Venture Capital Firm Greylock Announces New $1 Billion Fundby
Fund will focus on early stage software-driven businesses
Greylock total assets under management brought to $3.5 billion
Venture capital firm Greylock Partners said it raised a new fund with commitments of $1 billion, bringing total assets under management to $3.5 billion.
Greylock said the fund will focus on early stage software-driven consumer and enterprise companies, in line with its other investments. The new fund will be Greylock’s fifteenth.
“On the consumer side, we really focus on investing in businesses that network people together,” James Slavet, a partner at Menlo Park, California-based Greylock, said in a phone interview Monday. “We’re spending a lot of time in areas like messaging and VR and robotics.”
The new fund is in line with a previous $1 billion portfolio of investments in early stage companies, Slavet said.
Greylock currently has investments in more than 80 companies, including home-sharing company Airbnb Inc., GoFundMe, a fundraising website, and Redfin, an online real estate company.