Kleiner Perkins Caufield & Byers ("KPCB") and Generation
Investment Management ("Generation") today announced a global
collaboration to find, fund and accelerate green business, technology
and policy solutions with the greatest potential to help solve the
current climate crisis. The partnership will provide funding and
global business-building expertise to a range of businesses, both
public and private, and to entrepreneurs. As a result of the
collaboration, the chairman and co-founder of Generation Investment
Management, former Vice President of the United States Al Gore, will
join KPCB as a Partner. KPCB will co-locate their European operations
at Generation´s offices in London. John Doerr, Partner at KPCB, will
join Generation´s Advisory Board.
Mr. Gore said, "This alliance brings together world-class business
talent to focus on solving the climate crisis. Together, we have a
working understanding of this urgent, multi-dimensional challenge and
are resolved to help business and government leaders accelerate the
development of sustainable solutions."
The KPCB and Generation alliance represents a landmark alignment
of resources to effect global change to protect the environment. It
combines the research expertise of both organizations with a track
record of successful investments in public and private companies, from
early stage to large capitalization business. It aligns the convening
power of Mr. Gore, the KPCB Greentech Innovation Network and the
Generation Advisory Board towards a common goal. In addition, KPCB´s
presence in Asia and the U.S., combined with Generation´s presence in
the U.S., Europe and Australia, will support global scale solutions.
"KPCB celebrates 35 years of fueling innovation this year," said
Mr. Doerr. "But today marks a turning point for climate entrepreneurs
around the world. Generation and our new Partner Al Gore will help
innovators and entrepreneurs accelerate their business, technology and
policy solutions for the most critical problem of our time."
KPCB will continue to invest in startup venture capital;
Generation will continue to invest in global public equities. The two
teams will collaborate on opportunities spanning sectors such as
renewable energy technologies, building efficiency, cleaner fossil
energy, sustainable agriculture and carbon markets.
Generation co-founder and Managing Partner David Blood said,
"There is a significant gap between the capital needed and the capital
currently deployed to create enduring solutions to the climate crisis.
To address this financing gap will require the efforts of many
players, including entrepreneurial ventures, multinational businesses,
governments, multilaterals and investors. The collaboration between
Generation and KPCB brings together unique capabilities and networks
to identify opportunities across this spectrum. We are thrilled to
work with such an excellent partner. Investing in scalable solutions
now is critical for the future of the planet."
Mr. Gore also announced that as part of the agreement between the
two firms, 100 percent of his salary as a Partner at KPCB will be
donated directly to the Alliance for Climate Protection -- the
non-partisan foundation he chairs that focuses on accelerating policy
solutions to the climate crisis.
For further information, please contact:
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For Generation Investment Management For KPCB
Richard Campbell Jennifer Graham
Capital MS&L Burson Marsteller
Tel: +44 (0) 20 7307 5334 Tel: +1 (415) 591-4016
Email: richard.campbell@capitalmsl.com Email: jennifer.graham@bm.com
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Notes to Editors:
About Generation Investment Management
Generation Investment Management LLP is dedicated to long-term
investing, integrated sustainability research, and client alignment.
It is an independent, private, owner-managed partnership established
in 2004 and with offices in London and Washington, D.C.
www.generationim.com
Generation aims to buy high quality companies at attractive prices
that will deliver superior long-term investment returns.
Sustainability research plays an important role in forming its views
on the quality of the business, the quality of management and
valuation. Its performance fees align its interests with that of its
clients by being based on long term performance.
The company is chaired by former Vice President of the United
States and Nobel Peace Prize Winner, Al Gore, whilst its Managing
Partner is David Blood, the former CEO of Goldman Sachs Asset
Management.
Generation Investment Management LLP is authorized and regulated
in the United Kingdom by the Financial Services Authority.
About KPCB, www.kpcb.com
Kleiner Perkins Caufield & Byers is leading the venture community
to invest in and accelerate Green technology solutions and policy
innovations. The firm has been active in Greentech initiatives since
1999. KPCB has committed more than $200 million to ventures across the
globe that offer green technology products and services, such as
better biofuels, renewable energy generation, cleaner transportation,
improved energy storage, and higher energy efficiency technologies.
More than half the firm´s investing professionals are involved in
Greentech investments. These include John Denniston, John Doerr,
Juliet Flint, Wen Hsieh, Bill Joy, Randy Komisar, Joe Lacob, Ray Lane,
Aileen Lee, Ajit Nazre, Ellen Pao, Ted Schlein, Trae Vassallo and
David Wells in the U.S., and Tina Ju, Forrest Zhong and Joe Zhou in
China. www.kpcb.com/greentech
Since its founding in 1972, KPCB has backed entrepreneurs in over
475 ventures, including AOL, Align Technology, Amazon.com, Citrix,
Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google,
IDEC Pharmaceuticals, Intuit, Juniper Networks, Netscape, Lotus, LSI
Logic, Sun Microsystems, Symantec, Verisign and Xilinx. More than 150
of the firm´s portfolio companies have gone public. Many other
ventures have achieved success through mergers and acquisitions.
The firm has offices in Menlo Park, California, Beijing, China and
Shanghai, China.