Menlo Ventures secured $3 billion in new capital to invest in artificial intelligence startups. This fundraising marks the largest haul in the firm's 50-year history.
The firm divided the capital between two new vehicles: Menlo Ventures XVII for early-stage companies and Menlo Inflection IV for later-stage growth investments.
The move follows a successful early investment in Anthropic, a primary rival to OpenAI. Menlo’s stake in Anthropic is now valued at nearly $14 billion.