Will Kleiner Perkins Startup Oil and Gas Exploration on the Ropes?

Oil and gas startup backed by oil and gas investor,VC heavyweight Kleiner Perkins Caufield & Byers, may be at the border will abdomen, according to a report from PEHub.

Terralliance, which raised $ 295 from Kleiner and other investors the return of oil and gas software, is reported to have fired its founder and CEO of four fifths of its workers and closed offices, because it has to a significant restructuring of the debt burden.

PEHub reports Kleiner Perkins - who emerged as a leading investor in the greentech companies late - invested 10 million dollars in Terralliance in 2004, another $ 35 million in 2005, and then a piece of 250-million dollars round in 2006. Other investors in the 2006 round included Goldman Sachs, DAG Ventures and Dubai-based Ithmar, PEHub reported. Read more >>