Menlo Ventures announced the close of $1.35 billion in new capital that will be invested by a flagship venture fund, Menlo XVI; Menlo Inflection III; and their affiliated funds—with a mandate to invest in promising technology companies leading the AI transformation.

With this new capital, they are making a commitment to support the forthcoming generation of AI startups. With their immense potential, these early-stage companies embody the prospect of revolutionary innovation; the best among them will forever change the technology landscape and the human experience.

They build on a strong foundation as they position themselves for the future. Menlo Ventures was founded in 1976 to invest in the technology businesses that would put Silicon Valley on the map. Under their current leadership, the firm has earned a reputation as an expert early-stage investor, recognized for making bets on Uber, Roku, and Siri long before they became household names. The new funds are just the latest milestone in Menlo’s record run.

Beginning in 2010, the firm:

• Raised over $3.8 billion across eight fund groups and distributed $5.2 billion to limited partners.
• Guided more than 80 companies to exits, including 15 public offerings and more than 65 acquisitions (representing over $10 billion in enterprise value).
• Made seed and early-stage investments in 24 unicorns across enterprise, consumer, and healthcare.
• Grew our team to 19 investors whose work is amplified by a portfolio services team of six functional experts, known as Menlo’s Fuel team.

Now, in this new AI era, they are recognized for their technical expertise, industry connectivity, and impressive portfolio of AI investments, which include Abnormal, Anthropic, Cleanlab, Pinecone, and Typeface. AI represents a seismic shift that will add trillions of dollars in value to the global economy, and Menlo will help write the next chapter.