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Greylock Partners, the venture capital firm that has offices in San Mateo, has raised a tidy sum of $500 million for its latest fund. It is looking pretty green here in the heart of VC land — Menlo Park/Palo Alto/San Mateo — and not only because it is November.

Just a note for the Web 2.0 fans, this is the firm where David Sze is a partner. He has invested in Cairo, digg, LinkedIn, Oodle, SoftCoin and Wink, as well as “another stealth mode consumer technology startup” — making him about as prolific as any VC in this area. We met David about a year ago, and he is also as analytical as any VC we have met. Give him a sheet of paper, and he will fill it with overlapping circles, theorems and other graphic pontifications within minutes to portray his ideas.

He will need that sort of mind in this fast-moving world of Web 2.0 investing. We should also point out his latest investment, unannounced as far as we know (except for a very brief mention in PEW; scroll down), in Cairo. The company aims to let you see all the current sales prices for goods at your neighborhood stores — all on your own personalized web page. Helps you bypass looking for sales ads elsewhere. Sze’s sits on the board, and Greylock and Redpoint pumped in $7.5 million earlier this month. It has received $10 million in total since being founded in 2003.

UPDATE: Cairo getting pounded by ShopLocal? Reader says so below.