Greylock Ventures announced its $1.5 billion 18th fund, a 50% increase over its $1 billion 2023 vehicle. Partner Saam Motamedi said the firm could have raised a "multiple" of that figure but chose restraint to maintain its partnership model.

The 61-year-old firm's 10 partners make only one or two new investments annually, targeting roughly 25 portfolio companies per fund. Greylock focuses on incubating and leading seed and Series A rounds, with notable successes including Palo Alto Networks and Abnormal.

While primarily early-stage, Greylock allocates about 15% to later-stage opportunities like Anthropic, Revolut, and Wiz. Motamedi emphasized the firm's core strategy remains betting on founders before companies exist, with Monday partner meetings centered on people rather than company names.