Report: Greylock Partners, The VC Firm Behind Facebook, Pandora And Workday, Plans To Raise $1 Billion 14th Fund

Greylock Partners, the venture capital firm behind Facebook, LinkedIn, Pandora, Workday and others, is reportedly planning to raise a $1 billion fund, Bloomberg Businessweek's Brad Stone and Ari Levi report.

The fund would be the firm's 14th since its founding 48 years ago. Bloomberg BW, which was told about the firm's plans by four sources, thinks Greylock will have no trouble raising the lofty amount.

“These guys have been doing pretty much everything right for a long period of time,” one of Greylock's LPs, Yale CIO David Swensen, tells Stone and Levy. But like any VC firm, Greylock has had some slips. It bet on Groupon about one year before the disastrous IPO as well as Digg before the Reddit-like company fell apart.

The fund would be one of the largest raised. IVP, an investor in Business Insider as well as SnapChat, raised a $1 billion fund last year. Kleiner Perkins and Khosla Ventures also raised an equally large funds.

Greylock Partners is run by former LinkedIn executives David Sze and Reid Hoffman.