Menlo Ventures launches $3 billion fund, expands into later-stage investing
Menlo Ventures, a major Silicon Valley VC, just dropped its largest fund ever ($3 billion) for AI startups.
The firm, known for backing early-stage companies, is now also going after bigger, later-stage investments.
This move follows its huge win with Anthropic, an AI company that's been turning heads.
Anthropic growth prompts Menlo hires
Menlo's focus on AI really took off after investing $500 million in Anthropic back in 2024 (and another $500 million soon after), which has grown to nearly $14 billion. Managing Partner Shawn Carolan called it a "bet-the-firm moment."
Still, Menlo isn't cruising; it's up against tough competition and rising prices for top AI startups.
To stay ahead, it has brought in new talent like early Glean Technologies Inc. engineer Deedy Das and Atlassian's former Chief Product Officer Joff Redfern to help spot fresh opportunities in this fast-changing landscape.