Venrock Raises Whopping $650M, Expanding Fund Size After 10 Years

TL;DR: Venrock, one of Silicon Valley’s oldest and most respected venture capital firms, has raised $650m for its tenth fund, the largest it has raised in over a decade. The firm plans to use the additional funding to invest in later-stage venture rounds to support companies in its portfolio that are struggling to find new investors. Venrock partner Bryan Roberts said the firm had got “lucky” in its ability to sell some 85% of its public stock positions before market conditions changed. The technology landscape has now shifted considerably, with a number of high-profile start-ups closing down after being unable to raise further funding.