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Greylock Partners
Type Private
Founded 1965
Founder(s) Bill Elfers, Dan Gregory
Headquarters San Mateo, California, U.S.
Waltham, Massachusetts, U.S.
Industry Private equity
Products Venture capital
Total assets $2 billion
Employees 30+
Website www.greylock.com

Greylock Partners is one of the oldest venture capital firms, founded in 1965, with committed capital of over $2 billion under management. The firm focuses on early stage companies in the consumer, enterprise software and infrastructure as well as semiconductor sectors.

Today, Greylock operates out of offices in the Bay Area, Boston, Israel and India.

Over the ensuing 43 years, Greylock has raised a series of partnerships, with current committed capital in excess of $2 billion, and helped build over 300 growth companies.

Contents

History

History of private equity
and venture capital
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Early History
(Origins of modern private equity)

The 1980s
(LBO boom)

The 1990s
(LBO bust and the VC bubble)

The 2000s
(Dot-com bubble to the Credit crunch)

  

Greylock was founded in 1965 by Bill Elfers and Dan Gregory, joined shortly thereafter by Charlie Waite. Bill and Charlie had both worked at American Research and Development Corporation—one of the country’s first venture capital firms—while Dan was an investment manager at John P. Chase. The original capital ($9 million in total) was committed by a group of six prominent families, all of whom are still investors in Greylock.

Investments

Greylock's early-stage investments in recent years have included Corio, Xros (now part of Nortel), Sirocco Systems (now part of Sycamore Networks), Octane (now part of E.piphany), Red Hat, Phone.com (now Openwave Systems), ISS Group, DoubleClick, Open Market, Kiva Software (now part of Netscape), CheckFree, Cygnus (now part of Red Hat), Forte Software (now part of Sun Microsystems), Legato (now part of EMC), Trilogy, Clarus, Xircom (now part of Intel), Ascend Communications (now part of Lucent), and Copper Mountain Networks. Greylock has sponsored more companies to successful initial public offerings than any other early-stage venture firm, with over 125 total and has been lead or co-lead investor in most of these companies.

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Investment Areas of Focus

  • Consumer and Services: Financial, Healthcare, Internet, Mobile, Retail, Systems Integration.
  • Enterprise Infrastructure: Compute/Data Center, Management, Networking, Security, Storage.
  • Enterprise Software: Applications, Software-as-a-Service (SaaS)
  • Semiconductor: EDA, Networking, Wireless

Funding

Greylock Partners is organized in a series of twelve limited partnerships begun in 1965, 1973, 1979, 1983, 1985, 1987, 1990, 1994, 1997, 2000, 2001 and 2005. In 2006, Greylock launched Greylock Israel, a separate fund dedicated to Israel. Committed capital across the Greylock partnerships exceeds $2 billion. Greylock's limited partners include the nation’s most prestigious university endowments, major American industrial families and not for profit foundations. Greylock has had all of its limited partners participate in all partnerships subsequent to their original investment.

Significant Investments

Some of the more notable investments include financing upstart adware/spyware firms, most notably Claria Corporation, formerly and notoriously known as Gator Corporation. At the same time, Greylock Partners has invested in the security side of computing, including database encryption companies such as Imperva, and networking product companies, such as CentrePath. Perhaps the most notable investment is Facebook.com

References

External links


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