Menlo Park, Calif. – Khosla Ventures, a Menlo Park-based venture capital firm focused on the technology sector, said it has raised $1.05 billion for a new venture fund. The fund, known as Khosla Ventures IV, will allow the firm to continue its strategy of investing in early stage clean tech, IT, mobile and Internet technology companies.

Founded in 2004, Khosla had previously closed its $1 billion Khosla III fund, as well as a $300 million seed fund.

“We fundamentally invest in the companies that we expect to have significant impact, and that’s precisely what the Khosla Ventures IV fund will do,” said Khosla Ventures founder Vinod Khosla (pictured). “We don’t mind failing but do care that the impact be material if we do succeed; and we believe that our willingness to fail gives us an ability to succeed.”

This article was also published in Bay Area Tech Wire.

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