I received an offer to work for Kleiner Perkins as an executive assistant but I’m worried about the how the company will do without Mary Meeker. Will KP survive the split?


This post is by Jason Lemkin from SaaStr


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Yes. Don’t worry at all. Mary Meeker is iconic, and losing her is clearly a bummer on some/many levels. But times do change, and venture and the markets have changed dramatically in the past 5 years. However, there is 0% chance Kleiner won’t have a strong run for at least 15–20 years:
  • Mamoon Hamid is now running Kleiner and is relatively young, driven and has a very strong record, from Slack to Box and many other unicorns. He has also recruited other strong investors to join KPCB recently.
  • Venture funds last 10–13 years each — and LPs generally make 2–3 fund commitments to each set of managers. This new generation of leaders has just closed its first funds as managers at KPCB. This means 3 funds x 12 years each x 2.5 years gap between funds = 20 years of new LP commitment! That may be a slight but not a huge one. “Worst case”, the LPs (the folks that give VCs money) have given the current KPCB team a 20+ year commitment.
  • The recent KPCB funds were substantially oversubscribed. So, there clearly is plenty of capital that wants to back the ‘new’ KPCB.
The reality is, the synergies between the late-stage investing (Mary’s team) and the early-stage team weren’t huge in the real world. That meant keeping them together likely would create more conflicts and management overhead than it was worth. I assume a huge % of KPCB’s LPs/investors have invested in Mary Meeker’s new firm, so from an LP perspective, maybe not even that much has changed. View original question on quora The post I received an offer to work for Kleiner Perkins as an executive assistant but I’m worried about the how the company will do without Mary Meeker. Will KP survive the split? appeared first on SaaStr.

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