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Kleiner Perkins Becomes A Facebook Shareholder

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Kleiner Perkins, which has backed some of the biggest names in tech, including Amazon (NSDQ: AMZN), AOL (NYSE: AOL), and Google (NSDQ: GOOG), but never put any money into Facebook, is trying to cover some lost ground. The venture capital firm is buying $38 million in Facebook stock at a $52 billion valuation most likely from existing Facebook investors, according to a VentureWire report. That represents only a tiny fraction of Facebook’s shares and less than 5 percent of Kleiner Perkins’ new $750 million digital growth fund but nevertheless indicates the venture capital firm thinks the social network’s rapidly rising valuation isn’t unreasonable.

While Kleiner Perkins had held off on investing in Facebook until now, the two companies did collaborate last fall on the launch of a $250 million Kleiner Perkins-run fund dedicated to investing in social-related startups. Facebook is one of several tech companies that put cash into that fund. And Kleiner Perkins’ (arguably) most successful investment in recent years has been Zynga, which has derived its success from its games on the social network. We’ve reached out to Facebook for comment and will update if we hear back.