Greylock closes Fund XIV on $1.1bn

Silicon Valley-headquartered Greylock Partners has used capital from 14 funds to invest in Facebook, Pandora, ZipCar and other online marketplaces and social networks.

Greylock Partners has closed its fourteenth venture capital fund on $1.1 billion, according to documents filed with the US Securities and Exchange Commission.

The firm did not return a request for comment.

Greylock closed its prior vehicle on $575 million in 2009 before expanding the fund to $1 billion in 2011. The firm raised the additional capital from existing limited partners, including the Princeton University Investment Company and university endowments from Harvard and Duke.

Fund XII, a 2005 vintage, closed on $500 million and received commitments from Amherst College, Dartmouth College, and the Sherman Fairchild Foundation, according to Private Equity International’s Research and Analytics division

Greylock also manages the Greylock Discovery Fund, which makes ‘seed’ investments between $50,000 and $500,000. Past investments from the fund include workspace rental service, Liquidspace.

Greylock’s Growth fund, which launched in 2011, targets consumer software companies, such as former portfolio company Groupon. The firm’s current portfolio includes some of the biggest names in technology such as social network sites Facebook and LinkedIn, internet music site Pandora, as well as car rental service ZipCar. More than 150 of the firm’s portfolio companies have held initial public offerings and more than 100 have gone on to profitable M&A events.

Greylock was founded in 1965 in Massachusetts by the late Bill Elfers, who worked at one of the first venture capital firms in the US—American Research & Development. In 1999 Greylock expanded to Silicon Valley and in 2006 it established Greylock IL, which focuses on investments in Israel and London. Greylock has $2 billion under management, according to its website.