Menlo Ventures Raises Record $3 Billion Fund, Fueled by Bet on Anthropic
Menlo Ventures has announced a record $3 billion fundraising effort, marking the largest in its 50-year history, significantly bolstered by its investments in AI, particularly Anthropic. The firm’s stake in Anthropic is valued at approximately $14 billion following a pivotal $750 million investment made in 2024, which helped quadruple the startup’s valuation to $18.4 billion. The investment, structured as a special purpose vehicle, was notable given the VC landscape at the time, which was recovering from a downturn. Menlo has since further invested in Anthropic's Series E and F rounds and launched a $100 million startup fund, Anthology, which has expanded to nearly $250 million, supporting over 60 companies and generating significant returns. Menlo's strategy has positioned it as a key player in the AI investment space.