Menlo is set to announce that it’s raised $3 billion for a set of funds dedicated to backing AI startups, marking the venture firm’s largest fundraising haul to date. As part of that, Menlo, historically focused on backing newer startups, also intends to pursue more later-stage bets similar in size to its Anthropic investment.

Menlo is set to announce that it’s raised $3 billion for a set of funds dedicated to backing AI startups, marking the venture firm’s largest fundraising haul to date. As part of…

Menlo has created a solid rep for itself as an AI investor, all based on one gutsy $750 million move in 2024.