Kleiner Perkins in Menlo Park, California. Photo: Smith Collection/Gado/Getty Images

Kleiner Perkins’ green tech investors are back in business, this time with a spin out fund named G2VP. According to a SEC filing, it has closed nearly $300 million, which it began raising last year.

The backstory: A decade ago, Kleiner Perkins made a lot of headlines for the disappointing results of its enthusiastic clean-tech investing.

  • Since then, its core funds have kept away from the sector, but in 2008 it raised a separate Green Growth fund to focus on later-stage investing in the area, which has done fairly well, as one green tech investor described to Axios.
  • Still, it’s not surprising that the firm is spinning out this second fund into a separate brand to truly distance itself from the sector.

Green trend: G2VP says it’s backing startups that are “digitizing industry” rather than focusing on cleantech like renewable energy, as it used to be trendy. Other veteran investors in the sector are also taking these alternative approaches to investing in green tech.

Update: The firm tells Axios that this isn't the final size of its fund, merely an update.

Go deeper

Trump commutes Roger Stone's sentence

Roger Stone arriving at his sentencing hearing on Feb. 20. Photo: Drew Angerer/Getty Images

President Trump on Friday evening commuted the sentence of his longtime associate Roger Stone, according to two senior administration officials. Stone in February was sentenced to 40 months in prison for crimes including obstruction, witness tampering and making false statements to Congress.

Why it matters: The controversial move brings an abrupt end to the possibility of Stone spending time behind bars. He had been scheduled to report to prison on July 14.

Updated 6 hours ago - Health

Which states have set single-day coronavirus records this week

Data: COVID Tracking Project and state health department data compiled by Axios; Map: Danielle Alberti and Naema Ahmed/Axios

13 states this week surpassed records set just last week for their highest number of coronavirus infections in a single day, according to the COVID Tracking Project and state health department data. 16 states in total reported new highs.

The big picture: The United States' alarming rise in coronavirus cases isn't just due to increased testing — particularly where the number of cases has grown fastest over the last month, Axios' Andrew Witherspoon and Caitlin Owens report.

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 12,389,660 — Total deaths: 557,279 — Total recoveries — 6,830,596Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 3,169,611 — Total deaths: 133,885 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
  3. Public health: The reality of the coronavirus bites.
  4. Trade: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship.
  5. 🎧 Podcast: Rural America has its own coronavirus problem.