Menlo Ventures has announced a $1.35 billion capital raise.
The private equity firm said the new funding would be invested by its flagship venture fund Menlo XVI and Menlo Inflection III and their affiliated funds, with a mandate to invest in promising technology companies “leading the AI transformation”.
Partner at Menlo Ventures Venky Ganesan said in light of the fresh capital the company’s central focus would be on supporting the forthcoming generation of AI startups.
No stranger to the AI market, Menlo has previously invested in Anthropic, Lindy, and clarifai.
“Focusing on AI, we will continue on our mission to identify outlier companies before they are obvious, to back and build category leaders, and to support them as they grow,” he said. “With their immense potential, early-stage AI startups embody the prospect of revolutionary innovation.”
Menlo Ventures partner Shawn Carolan commented that it was an exciting time to be involved in venture capital.
“The entire tech sector is buzzing with excitement for what’s to come,” he said. “AI will introduce entirely new categories of products and supercharge existing ones.”
Latest News
-
UBS appoints chief AI officer to boost AI strategy
-
HSBC rolls out acquiring platform
-
Frasers Group uses ACP to complete direct purchases within genAI chatbots
-
BBVA’s bid for Sabadell collapses as chairman Carlos Torres vows to stay
-
Deutsche Bank, ING and Santander join Mastercard cyber defence exercise
-
Santander to merge Openbank and Santander Consumer Finance
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories