Greylock, a global venture capital investor well known for backing major tech firms such as Airbnb, Coinbase, and Meta, has announced the launch of its 17th fund, with $1 billion in total corpus.
The fund, Greylock 17, will focus on Pre-Seed, Seed, and Series A founders in enterprise and consumer software, the firm said.
It will continue to partner with founders building AI-first companies across cybersecurity, infrastructure, SaaS, consumer, marketplaces and commerce, and fintech and crypto.
“We expect that every company will become an AI company,” the firm said. “While it’s been exciting to watch as the venture community has embraced AI as a thesis area over the last year, Greylock has been committed to AI investing for a decade and this commitment continues into Fund 17.”
In September 2020, Greylock announced its 16th fund, totaling $1 billion. Some of its recently announced investments include Frec, PayJoy and Upwind Security. In its last fund, over 80% of the investments made were Pre-Seed, Seed, or Series A.
“We have a strong track record of digging in with founders starting at the very beginning to help them build and grow enduring businesses,” it said.
The firm also announced the launch of Greylock Edge, its new bespoke company building program designed to advance select pre-idea, pre-seed and Seed founders, by harnessing the full potential of Greylock’s resources and expertise.
Greylock partners work directly with Edge founders to brainstorm and iterate the foundational decisions from inception to product market fit, with fully flexible financing options.
The firm said its differentiation comes from helping early stage founders develop their vision and further hone their strategy, working alongside them with every challenge and success.