Deals
Menlo Ventures Raises $1.35 Billion in Funds for AI Investments
- Funds will focus on nascent startups, early-stage investments
- Artificial intelligence is key focus with Pinecone, Anthropic
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Menlo Ventures, which backs startups including Chime and Harness, has raised $1.35 billion for funds that will invest in technology companies related to artificial intelligence.
The fresh capital will be divided between early-stage fund Menlo XVI and early growth fund Menlo Inflection III, according to Matt Murphy, a partner at Menlo Ventures. Their investment will focus on nascent startups as well as those early in their momentum and will not make later-stage investments, Murphy said.