Greylock Raises $1.5 Billion 18th Fund as It Resists Venture Capital’s Bigger-Fund Push
Updated
Updated · TechCrunch · Jul 15
Greylock Raises $1.5 Billion 18th Fund as It Resists Venture Capital’s Bigger-Fund Push
1 articles · Updated · TechCrunch · Jul 15
Summary
$1.5 billion marks Greylock Partners’ 18th fund, a vehicle the firm says it deliberately kept smaller than it could have raised despite strong demand.
50% above its 2023 $1 billion predecessor, the fund is still sized to let Greylock’s 10 partners stay selective and build a portfolio of roughly 25 companies.
85% of the capital will target incubations, seed and Series A rounds, where Greylock has built companies such as Palo Alto Networks and backed Abnormal, last valued at $5.1 billion.
About 15% is reserved for later-stage bets the firm missed early, following growth investments in Anthropic, Revolut and Wiz; Anthropic became Greylock’s largest-ever investment at its $183 billion Series F valuation.
The strategy underscores Greylock’s pitch that concentrated fund sizes help it stay a hands-on partner, often backing founders before a company even exists.