Greylock Partners closes $575m fund, LinkedIn co-founder joins team

Greylock Partners has supported over 300 growth companies, 125 of which have become publically held while another 100 have merged with other successful companies.  Notable names include Digg, Facebook, Pandora and Zipcar.

In conjunction with the fund closure LinkedIn co-founder and executive chairman Reid Hoffman has joined the firm as a partner.

David Sze, a partner at Greylock, said, “I have worked closely with Reid as a board director at LinkedIn for the past five years and am thrilled to welcome him to the partnership.  At Greylock we place a high value on hiring partners with deep operating experience at companies with explosive growth.  Reid also possesses a unique understanding of consumer behaviour and the dynamics of viral businesses.”

LinkedIn is a business social networking site focused on professional networking and has over 50 million users worldwide.  Hoffman will remain active at LinkedIn as executive chairman while working at Greylock to invest in early stage consumer internet and software ventures.  Prior to his tenure at LinkedIn, Hoffman acted as executive vice president at PayPal.

“As a Greylock entrepreneur, I witnessed firsthand the firm’s ability to help entrepreneurs become successful by focusing on company building and staying true to the firm’s values.  I look forward to continuing that legacy,” said Hoffman.

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