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Khosla, the longtime VC who also helped found Sun Microsystems ( JAVA - news - people ), has been investing in start-ups with his own cash for several years through Khosla Ventures, his prominent Sand Hill Road firm. But now he’s on the verge of announcing two new funds with money from outside investors: A $250 million vehicle for seed-stage investments and a $750 million fund called “KVIII” for larger deals, according to people with knowledge of the funds. One fund has closed already and the other could close soon, perhaps as early as this week.
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venture capital fund raising
