Anthropic · OpenAI · ChatGPT · Crunchbase News
Anthropic Backer Menlo Ventures Raises $3 billion In New Funds To Back AI Startups Across Stages
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Venture investor Menlo Ventures 1 said Tuesday that it has raised $3 billion in new capital, the largest new raise in the firm’s 50-year history, to back AI-focused startups across enterprise, healthcare and consumer sectors.
Key facts
- Venture investor Menlo Ventures 1 said Tuesday that it has raised $3 billion in new capital, the largest new raise in the firm’s 50-year history, to back AI-focused startups across enterprise
- The Menlo Park, California-based firm highlighted its early investment in Anthropic, which last month overtook rival OpenAI as the top-valued frontier lab in the world with a staggering $965 billion
- Along with Anthropic, other notable Menlo Ventures investments over the years include Uber, Roku, Warby Parker, Siri and Gilead Sciences
- The team made their first investment in Anthropic in 2023, when the company was pre-product, pre-revenue
Summary
The Menlo Park, California-based firm highlighted its early investment in Anthropic, which last month overtook rival OpenAI as the top-valued frontier lab in the world with a staggering $965 billion valuation. “The team made their first investment in Anthropic in 2023, when the company was pre-product, pre-revenue. By then, ChatGPT was a household name, and many believed the LLM race was already decided. The firm went on to lead Anthropic’s Series D the following year. “That early relationship gave us a rare vantage point on the model layer and on the infrastructure, workflows, and application opportunities forming around it,” the firm said this week.