Mamoon Hamid's Transformative Leadership at Kleiner Perkins

Mamoon Hamid joined the venture capital firm Kleiner Perkins in 2017, a decision that initially caused surprise in the industry given the firm's perceived challenges at the time. Hamid had a track record of success at Social Capital, leading investments in companies like Box and Slack.

A Storied History Facing Modern Challenges

Kleiner Perkins, founded in 1972, had a notable history with partners such as John Doerr, known for early investments in Google and Amazon. However, in the 2010s, the firm experienced internal difficulties, leadership transitions, and financial setbacks from cleantech investments, which led some limited partners to consider ceasing their investments.

Spearheading a Strategic Revitalization

Working with partner Ted Schlein, Hamid began a strategic initiative to revitalize the firm. He brought in Ilya Fushman, previously head of product at Dropbox, as a key partner.

Their efforts focused on transforming Kleiner's culture, implementing firm-wide offsites, an open office layout, and a defined mission to collaborate with founders as company builders.

The firm shifted its investment strategy to concentrate on early-stage deals. It also enhanced decision-making speed through the introduction of a new scout fund. Strategic hires, including Leigh Marie Braswell from Founders Fund in 2023, have strengthened the team, particularly in the artificial intelligence (AI) sector.

Significant Financial Recovery and Returns

Under Hamid's leadership, Kleiner Perkins has achieved significant financial recovery. Hamid's initial deal at the firm, leading Figma's Series B, resulted in an approximate 90x return following its 2023 IPO.

Since 2018, Kleiner Perkins has returned $13 billion to its limited partners from successful exits of companies such as AppDynamics, Beyond Meat, DoorDash, and Slack.

Future Focus: AI and Disciplined Growth

The firm has also made investments in notable AI companies including OpenEvidence, Harvey, Anthropic, and Safe Superintelligence. During the Hamid-Fushman era, Kleiner Perkins has raised over $6 billion in capital across multiple funds and is currently seeking additional capital. The firm's strategy involves maintaining a lean, focused, and disciplined approach to ensure high-quality engagement with founders and sustain competitiveness.