Commenting on the KPCB XIII, "Disruptive innovation is essential to solving today’s crucial challenges in energy, healthcare and communications, and we’re seeing compelling ventures across greentech, life sciences and information technology, especially with the launch of our iFund,” said KPCB partner John Doerr. “For 35 years, we’ve viewed entrepreneurs as the catalysts for tremendous opportunities in society and business, and we look forward to continuing to work with them to bring their breakthroughs to market.”

The Green Growth Fund is an extension of KPCB’s investment efforts, which historically have focused on startups. Current and new partners working on the Green Growth Fund will now offer the firm’s company-building expertise to companies that have moved beyond their initial stage.

“We urgently need to advance our greentech industry at a speed and scale commensurate with the challenges we face,” continued Mr. Doerr. “We believe green technologies are both the key to solving our energy crisis and a tremendous business opportunity.”

Green businesses are already booming in the United States and overseas, as environmental concerns and skyrocketing fossil fuel prices stimulate demand for renewable energy alternatives. At the same time, recent breakthroughs in a wide variety of scientific disciplines – biology, chemistry, and physics – are making revolutionary green technologies possible and affordable.

“The world has embarked on the next industrial revolution,” KPCB Partner John Denniston commented. “The growing sense of global urgency over our twin energy crises – climate change and energy security – is now driving businesses to become green, consumers to demand green, and policymakers to drive policies to accelerate the market adoption of green products.” Denniston will co-manage the new fund with Ben Kortlang, who previously co-directed alternative energy investments at Goldman Sachs. KPCB will also add new members to its Green Growth Fund team in the coming year.

Kortlang predicted the close relationship between the KPCB venture and growth teams will be an asset to portfolio companies of both KPCB XIII and the Green Growth Fund. “The venture and growth partners will work together as one team, in one office,” he said. “There’ll be many synergies: partners dealing with the more mature companies can contribute expertise with market dynamics, financing and regulation, while those involved with startups can offer cutting-edge technology insight and policy leadership. The common denominator in both funds will be exceptional company-building skills.”

KPCB XII partner, Ray Lane added, “We have come to a turning point and now, more than ever before, the world is ready and willing to tackle our energy and environmental problems, as individuals, corporations and governments. The entrepreneurs we support are the starting point to address these challenges, and we’re proud to help them transform their innovations into marketable solutions for our global climate crisis.”