Greylock partners, a VC firm that has invested in a notable payments startups such as iZettle and Marqeta, has raised $1 billion for a new fund, VentureBeat reported. The announcement was made at TechCrunch Disrupt.
“The cost of doing software startups has gone [up] so far, and part of why we have a job is to sort which can work and which won’t, which of those have potential or possibilities early and can grow into something industry-transforming,” Reid Hoffman, the co-founder of LinkedIn and a current Greylock partner, said at the event.
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Hoffman indicated that the firm would not likely invest the entire sum into new startups. For more on the new fund and how it fits into Greylock’s strategy, click here.
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