computer-science
After betting the firm on Anthropic, Menlo Ventures raises victorious $3B fund
Key takeaways
- Menlo Ventures announced $3 billion in funds on Tuesday, the largest raise in its 50-year history, driven in large part by its AI portfolio, especially Anthropic.
- To hear the folks at Menlo talk about it, they were white-knuckling it when they made a bet-the-firm $750 million investment in Anthropic in 2024, preemptively leading the model maker s Series D.
- While the bet itself was arguably not wildly risky, the means by which the firm raised that kind of capital was more so.
Menlo Ventures announced $3 billion in funds on Tuesday, the largest raise in its 50-year history, driven in large part by its AI portfolio, especially Anthropic. Its stake in the model maker is now worth about $14 billion, sources told Bloomberg.
To hear the folks at Menlo talk about it, they were white-knuckling it when they made a bet-the-firm $750 million investment in Anthropic in 2024, preemptively leading the model maker s Series D. At the time, that round quadrupled the startup s valuation to $18.4 billion.
While the bet itself was arguably not wildly risky, the means by which the firm raised that kind of capital was more so.
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