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Kleiner Investing Earlier in Startups as Competition Increases

Venture capital firm Kleiner Perkins Caufield & Byers has created a fund to invest in early-stage startups as later funding rounds have become increasingly competitive.

The new seed fund, called KPCB Edge, is a disconnect from the firm’s typical strategy: investing in the likes of Snapchat Inc. and Uber Technologies Inc. in later series rounds after the companies have proved to be viable businesses.