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Greylock Launches $575 Million FundPOSTED November 4, 2009 SAN MATEO -- Venture capital firm Greylock Partners has launched Greylock XIII, a $575 million fund. The firm has also added a new investing partner, LinkedIn Co-Founder and Executive Chairman Reid Hoffman. Greylock will use the funds to invest in and support promising enterprise and consumer software, services and infrastructure ventures. “We are thankful to count among our investors some of the most sophisticated and respected university endowments and family foundations, many of which have been enthusiastic supporters of Greylock since our founding in 1965,” says Greylock Partner Bill Helman. “In this difficult environment, all investors need to be particularly selective about the funds in which they invest,” says Andrew K. Golden, President, Princeton University Investment Co. “We are enthusiastic about Greylock and pleased that the firm allows us to be such a close partner. Our investment in Greylock XIII represents the lion’s share of the commitments we plan to make to venture capital funds this year.” “Over the past forty-four years we have partnered with entrepreneurs to build hundreds of successful businesses, 150 of which have gone on to IPOs and another 100 of which have gone on to profitable M&A events,” says Greylock Partner Aneel Bhusri. “We look forward to partnering with the next generation of entrepreneurs to help them create strong, significant businesses.” Recent and current consumer companies Greylock has supported include Digg, Facebook, Farecast (Microsoft), LinkedIn, Pandora, and ZipCar. Recent and current enterprise companies Greylock has supported include Cloudera, Constant Contact (CTCT), Data Domain (EMC), Data Robotics, Imperva, OutlookSoft (SAP), Palo Alto Networks, Polyserve (HP), Red Hat (RHT), Success Factors (SFSF), Wily Technology (CA), and Workday. Reid Hoffman joins Greylock as a partner. He will remain active day-to-day at LinkedIn as Executive Chairman. In his role at Greylock Partners, Hoffman will invest in promising early-stage consumer Internet and software ventures, as well as coach and advise entrepreneurs of Greylock portfolio companies. “I have worked closely with Reid as a board director at LinkedIn for the past five years and am thrilled to welcome him to the partnership,” says David Sze, a partner at Greylock. Sze leads the firm’s investments in LinkedIn as well as Digg, Facebook, Pandora and others. “At Greylock we place a high value on hiring partners with deep operating experience at companies with explosive growth. Reid also possesses a unique understanding of consumer behavior and the dynamics of viral businesses, and that has made him one of the most sought after advisors to start-ups.” “As a Greylock entrepreneur I witnessed firsthand the firm’s ability to help entrepreneurs become successful by focusing on company building and staying true to the firm’s values. I look forward to continuing that legacy,” says Hoffman. “I am deeply passionate about partnering with entrepreneurs to build companies that make a lasting impact.” © Copyright SVDaily.com |
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