Breaking

Menlo Ventures Raises $3 Billion for AI-Focused Funds

June 23, 2026 at 09:05 EDT

Funding & M&A
Foundation Models

Venture capital firm Menlo Ventures has raised a total of $3 billion across a set of funds dedicated to investing in AI startups, marking the largest fundraising in the firm's history.

Venture Capital · Menlo Ventures

Menlo Ventures Lands $3 Billion — Its Largest-Ever AI Haul

The Anthropic backer raises a record set of funds to bet across AI infrastructure, foundation models and applications — and to push beyond early-stage into later-stage deals.

$3B

Current raise — across multiple AI funds

~$14B

Value of Menlo's Anthropic stake today

$100M

Anthology Fund, run with Anthropic

A record raise — more than double the last one

Largest fundraising in the firm's history

$1.35B

Nov 2023

$3B

Current raise

"Bet-the-firm moment"

Menlo's Anthropic investment started at $500M in 2024 and has grown to roughly $14B in value — with Anthropic itself reportedly valued above $900B.

Enterprise generative AI spend, 2025

$37B

↑ 3.2× year over year

The bet

Close ties to Anthropic, early-support programs and a shift toward direct, later-stage investing across infrastructure, models and apps.

The open question

Deployment details are still to emerge. How far will this record raise accelerate direct, later-stage deals as rivals expand their own AI funds?

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