Greylock Partners launches $1Bn fund for early-stage startups
Greylock Partners has revealed its latest fund – Greylock 17 – which aims to inject capital into startups in the early stages of funding. As per the official statement by the firm, the latest fund amounts to $1 billion, and is “intentionally focused on Pre-Seed, Seed, and Series A founders in enterprise and consumer software.” With the introduction of Greylock 17, the venture capital powerhouse is setting its sights on early-stage startups in the domains of enterprise and consumer software.
Greylock Partner Saam Motamedi elaborated on the fund’s focus, highlighting that it will specifically target pre-seed, seed, and Series A founders. Remarkably, more than 80% of Greylock’s previous fund was channeled into these critical early stages of startup development. The firm believes that every company, regardless of its industry, will eventually incorporate artificial intelligence (AI) into its operations. In anticipation of this transformative trend, Greylock 17 expands on the firm’s decade-long investment in AI-focused companies across various sectors, including cybersecurity, infrastructure, software-as-a-service (SaaS), marketplaces, fintech, and cryptocurrency.
Complementing Greylock 17 is the Greylock Edge program, an initiative designed to provide comprehensive support for founders in the earliest stages of their entrepreneurial journey. Greylock Edge doesn’t stop at financial support. Founders gain access to a wealth of resources, including early customers and design partners. Moreover, Greylock extends a helping hand in the critical task of initial team recruitment.
“Greylock Edge harnesses our decades of expertise in guiding founders from inception to IPO and beyond. Three-month access to Greylock’s resources, AI Researchers in Residence, hiring and customer services. We don’t require that Edge companies take capital from Greylock. We provide flexible funding ranging from a priced seed round to an uncapped SAFE note, to no capital at all. Additionally, we offer $500K+ in credits with AWS, Google, Microsoft and more,” Greylock described Edge on its website. Greylock Edge also provides founders with the freedom to choose whether they wish to accept capital from Greylock. This flexibility allows founders to chart their course while benefitting from Greylock’s extensive resources and guidance.
