Kleiner Perkins Caufield & Byers (KPCB) is a venture capital firm in Silicon Valley, USA. The Washington Post and other media refer to it as "the largest venture capital firm". The New York Times' Dealbook calls it "one of the top venture capital firms in Silicon Valley." By 2019, KPCB had raised about $9 billion in 19 venture capital funds and four growth funds. KPCB is headquartered in Menlo Park, Silicon Valley. In September 2018, KPCB announced that it was splitting its digital growth team into a new, independent company. The firm announced its 19th fund on 31 January 2019 after raising $600 million. The fund focuses on early-stage investments in the "consumer, enterprise, hard technology and fintech" sectors. The firm raised USD 600 million for its 18th fund, KP XVIII, in January 2019.