Former Kleiner Perkins partner Mary Meeker is raising more than $US1 billion for her new venture capital fund.

First reported by Axios last week, the new firm will be called Bond and is seeking to raise $US1.25 billion with a $US1.5 billion hard cap for its first fund.

In September Kleiner Perkins Caufield & Byers announced it was spinning off its digital growth fund team as an independent firm, led by Meeker. General partners Mood Rowghani, Noah Knauf, and Juliet de Baubigny also left the firm to establish Bond.

The high profile investor first joined Kleiner Perkins in 2010 after a career as a tech analyst on Wall Street. She is well known for her annual State of the Internet reports.

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