Greylock raises $1.5B fund betting on the AI wave
What's the deal? Greylock, one of Silicon Valley's oldest venture firms, has raised its eighteenth fund, a $1.5 billion vehicle for early stage startups. The 61-year-old, San Francisco-based firm plans to invest most of the money in young companies.
Why now? The firm is betting the artificial intelligence race has room to run. "What prior tech waves have shown us is that a few years after the start of a wave is when the largest companies get built," said managing partner Asheem ChandnaDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Chandna argues the biggest winners are still ahead. "Despite what might have happened in the last few years, the next trillion-dollar companies are actually going to get started in the period ahead," he said.
The signal: A $1.5 billion early stage fund signals that established firms see the AI cycle as early, not late — and are committing fresh capital to back the founders they expect to build the next generation of large companies.
Read more: Bloomberg Law
Image credit: LeWeb14
