Menlo Ventures Raises $1.35B for AI Investments

The new capital will be invested in AI startups through the firm's flagship venture fund, Menlo XVI, and other affiliated funds.

Menlo Ventures has raised $1.35 billion in new capital, targeting investments in AI startups.
The new funds will be invested out of Menlo XVI, Menlo Inflection III, and their affiliated funds.
Menlo Ventures has already backed AI startups such as Abnormal, Anthropic, Cleanlab, Pinecone, and Typeface.
The firm has raised more than $3.8 billion across eight fund groups and distributed $5.2 billion to its LPs.
Menlo Ventures has made seed and early-stage investments in 24 unicorns across the enterprise, consumer, and healthcare sectors.