Greylock Partners, a Silicon Valley venture capital firm, has closed its USD575m Greylock XIII 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.
Recent and current consumer companies Greylock has supported include Digg, Facebook, Farecast (Microsoft), LinkedIn, Pandora, and ZipCar.
Hoffman 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.
“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.”
