Menlo Ventures raises $3 billion for its largest venture fund to date to back AI startups

Menlo just raised $3B in new capital, our largest pool of capital yet, on our 50th year in business!

Its been an amazing run for us in the past few years: Anthropic (since the C), Suno, Lovable, Wispr, OpenRouter, Higgsfield, OpenRouter, Neon (acq Databricks), Fleet, Modal, Gimlet, Prime Intellect, Clerk, Chai Discovery, Goodfire, Grow Therapy, OpenEvidence, Legora, Skild, Mercor, Axiom, Graphite (acq Cursor), Sana (acq Workday), Orb (acq Adyen) and many more.

The climate of venture has changed significantly in the past 10yrs, but we still take the view that it is still a game of pickers: we do an avg of ~2 investments per partner per year, and invest in every stage from seed to Series X.

And our partners like Tim Tully, CTO of Splunk, Joff Redfern, CPO of Atlassian, Matt Kraning, a founder who sold a $1B+ co and myself have built, bought and sold companies and spend all our time helping our investments succeed.

Just like startups, fundraising is not the goal. This is still day 0. For all the hits, we’ve had many misses, and those hurt the most. We’re humble to know how much work is left to be done and curious to react to the changing market, and hungry to be the most loved partner to founders.

Menlo just raised $3B in new capital, our largest pool of capital yet, on our 50th year in business!

Its been an amazing run for us in the past few years: Anthropic (since the C), Suno, Lovable, Wispr, OpenRouter, Higgsfield, OpenRouter, Neon (acq Databricks), Fleet, Modal, Gimlet, Prime Intellect, Clerk, Chai Discovery, Goodfire, Grow Therapy, OpenEvidence, Legora, Skild, Mercor, Axiom, Graphite (acq Cursor), Sana (acq Workday), Orb (acq Adyen) and many more.

The climate of venture has changed significantly in the past 10yrs, but we still take the view that it is still a game of pickers: we do an avg of ~2 investments per partner per year, and invest in every stage from seed to Series X.

And our partners like Tim Tully, CTO of Splunk, Joff Redfern, CPO of Atlassian, Matt Kraning, a founder who sold a $1B+ co and myself have built, bought and sold companies and spend all our time helping our investments succeed.

Just like startups, fundraising is not the goal. This is still day 0. For all the hits, we’ve had many misses, and those hurt the most. We’re humble to know how much work is left to be done and curious to react to the changing market, and hungry to be the most loved partner to founders.