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Today: May 22, 2024
January 10, 2024
1 min read

Keith Rabois: The Return of a Venture Capital Maverick

TLDR:

– Keith Rabois, general partner at Founders Fund, is set to rejoin Khosla Ventures as managing director, its most senior position.
– Rabois, known for his involvement in successful startups, will reunite with Vinod Khosla, the founder of Khosla Ventures.
– Rabois plans to establish a Khosla Ventures office in Miami and will continue to represent Founders Fund on several boards after his move.

Venture Capital veteran Keith Rabois is set to rejoin Khosla Ventures as managing director, its most senior position. Rabois, known for his involvement in successful startups like Affirm, DoorDash, and Opendoor, made the decision to join Khosla Ventures after a dinner meeting with its founder, Vinod Khosla. This move marks Rabois’s departure from his current post at Founders Fund, where he led notable deals in companies like Ramp and Faire. Rabois expressed his admiration for both Khosla and Thiel, stating that he learned more about building a startup from Peter Thiel, while Vinod Khosla is his model as an investor.

Discussions for Rabois’s return to Khosla Ventures began last month, with managing director Samir Kaul emphasizing the enthusiasm of the trio to work together again. Rabois will be one of five managing directors overseeing the recently closed $3.1 billion in new capital across three funds at Khosla Ventures. He plans to establish a Khosla Ventures office in Miami, where he has been a vocal supporter of the tech scene since moving there in 2020. Rabois also plans to maintain a presence at the firm’s Bay Area headquarters.

Despite Rabois’s return, Vinod Khosla expressed confidence in the firm’s outlook, stating that Khosla Ventures remains optimistic about technology-based disruption opportunities in 2024, even without Rabois’s re-addition. The firm recently raised an “above-target” war chest for investments and plans to continue staffing up while others contract in the industry. Rabois will continue to represent Founders Fund on several boards after his move, including Ramp, Found, and Trade Republic.

What sets Khosla Ventures apart, according to Rabois, is its hands-on, venture assistant approach, which contrasts with the more passive, finance-focused management style of some other firms. Rabois mentioned that if Khosla Ventures had been more flexible about remote work, he might not have left the firm initially. He expressed a commitment to providing tactical advice and operational support to portfolio companies.

Overall, Rabois’s return to Khosla Ventures marks a reunion with Vinod Khosla and a new chapter in his venture capital career. With his experience and expertise, Rabois is well-positioned to contribute to the success of Khosla Ventures and its portfolio companies.

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