Big Appetite: Greylock Sends Entrepreneurs a Message with Expanded $1 Billion Fund

In case you missed it, being a super angel is officially passe. The new hotness is having a late-stage growth cash. Sequoia Capital is doing it. Andreessen Horowitz is doing it. Kleiner Perkins Caufield & Byers is doing it. Accel is doing it. Hell, even Chris Sacca is somehow doing it. Greylock is the latest to officially join the club, with news today of an expansion to its current fund, bringing the total to $1 billion-- almost double its original $575 million size. The firm will be able to invest up to $200 million per deal. But other than having more cash on hand, not much else at Greylock is changing. The firm has been doing growth deals already, most notably Pandora, which has filed to go public and the recent Groupon mega-deal.