The recent economic downturn that has plagued almost every sector of the international economy, hasn’t quite been able to deter start up companies from acquiring venture capital, especially in the field of information and technology.

One of the primary investors of world’s leading websites such as, Facebook and LinkedIn, Greylock Partners has announced that, it has successfully created a massive $575 million fund in venture capital in collaboration with Reid Hoffman, the brains behind LinkedIn. This new fund will be readily available for start up companies, that wish to grow and achieve greater heights of success.

However, the impact of the global economic recession has to a large extent shaken the investors and the venture capital firms. Experts believe that, the venture capital investors will slowly be diminished and would be extremely hard to find. The current situation in the financial sector has made it increasingly difficult for the start up companies to take their businesses from drawing boards to board rooms.

According to Andrew K. Golden (President, Princeton University Investment Company),

“It’s clear that Greylock is in the top handful on anyone. As an asset category, venture is not that attractive. But we say investing is like love and tennis — you choose your partner right and everything else takes care of itself.”

Greylock Partners is well renowned for its huge investments in Facebook, Pandora, LinkedIn etc. and is known to be an avid investors, when it comes to start up companies and at the same, the firm also provides supports for the growing companies as well. According to David Sze, who is a partner at Greylock Partners, the $575 million fund will greatly help the firm in providing assistance to upcoming companies, who might have a great idea, but lack the financial resources to put those ideas into practice.

Via New York Times.