Venture capital may have slowed, but that doesn’t mean some VC firms aren’t still raising big.
The firm will look to fund AI-first companies across a variety of areas, including cybersecurity, fintech, consumer and more. In a blog post, the firm said more than 80% of the investments made in its previous fund were pre-seed, seed or Series A.
“We expect that every company will become an AI company,” the blog reads. “While it’s been exciting to watch as the venture community has embraced AI as a thesis area over the last year, Greylock has been committed to AI investing for a decade and this commitment continues into Fund 17.”
Simultaneously, Greylock also announced a new program called Greylock Edge, a three-month company-building program for pre-idea, pre-seed and seed founders that also will include some type of “flexible” funding.
Big money across the pond
That wasn’t the only news of a large new fund on Tuesday. London-based Atomico has raised $1.1 billion of new funding to invest in startups even as Europe also has seen a decline in venture capital funding, the Financial Times reported. The firm is raising the cash for its new venture and growth funds, with a goal of $1.35 billion for both funds, per the report.
Atomico last announced a fund in February 2020 — an $820 million vehicle — per Crunchbase data.
Illustration: Li-Anne Dias
Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.