, along with investors Greylock Partners and Index Ventures, saw profits exceeding $1.4 billion from the IPO of software company Figma , the Information reported.

Other venture capital and private equity firms have been investing in artificial intelligence startups recently.

Josh Kushner’s venture capital firm Thrive Capital has raised more than $10 billion for a new fund, Thrive X, which will target investments in AI applications, infrastructure, robotics, and life sciences.

Meanwhile, venture capital firm General Catalyst is in discussions with investors to raise approximately $10 billion in new capital. The firm has made several investments in large companies such as artificial intelligence company Anthropic, fintech firm Stripe, defense and government surveillance company Anduril, and travel lodging company Airbnb.

Pitchbook recently reported that the potential public listings of SpaceX, OpenAI, and Anthropic in 2026 could be the most consequential liquidity events in venture capital history. With valuations of $1.25 trillion, $840 billion, and $330 billion, respectively, each would shatter the record for the largest U.S. VC-backed IPO ever—by an extraordinary margin, the report stated.

"After years of stalled exits, compressed multiples, and mounting LP pressure, the US venture market is starving for liquidity. More than $4 trillion in aggregate value sits locked in unicorns—and these three companies sit at the center of it," the report continued.

The exit value generated from those three companies would be higher than all of the exit values generated by U.S. venture capital-backed IPOs since 2000.