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.