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.
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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