EXCLUSIVE - Khosla loses two cleantech experts as partners

SAN FRANCISCO/NEW YORK Tue Aug 9, 2011 10:22pm IST

Vinod Khosla, founder of Khosla Ventures, smiles during the Fortune Brainstorm Green conference in Dana Point, California April 13, 2010.   REUTERS/Mario Anzuoni

Vinod Khosla, founder of Khosla Ventures, smiles during the Fortune Brainstorm Green conference in Dana Point, California April 13, 2010.

Credit: Reuters/Mario Anzuoni

Related Topics

SAN FRANCISCO/NEW YORK (Reuters) - Partners Jim Kim and Alex Kinnier will depart Khosla Ventures Aug. 15, leaving the firm short of two partners just months after it said it was raising a $1.05 billion fund.

Both specialized in renewable energy, a focus of Khosla Ventures, but one that has been slow to reap big returns.

Kinnier will start his own company, a move founding partner Vinod Khosla called "standard". It was unclear what Kim intends to do upon leaving the venture capital house, which has backed Jawbone-headset makers Aliph and biofuels company Kior.

"Junior folks join for three years typically and then start companies," he wrote to Reuters in an email. "We have our core set of five partners and though we don't preclude junior partners becoming senior partners, we expect the majority of them to leave to start companies."

Kinnier declined to comment, referring Reuters instead to Khosla, who said the former Google executive always intended to leave the venture capital outfit after a few years to start his company.

Kim did not respond to requests for a comment.

The departures leave the firm with seven partners, including Khosla, a co-founder of Oracle's Sun Microsystems. In May, Khosla Ventures filed to raise a $1.05 billion fund.

Khosla Ventures lost partner Gideon Yu earlier this year when he joined the San Francisco 49ers pro football team as chief strategy officer. His high-profile investments included Square, Twitter co-founder Jack Dorsey's payments company.

After that, the firm hired partner Ryan Kottenstette, who has a background in lithium-ion batteries.

"Hiring is always a continual process for us at the junior level," Khosla said.

Kinnier joined in 2008 from Google and Kim joined in 2009 from venture firm CMEA.

(Editing by Robert MacMillan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Mt Gox Update

Mt Gox Update

Mt Gox set to liquidate as court denies rehabilitation.  Full Article 

New Culture

New Culture

New CEO Nadella pushes data culture at Microsoft.  Full Article 

Upbeat on S5

Upbeat on S5

Samsung executive says Galaxy S5 to outsell S4, sees Q2 rollout for Tizen phone.  Full Article 

Mobile Safety

Mobile Safety

Smartphone makers, carriers embrace anti-theft initiative.  Full Article 

Bitcoin Saga

Bitcoin Saga

Defunct bitcoin exchange Mt. Gox files for liquidation - WSJ.  Full Article 

Yahoo Result

Yahoo Result

Yahoo's growth anemic as turnaround chugs along.  Full Article 

Tech Acquisition

Tech Acquisition

Twitter buys social data provider Gnip, stock soars.  Full Article 

Leave Steve Out

Leave Steve Out

Keep Steve Jobs' personality out of trial - tech companies.  Full Article 

Beating Estimate

Beating Estimate

Intel's first-quarter net profit falls but beats Street.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage