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 to far-right Proud Boys: "Stand back and stand by"

Asked to condemn white supremacist violence at the first presidential debate on Tuesday, President Trump said the far-right Proud Boys group should "stand back and stand by," before immediately arguing that violence in the U.S. "is not a right wing problem. This is left wing."

Why it matters: Trump has repeatedly been accused of failing to condemn white nationalism and right-wing violence, despite the FBI's assessment that it's the most significant domestic terrorism threat that the country faces. The president has frequently associated Antifa and the left-wing violence that has afflicted some U.S. cities with Biden, despite his condemnation of violent protests.

Mike Allen, author of AM
6 mins ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?

Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10:30 p.m. ET: 33,516,946 — Total deaths: 1,005,394 — Total recoveries: 23,273,369Map.
  2. U.S.: Total confirmed cases as of 10:30 p.m ET: 7,188,543 — Total deaths: 205,966 — Total recoveries: 2,809,674 — Total tests: 103,155,189Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility
  5. States: NYC's coronavirus positivity rate spikes to highest since June.
  6. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  7. World: U.K. beats previous record for new coronavirus cases.
  8. Work: United States of burnout — Asian American unemployment spikes amid pandemic