EXCLUSIVE - Vinod Khosla loses two cleantech experts as partners

SAN FRANCISCO/NEW YORK Tue Aug 9, 2011 10:19pm IST

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

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

Credit: Reuters/Mario Anzuoni/Files

Related News

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:

Politics

REUTERS SHOWCASE

Exit Polls

Exit Polls

BJP unlikely to form Jammu & Kashmir govt - polls.  Full Article 

Forceful Conversions

Forceful Conversions

BJP distances itself from religious conversions.  Full Article 

Photo

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Economic Pulse

Economic Pulse

Crank up public spending to revive growth - chief economic adviser.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

Down Under

Down Under

Magic Johnson inspires Australia to second test win.  Full Article 

Going International

Going International

Bollywood’s Priyanka Chopra sets sights on American TV.  Full Article 

India This Week

India This Week

Some of our best photos from this week.   Full Coverage 

Reuters India Mobile

Reuters India Mobile

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