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Greylock Partners

For other uses, see Greylock.
Greylock Partners, LLC
Company typePrivate
IndustryVenture capital
Founded1965; 59 years ago (1965) in Cambridge, Massachusetts, U.S.
Founders
  • Bill Elfers
  • Dan Gregory
Headquarters Menlo Park, California, U.S.[1]
Total assets$3.5 billion
Number of employees
30+
Websitegreylock.com

Greylock Partners, LLC is one of the oldest venture capital firms, founded in 1965, with committed capital of over $3.5 billion under management.[2] The firm focuses on early-stage companies in consumer and enterprise software.

History

Former corporate logo (used until 2010)

Greylock was founded in 1965 in Cambridge, Massachusetts by Bill Elfers and Dan Gregory, joined shortly thereafter by Charlie Waite. Elfers and Waite had both worked at American Research and Development Corporation. The original capital of $10 million was committed by a group of six families. The company opened a second fund in 1973.[3] The company opened its first office in Silicon Valley in 1999.[2]

Greylock closed its 12th fund in 2005 with $500 million.[3] In 2009, Greylock relocated its headquarters from the original Boston location to Silicon Valley.[4][5] Also in 2009, Greylock opened its 13th fund with $575 million.[6] In 2011, the 13th fund was increased to $1 billion.[7] The company organized a 14th fund in 2013 with $1 billion.[8] The company organized a 15th fund in 2016 with $1 billion.[9] In 2020, it organized a 16th fund with $1 billion,[10] and in 2021, the company raised an additional $500 million for the 16th fund to be used exclusively on seed deals.[11]

In 2014, Greylock launched Communities, a series of networking events centered on areas like design, big data, infrastructure engineering, user growth, data science, and network security. The communities are composed of product managers, engineers, and technologists from Silicon Valley's largest and fastest growing companies who meet once a quarter.[12] Their branch in Israel formerly known as Greylock IL was rebranded as 83north in January 2015.[13]

Greylock partners include David Sze,[14] Reid Hoffman,[15] and Mustafa Suleyman.[16]

References

  1. ^ Boston's Greylock Partners moves HQ to Silicon Valley Archived 2009-05-21 at the Wayback Machine
  2. ^ a b "About Us".
  3. ^ a b Buderi, Robert (July 26, 2010). "Greylock's Henry McCance on Why the Firm Moved Its HQ to Silicon Valley and How Boston Must Find Its Google". Xconomy. Archived from the original on Feb 21, 2016. Retrieved Jul 12, 2024.
  4. ^ McBride, Ruan (May 19, 2009). "A Blow to the Boston VC Scene? Greylock Partners Moving HQ to Silicon Valley". Xconomy. Retrieved December 28, 2015.
  5. ^ Miller, Claire Cain (May 19, 2009). "Is Boston Still a Venture Capital Hotbed?". The New York Times. Retrieved December 28, 2015.
  6. ^ Miller, Claire Cain (November 2, 2009). "Despite Slump, Venture Firm Sets Up $575 Million Fund". New York Times. Retrieved December 28, 2015.
  7. ^ Fowler, Nina (September 11, 2013). "Greylock Partners Raises $1BN Fund With Marketplaces and Enterprise in Mind". Archived from the original on November 25, 2014. Retrieved December 28, 2015.
  8. ^ Tomio Geron (September 10, 2013). "Facebook, LinkedIn Investor Greylock Partners Raises $1 Billion For 14th Fund". Forbes.
  9. ^ Roof, Katie (2016-10-11). "Greylock closes $1 billion fund". TechCrunch. Retrieved 2023-01-31.
  10. ^ "Greylock Partners Raises $1 Billion for Venture Capital Fund". Bloomberg.com. 2020-09-15. Retrieved 2023-01-31.
  11. ^ "Greylock Raises $500 Million in Battle for Seed Deals". The Information. Retrieved 2023-01-31.
  12. ^ Rao, Leena (July 1, 2015). "Greylock wants techies to schmooze more in person, not just online". Fortune. Retrieved December 28, 2015.
  13. ^ Orr Hirschauge (January 6, 2015). "Greylock IL Rebrands as 83North, Announces a $200 Million Fund". Wall Street Journal.
  14. ^ "David Sze, '88 B.A., M.B.A." Yale University. 2018-07-03. Retrieved 2023-08-22.
  15. ^ "Greylock Partners recruits LinkedIn's Reid Hoffman, raises $575M fund". VentureBeat. 2009-11-02. Retrieved 2023-08-22.
  16. ^ Hall, Christine (2022-01-20). "New Greylock venture partner Mustafa Suleyman is looking for AI's next best thing". TechCrunch. Retrieved 2023-08-22.
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