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Venture-capital firm Kleiner Perkins Caufield & Byers has closed two new funds at a combined $1.4 billion.

The firm will invest out of separate funds for early- and late-stage investments, in keeping with its longstanding practice. The new funds include KPCB XVII, a $400 million fund for early-stage investments, and a $1 billion Digital Growth Fund for later-stage deals.

The two funds mark the first in a new leadership era for the 44-year-old venture-capital firm. John Doerr, the firm's longtime frontman who made early bets on Google Inc. and Amazon.com Inc., shifted from his managerial role to that of firm chairman. Randy Komisar, another longtime Kleiner Perkins partner, will serve as an adviser on the funds, rather than an investor. The firm had been reported out fundraising with LPs earlier this year.

The early-stage fund's general partners are Beth Seidenberg, Ted Schlein, Mike Abbott, Eric Feng and Wen Hsieh, according to regulatory filings. The Digital Growth Fund will be managed by Mr. Schlein, Mary Meeker, Mood Rowghani and Noah Knauf. Mr. Knauf, a longtime managing director at private-equity firm Warburg Pincus, joined Kleiner Perkins earlier this month.

The new funds are the first the firm has raised after it weathered a highly public gender discrimination trial last year involving a complaint from one of its former partners. A San Francisco jury found in Kleiner Perkins' favor on all counts. Last year, the firm started KPCB Edge, a seed fund led by three partners in their 20s who are trying to connect Kleiner with young tech startups.

Deborah Gage contributed to this article.

Write to Patience Haggin at patience.haggin@wsj.com

(END) Dow Jones Newswires

June 29, 2016 19:45 ET (23:45 GMT)

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