JK&B was founded in 1996 by David Kronfeld, an experienced, highly regarded venture capital investor and telecommunications industry executive. JK&B was formed with the sponsorship of Charles Wang, the founder of Computer Associates, Inc., and financier George Soros, investing through Soros Fund Management LLC, (the Soros Group). Funds I and II have been managed in parallel as a single fund and had total capital commitments of $112 million. JK&B Fund III was formed in early 1999 with capital commitments totaling $486 million from a variety of institutional and individual investors, including Mr. Wang and the Soros Group. JK&B Fund IV was formed in 2002 with capital commitments totaling $320 million.