Khosla Ventures, a venture capital firm known for its early investment in OpenAI, is raising $3.5 billion across three funds, as reported by The Wall Street Journal. This target is 17% higher than the firm's previous $3 billion fund raised in 2023. Approximately half of the new capital will be allocated to its ninth core venture fund, while the remaining funds will be split between a $1.1 billion growth fund for later-stage startups and a $650 million seed-stage focused fund. Khosla Ventures declined to comment on this new fundraising effort. The firm, founded in 2004 by Vinod Khosla, co-founder of Sun Microsystems, has five managing directors, including Keith Rabois, who rejoined the firm after spending five years as a general partner at Founders Fund. During his first tenure at Khosla Ventures, Rabois was an early investor in notable companies such as DoorDash, Affirm, Stripe, and Faire. Khosla Ventures’ initial $50 million investment in OpenAI secured a 5% stake in the company’s profit arm, which is reportedly raising a $40 billion funding round at a $340 billion valuation. This move highlights the firm’s strategic focus on high-growth technology companies and its confidence in the potential of transformative technologies.