Greylock Closes $575M Fund, Hires Reid Hoffman

Venture capital firm Greylock Partners said Monday that it has closed Greylock XIII, a $575M, venture capital fund, and also hired on LinkedIn's Reid Hoffman as an investing partners. According to Greylock, the new fund will go to investments in enterprise and consumer software, services and infrastructure. Hoffman will remain active in LinkedIn as Executive Chairman, but will be involved at Greylock as a partner, investing in early-stage consumer Internet and software ventures.