Greylock Israel Partners, the affiliate fund of Greylock Partners — well-known for investing in companies like Facebook, Groupon, LinkedIn, and Pandora — is reportedly raising a new venture fund valued at $160 million for startups in Europe and Israel.

The fund is managed by five Greylock partners, including Moshe Mor, Erez Ofer, Yoram Snir, Laurel Bowden and Arnon Dinur.

The firm has invested in over 20 startups in Israel, but the newly raised capital will be sure to bring in a whole heap of new investments over the next few months. At a time when hubs outside of Silicon Valley are beginning to make their mark, Europe and Israel are considered hotspots. Greylock Israel last raised a round in 2006.

Greylock is one of Silicon Valley’s oldest investment firms, having been founded in 1965. With $2 billion of capital under management, the firm has invested in 300 companies. In March, it expanded its early stage startup fund to $1 billion.

(Pictured: Greylock Partner Frank Slootman at Times Square)

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