Frank J. Caufield’s Montecito estate is asking $39.75 million.

This California property owned by the late venture capitalist Frank J. Caufield is on the market for $39.75 million.

Mr. Caufield, who died last year at 80, co-founded Silicon Valley powerhouse Kleiner Perkins Caufield and Byers, which made investments in some of tech’s best-known companies including Amazon. Mr. Caufield stepped away from his daily role at the firm, now known as Kleiner Perkins, in 2000.

The property is a nearly 12-acre estate in Montecito, Calif. The roughly 18,500-square-foot, nine-bedroom Italian Renaissance-inspired villa was designed around 1927 by George Washington Smith, a prominent Santa Barbara architect, according to research by Sotheby’s International Realty, which is listing the home.

The home still has many of its original details including inlaid golden travertine floors in the entrance gallery, hand-carved walnut paneled walls in the library and carved limestone arched windows in the dining room. The property has three separate wine cellars: one for white wine, one for red wine and one for aging, as well as a solarium with a 38-foot pool and a beamed ceiling and a study.

The Montecito property also has extensive gardens; both the gardens and the house were inspired by Italian villas, including Villa Gamberaia near Florence, according to Sotheby’s research. The landscape includes the biggest dragon tree in Santa Barbara, according to a search conducted by local growers in 2014, Sotheby’s said. At 43½ feet tall, the tree is listed in the California Big Tree Registry.