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Greylock Closes 17th Fund At $1B

Oct 03, 2023 - news.crunchbase.com
Venture capital firm Greylock has announced its 17th fund, a $1 billion vehicle focused on pre-seed, seed, and Series A founders. The firm will primarily invest in AI-first companies across various sectors, including cybersecurity, fintech, and consumer. Greylock also launched a new program, Greylock Edge, a three-month company-building initiative for pre-idea, pre-seed, and seed founders, which will include some form of "flexible" funding.

In other news, London-based Atomico has raised $1.1 billion of new funding to invest in start-ups, despite a decline in venture capital funding in Europe. The firm is aiming to raise $1.35 billion for its new venture and growth funds. Atomico's notable investments include Klarna and electric flying car start-up Lilium.

Key takeaways:

  • Greylock has announced its 17th fund, a $1 billion vehicle focused on pre-seed, seed and Series A founders. The firm will primarily fund AI-first companies across various sectors.
  • More than 80% of the investments made in Greylock's previous fund were pre-seed, seed or Series A. The firm also announced a new program called Greylock Edge, a three-month company-building program for pre-idea, pre-seed and seed founders.
  • London-based Atomico has raised $1.1 billion of new funding to invest in start-ups, despite a decline in venture capital funding in Europe. The firm aims to raise $1.35 billion for its new venture and growth funds.
  • Atomico's notable investments include Klarna and electric flying car start-up Lilium. The firm last announced a fund in February 2020, an $820 million vehicle.
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