Reid Hoffman (pictured left), a founder of LinkedIn, prominent angel investor, and partner with venture capital firm Greylock Partners, announced a new $20 million seed fund affiliated with Greylock for small-scale investments into startups.
The seed project, announced by Hoffman at the TechCrunch Disrupt conference in San Francisco today, comes from the $575 million fund Greylock partners launched last year, and each partner can invest small portions of it as they see fit without committee approval.
“We’ve been blown away by how some of the most successful, if not the most successful, companies have started with smaller funds,” Hoffman said. “A fund like this, it allows, for example, me to continue the kind of investing I was doing before and still keep track of potential great startups.”
Four companies have been funded by the seed project so far, though Hoffman said the companies did not want to be named.
Greylock Partners manages around $2 billion since it was founded in 1965, funding some heavy hitters like Facebook, LinkedIn, Pandora and Digg. Hoffman, now a partner, was the founder of LinkedIn when it launched in 2003.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more