Mary Meeker is leaving Kleiner Perkins to start her own fund

Mary Meeker is leaving Kleiner Perkins after nearly eight years at the firm.KPCB

• Famed venture capitalist Mary Meeker is leaving Kleiner Perkins to start her own firm.
• Meeker is renowned in the tech world. She grew in prominence during her 19 years as an analyst at Morgan Stanley, and is one of Silicon Valley’s top investors.
• But she reportedly disagreed with others at Kleiner Perkins over its investment strategy — as well as less material issues like where to hold the annual office Christmas party. 
• Three of her colleagues are leaving with her.

Mary Meeker, a venture capitalist renowned in Silicon Valley, is leaving Kleiner Perkins to start her own fund — and she’s taking three other colleagues with her.

Meeker, whose portfolio includes late-stage investments in tech industry heavy weights like Airbnb, Slack, and Stripe, is leaving primarily over differing opinions on the type of deals she wants to do, according to a Friday report in Recode.

Mood Rowghani, Noah Knauf, and Juliet de Baubigny are also leaving the company to pursue these late-stage deals.

But there was other drama within the firm, including squabbles over questions like whether to hold an annual Christmas party in San Francisco or closer to the firm’s office in Menlo Park, according to Recode.

“The environment for venture has evolved — with larger checks being written for seed and A rounds and more support from partners required to build companies — demanding a high degree of specialization and extreme focus to excel,” a spokesperson for Kleiner Perkins told Business Insider in a statement. “The changes in both areas have led to less overlap between venture and growth and creating two separate firms with different people and operations now makes sense.”

Meeker grew in prominence during her 19-year stint as an analyst at Morgan Stanley. In her nearly eight years at Kleiner Perkins, nine of the companies she’s invested in have gone public and three have been acquired by major players.

Her annual Internet Trends Report, now in its 23rd year, sets the agenda for investors across the tech industry. This year’s delves into data and personalization, e-commerce innovation, and China’s rising intensity and leadership in internet-related markets. You can read the full report below. 

Melia Robinson contributed reporting on a previous version of this article. 

Mary Meeker’s Internet Trends 2018 report: