Menlo Ventures raised $3 billion（約4800億円）, its largest fund in 50 years, citing its early bet on Anthropic—now valued at $965 billion（約150兆円）—as proof that early-stage AI startup picks can anchor a broader strategy.

Crunchbase News AI9h ago2 min read

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3 Key Points

What happened
Menlo Ventures, a Menlo Park–based venture investor, announced a $3 billion（約4800億円） capital raise split across two funds: Menlo Ventures XVII for seed and Series A startups, and Menlo Inflection IV for Series B and later-stage companies. The firm highlighted its 2023 investment in Anthropic when it was pre-product and pre-revenue, followed by leading Anthropic's Series D.
Why it matters
Anthropic recently overtook OpenAI as the top-valued frontier AI lab with a $965 billion（約150兆円） valuation, validating Menlo Ventures' early conviction that there was room for another independent foundation model company. The firm positions this new capital to back AI startups across enterprise, healthcare, and consumer sectors, using Anthropic as a model for what early-stage AI bets can become.
What to watch
Anthropic has filed plans for a 2026 IPO with an expected target valuation of $1 trillion（約160兆円） or more, which would be by far the largest exit in Menlo Ventures' portfolio history. The new funds will focus on startups already pulling away from the pack and positioning to become breakout names of the AI era.

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