Kleiner Perkins Caufield & Byers has restructured the way it invests in early stage companies, cutting its investment committee to just five partners, according to a memo sent to Kleiner’s limited partners that was seen by VentureWire.
The change applies to the current Fund XV–which closed in May, 2012, at $525 million–and any future early stage investing. The firm’s growth funds and growth stage investments are not affected.
