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Greylock Partners Spins Out $20 Million Seed Fund

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The Wall Street Journal reported earlier today that Reid Hoffman, the co-founder of LinkedIn Corp. and Greylock Partner, has spun out a $20 million seed fund from Greylock's $575 million Discovery Fund.

While not new money, the spin out will allow quicker decisions to be made regarding the seed investments without Hoffman having to wait for partnership approval, which can take some time.

“It allows me to continue the kind of investing I did before Greylock,” said Hoffman, who will lead the investment decisions. As an angel investor, Hoffman has made early bets in high-flying Internet companies such as Digg, Facebook, Flickr, Ning, Pandora and Zynga.

WSJ is reporting that the Seed Fund has already made four small investments, none that have been formally announced. Greylock says that it will invest as little as $25,000 or as large as $500,000 in potential seed opportunities.

To read the full story, please click here.

Posted-In: Digg Facebook Flickr Greylock Partners LinkedIn. NingHedge Funds Movers & Shakers

 

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