Kleiner Perkins launching Fund XIII

The 13th fund is separate from its green growth vehicle

Kleiner Perkins Caufield & Byers may be running out of money. The firm registered a 13th investment fund in the state of Delaware in February and is likely fund-raising for that vehicle now.

Details of the fund size were not immediately available and a spokesperson for Menlo Park, Calif.-based Kleiner Perkins said the venture firm had no comment.

Kleiner Perkins Caufield & Byers XIII is distinct from the KPCB Green Growth Fund, an expansion stage fund the firm is currently raising. PE Week reported on the Green Growth Fund last week, and a regulatory document associated with its formation has since come to light.

It’s no surprise that Kleiner Perkins is on the fund-raising trail. Kleiner Perkins, which raised $600 million for its previous core fund in February 2006, has put at least $556 million to work in 107 startups over the past two years, according to data from Thomson Financial (publisher of PE Week). That number is approximate and may not account for unannounced deals in stealth mode.

The firm’s investment pace seems to be accelerating. Kleiner Perkins has put $127 million into 37 startups just so far this year, according to data from Thomson Financial.

The firm had to allocate $100 million from fund XII to its investments in energy and resource efficiency startups, but later upped that allocation to $200 million. It also announced a $200 million Pandemic Bio-Defense fund at the same time.

The firm has boosted its team since its last fund. It hired Chi-Hua Chien, William “Bing” Gordon, Al Gore, Wen Hsieh, James Li, Thomas Monath and Jessica Owens to help with its U.S. investing. It also partnered with Tina Ju, David Su and Forrest Zhong to launch a $360 million fund for China during the summer of 2007.

Kleiner Perkins has not seen much in the way of exits recently. It sold software company Visible Path, which had raised $20 million in venture funding, to Hoover’s for an undisclosed amount in February. It sold biotech company Iconix Biosciences, which had raised about $45 million in venture funding, to Entelos for up to $39 million in stock in September 2007. Kleiner also sold security software company Oakley Networks, which had raised about $29 million in venture funding, to Raytheon for an undisclosed sum in September.

The firm supported the only venture-backed startup to float an IPO during the first quarter. Kleiner Perkins, along with a handful of other investors, saw security software company ArcSight (Nasdaq:ARST) raise $61.8 million from the public markets in February at an offering price of $9 per share. At press time, the company was trading at $7.80 per share.