Al Gore named as partner of US private equity group

Source: Exec Digital USA

Date :11/13/2007 9:27:30 AM

Former Vice President Al Gore said on Monday that he had become a partner in the venture capital firm Kleiner Perkins Caufield & Byers.

The announcement comes as a result of global collaboration between KPCB and Generation Investment Management - of which Mr. Gore is chairman and co-founder -to find, fund and accelerate green business, with the greatest potential to help solve the current climate crisis.

The partnership will provide funding and global business-building expertise to a range of businesses, both public and private, and to entrepreneurs.

“This alliance brings together world-class business talent to focus on solving the climate crisis," said Mr Gore. “Together, we have a working understanding of this urgent, multi-dimensional challenge and are resolved to help business and government leaders accelerate the development of sustainable solutions."

Active responsibility

The two teams will collaborate on opportunities spanning sectors such as renewable energy technologies, building efficiency, cleaner fossil energy, sustainable agriculture and carbon markets.

Gore said his primary responsibility will continue to be chairman of Generation Investment Management – which he co-founded in 2004, but said he would pull his share of the load at Kleiner Perkins and would be involved in a lot of activities.

John Doerr, a partner at Kleiner Perkins said Mr. Gore would help the firm, one of Silicon Valley’s largest, attract innovative start-ups - an advantage in the firm’s competition with other venture capitalists.

Mr. Gore said he would donate his salary from the venture to the Alliance for Climate Protection, a non-partisan foundation he chairs.

Kleiner Perkins declined to say whether Mr. Gore would receive a management fee or participate in profit sharing, noting that matters of compensation are private.

November 13, 2007