Amazon Gold Ventures: Kleiner Perkins Hopes To Turn A Black Eye Into Black Gold
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When a start-up called NEOS GeoSolutions Inc. announced last month that it raised $60 million in venture capital from Microsoft Corp. founder Bill Gates, Kleiner Perkins Caufield & Byers and others, it made no reference to its troubled predecessor.
Most publications didn’t either, perhaps also distracted by Gates’ involvement, wondering, for instance, if the philanthropist and green investor was “hypocritical” for putting money into a company that uses data analysis and geophysical sensors to help oil and gas companies find the best place to drill.
But it turns out that NEOS GeoSolutions is formerly Terralliance Technologies Inc., which Kleiner Perkins, Goldman Sachs Group Inc. and Passport Capital poured hundreds of millions of dollars into before the company stumbled amid controversy over its technology and spending.
When a start-up called NEOS GeoSolutions Inc. announced last month that it raised $60 million in venture capital from Microsoft Corp. founder Bill Gates, Kleiner Perkins Caufield & Byers and others, it made no reference to its troubled predecessor.
Most publications didn’t either, perhaps also distracted by Gates’ involvement, wondering, for instance, if the philanthropist and green investor was “hypocritical” for putting money into a company that uses data analysis and geophysical sensors to help oil and gas companies find the best place to drill.
But it turns out that NEOS GeoSolutions is formerly Terralliance Technologies Inc., which Kleiner Perkins, Goldman Sachs Group Inc. and Passport Capital poured hundreds of millions of dollars into before the company stumbled amid controversy over its technology and spending.
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