Menlo Ventures has raised $3 billion across two new funds, its largest raise in 50 years, split between an early-stage vehicle and a growth fund for companies scaling at Series B and beyond.
The raise is backed by an Anthropic stake now worth approximately $14 billion, after the firm first backed the AI company in 2023, when it was pre-product and pre-revenue.
Menlo is deploying capital across the full AI stack, from foundation model infrastructure to enterprise and consumer applications, with portfolio companies including Lovable, Suno, Axiom, Goodfire, and Skild AI.
Menlo Ventures announced $3 billion in new capital, its largest raise in 50 years. The money is split across two funds: Menlo Ventures XVII for seed and Series A rounds, and Menlo Inflection IV for companies at Series B and beyond.
According to Bloomberg, Menlo has put roughly $1 billion into Anthropic over the years. Its stake is now worth approximately $14 billion. That return is why this raise was sized this way.
