High-profile investor in addition to analyst Mary Meeker is actually starting her own investment fund.
Meeker, considered one of Silicon Valley’s most powerful female investors, announced on Friday she is actually leaving venture capital firm Kleiner Perkins — one of the oldest investment firms inside region. She served as partner for eight years.
Meeker features a reputation for backing well-known companies, such as Facebook (, Airbnb, Spotify, Slack, )Twitter ( in addition to Instacart. She’s also well-known for her annual “Internet Trends” report in which looks at the state of the industry. )
Meeker did not immediately respond to request for comment. Kleiner Perkins confirmed her departure to CNNMoney.
“We believe specialization in addition to focus is actually increasingly key,” Meeker told the Wall Street Journal. “This specific is actually not a mass-production business. We want to stay little in addition to lean in addition to we want to be truly focused.”
Three different Kleiner Perkins employees are also departing to join Meeker at her fresh venture, leaving no female general partners. Meanwhile, Beth Seidenberg, the firm’s leading biotech investment partner, stepped down by her day-to-day role at the firm in May.
In a statement, Kleiner Perkins said the change is actually part of an environmental shift in venture capital, in addition to the idea will continue to focus on early-stage investments.
“The environment for venture has evolved — with larger checks being written for seed in addition to A rounds in addition to more support by partners required to build companies — demanding a high degree of specialization in addition to extreme focus to excel,” the company said. “The improvements in both areas have led to less overlap between venture in addition to growth in addition to creating two separate firms with different people in addition to operations at This specific point makes sense.”
In 2015, Meeker defended the firm against gender discrimination when she took the witness stand during former colleague Ellen Pao’s trial against Kleiner Perkins.
Meeker said at the time she didn’t believe the firm was biased against women nevertheless did not work with Pao directly. Pao ultimately lost her case nevertheless became a key figure inside fight for diversity in addition to inclusion inside tech industry.
CNNMoney (fresh York) First published September 14, 2018: 1:25 PM ET