Khosla Ventures is in the final stages of raising $3 billion for its latest set of venture funds, showing how some Silicon Valley investors remain bullish even as startups continue to stare down slower growth and lower valuations. 

The fundraise will be one of the largest completed by a venture firm this year and one of the few to grow in size. Khosla Ventures, the first outside investor in ChatGPT creator OpenAI, last raised $1.85 billion three years ago.