Why Greylock capped its new fund at $1.5B when it says it could have raised more
THE SO WHAT
A $1.5B cap and ~25 checks per fund is a bet that partner time, not capital, is the scarce resource in early-stage. If you’re raising or allocating now, assume the best firms will trade check size for attention and expect you to do more with less money but more direct help.
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