Venture capital firm, Greylock Partners, one of the investors that took part in Groupon’s $950 million financing round earlier this year and has also invested in other well known companies such as Facebook and LinkedIn, is said to be starting a new venture fund for startups in Europe and Israel. The fund is valued at $160 million.
Thus far Greylock has invested in 20 startups in Israel and according to Mike Butcher from TechCrunch the new funds will be aimed at internet technology companies. He said that it had been confirmed that the fund would be run from London by Laurel Bowden, a partner who joined the firm in 2008 with investments at Greylock including Wonga, notonthehighstreet and Just Eat.
Butcher also added that Greylock had confirmed that this is Fund II for Europe/Israel. Fund I started investing in Israel in 2006 and started investing in Europe in 2008.]
The news will be of interest to the latter, since VC fundraising has fallen off dramatically and in 2010 VCs in Israel raised no new capital. Greylock Israel has not had any large exits so far, and had to write off its investment in failed mobile company modu.