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At a glance
Menlo Ventures appears in 16 funding rounds tracked by ValueAddVC since 2025, leading 5. Its most frequent sectors in these rounds are AI & Infrastructure and Health & Biotech, and its most recent tracked deal was Meticulous' $15M Series A round (Oct 9, 2026). It co-invests most often with Accel, Bain Capital Ventures and General Catalyst. ValueAddVC also tracks 7 funds managed by Menlo Ventures.
Strategy
Stages
SeedSeries ASeries B
Sectors
EnterpriseAICybersecurityHealthcare
Geographies
USAMenlo Park, California, USA
Check size
$1M–$50MRecent changes
- Oct 9, 2026Oct 9, 2026Invested in Meticulous (Series A, $15M) Pulse 2.0
- Oct 7, 2026Oct 7, 2026Invested in Nous Research (Series B, $90M) TechCrunch
- Oct 5, 2026Oct 5, 2026Menlo Backs Factory Right After Its Khosla Blowup Pulse story
- Oct 1, 2026Oct 1, 2026Invested in Armadin (Series B, $255.5M) TechCrunch
- Sep 23, 2026Sep 23, 2026Invested in Basecamp Research (Series C, $140M) PR Newswire
Earlier changes (15)
- Sep 5, 2026Sep 5, 2026Check size updated: $1M–$50M menloventures.com
- Sep 5, 2026Sep 5, 2026Sectors updated: Enterprise, AI, Cybersecurity, Healthcare menloventures.com
- Sep 5, 2026Sep 5, 2026Stages updated: Seed, Series A, Series B menloventures.com
- Sep 4, 2026Sep 4, 2026Invested in Gimlet Labs (Series B, $300M) GlobeNewswire
- Aug 17, 2026Aug 17, 2026Invested in Wispr Flow (Series B, $280M) TechCrunch
- Aug 13, 2026Aug 13, 2026Invested in Heaviside (Series B, $60M) Tech Funding News
- Aug 12, 2026Aug 12, 2026Follow-on: Invested in Lovable (Series C, $400M) TechCrunch
- Aug 3, 2026Aug 3, 2026Menlo Ventures Calls This a 'Rare Land-Grab Moment' in AI Pulse story
- Jul 28, 2026Jul 28, 2026New fund: Menlo LV Partners (target $40M) SEC EDGAR Form D
- Jul 22, 2026Jul 22, 2026Anthropic Hits $47B Revenue Run Rate, Menlo Says Pulse story
- Jul 16, 2026Jul 16, 2026Menlo Ventures Posts 40%+ IRR After Anthropic Bet Pulse story
- Jul 14, 2026Jul 14, 2026Invested in Chai Discovery (Series C, $400M) Law360
- Jun 24, 2026Jun 24, 2026Invested in Assort Health (Series C, $120M) Menlo Ventures
- Jun 24, 2026Jun 24, 2026Menlo Ventures Raises $3B -- Its Largest Fund Ever -- After Its Anthropic Bet Turned Into ~$14B Pulse story
- Jun 10, 2026Jun 10, 2026Invested in Modal Labs (Series C, $355M) Crunchbase News
Funds
7| Fund | Vintage | Size | Strategy | Source |
|---|---|---|---|---|
| Menlo LV Partners | 2026 | $3B | Flagship | As of Jun 2026SEC EDGAR Form D |
| Menlo Ventures Venture Fund XVII | 2025 | target $700M | Venture | As of Aug 28, 2025SEC EDGAR Form D |
| Menlo Anthropic Economic Futures Fund | 2024 | $100M | Otherco-investment fund with Anthropic backing AI startups | As of Jul 2024TechCrunch |
| Menlo Ventures Fund | 2023 | $1.35B | FlagshipAI startups | As of Nov 2023TechCrunch |
| Menlo Ventures Venture Fund XVI | 2022 | target $25M | Venture | As of Dec 18, 2023SEC EDGAR Form D |
Show 2 earlier funds
| Fund | Vintage | Size | Strategy | Source |
|---|---|---|---|---|
| Menlo Ventures XV | 2021 | $5M | Side vehicleSide vehicle (parallel, feeder, affiliate or SPV) — not the flagship close | As of Jan 25, 2021SEC EDGAR Form D |
| Menlo Ventures Venture Fund XIV | 2017 | $450M | Venture | As of May 18, 2017SEC EDGAR Form D |
Portfolio
15 totalRecent Investment Activity
16Track record: led 5 and participated in 11 of 16 tracked venture rounds · 14 in the last 12 months · led 2 Series B, 2 Series C, 1 Series A
Sector / Stage Activity
By sector (portfolio)
AI infra
7 · 47%
Biotech
2 · 13%
Enterprise SaaS
1 · 7%
Healthcare AI
1 · 7%
Defense
1 · 7%
Developer tools
1 · 7%
Consumer AI
1 · 7%
By stage (tracked rounds)
Series B
6 · 38%
Series C
5 · 31%
Series A
2 · 13%
Series D
2 · 13%
Series E
1 · 6%
Co-Investors
12Accel · 5 sharedKleiner Perkins · 4 sharedNvidia · 4 sharedAndreessen Horowitz · 3 sharedBain Capital Ventures · 3 sharedDST Global · 3 sharedFelicis Ventures · 3 sharedLightspeed Venture Partners · 3 sharedAcrew Capital · 1 sharedGoodwater Capital · 1 sharedMongoDB Ventures · 1 sharedTrue Ventures · 1 shared
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Latest Pulse
- Oct 14, 2026Modal Confirms $750M Series D, Crosses $1B Annualized RevenueModal Labs has closed the $750 million Series D at a $15.75 billion valuation first reported as pending in September, and says the AI infrastructure company has now crossed $1 billion in annualized revenue.→
- Oct 9, 2026Meticulous Raises $15M To Automate Software TestingMeticulous raised a $15 million Series A led by Chemistry to expand its autonomous software-testing platform as AI coding agents accelerate the pace of code shipped.→
- Oct 8, 2026Harness Acquires Augment Code's Cosmos AI ToolsHarness acquired select assets from Augment Code, including its Cosmos software-factory agent and Auggie CLI tools, with the product team joining Harness.→
- Oct 7, 2026Nous Research Confirms $1.5B Valuation, Launches HermesNous Research confirmed it closed a $90 million Series B at a $1.5 billion valuation, settling what was reported in July as talks, and launched Hermes for Businesses to push into enterprise AI agents.→
- Oct 5, 2026Menlo Backs Factory Right After Its Khosla BlowupDays after a public dispute between Factory's CEO and Khosla Ventures, Menlo Ventures joined Factory's round at a $5 billion valuation -- a pointed show of confidence in a company whose own backer just called it second-tier.→
- Sep 23, 2026Anthropic's Claude Discovers A Novel Enzyme SystemAnthropic's new life-sciences lab used a swarm of Claude agents to identify a previously uncharacterized enzyme system with CRISPR-like DNA repeats, the first result from a group testing whether AI can accelerate biological discovery.→
- Sep 23, 2026Basecamp Research Raises $140M Led By S32Basecamp Research raised a $140 million Series C led by Bill Maris's S32, with Nvidia and Menlo Ventures' Anthology Fund among the backers, to train a new generation of its EDEN foundation models and push AI-designed therapeutics into clinical development.→
- Sep 11, 2026Mecka AI Nears $500M On Robot Data RushMecka AI, which pays crowdsourced workers to record everyday tasks for training humanoid robots, is nearing a Sequoia-led round at close to a $500 million valuation.→
- Sep 9, 2026Listen Labs Ditches Term Sheet For Salesforce DealListen Labs walked away from a signed $125 million Series C term sheet at a $1.5 billion valuation to pursue a sale to Salesforce reportedly worth around $2 billion; Salesforce signed a definitive agreement to acquire the company on September 29 without disclosing the price.→
- Sep 4, 2026Gimlet Labs Hits $3B Valuation on Chip-Agnostic AI BetAndreessen Horowitz led a $300 million round for the startup that lets AI workloads run across Nvidia, AMD, and custom silicon interchangeably, with Arm and Microsoft's M12 joining as new backers.→
- Sep 2, 2026August's Megarounds Went to Missiles and InferenceIn a single mid-August week, six US startups raised $2.63 billion between them, and the two largest -- a hypersonic missile maker and an inference chip company -- accounted for $1.5 billion of it.→
- Aug 17, 2026Stripe Pays Over $7 Billion for AI Router OpenRouterStripe finalized a deal to acquire OpenRouter, the AI model routing startup, for more than $7 billion -- over 5x the $1.3 billion valuation OpenRouter carried three months ago after its Series B.→
- Aug 17, 2026Wispr Raises $280M at $2B on Voice AI BetVoice AI startup Wispr raised a $280 million Series B led by Menlo Ventures at a $2 billion valuation, more than six times its prior mark, as it expands from dictation into meeting notes and other text-box replacements.→
- Aug 17, 2026Wispr Flow Raises $280M at $2B ValuationWispr Flow raised a $280 million Series B led by Menlo Ventures at a $2 billion valuation, bringing total funding to $361 million less than ten months after its prior round, and previewed a proprietary speech model that cuts word-error rates from over 30% to as low as 5%.→
- Aug 17, 2026Defense Tech's Funding Boom Still Has Room to RunAnduril's talks for a $100 billion valuation, up from $61 billion two months ago, are the headline, but the real story is how deep the defense-tech funding bench has gotten behind it.→
- Aug 17, 2026August's Mega-Rounds Have Already Cleared $9BFive disclosed rounds in the first two weeks of August 2026 -- Databricks, Firmus, River AI, Lovable and Form Energy -- total roughly $9.25 billion, with data infrastructure and AI compute taking three quarters of it.→
- Aug 13, 2026Anthropic's CFO Starts Courting IPO InvestorsAnthropic CFO Krishna Rao has begun early, informal meetings with prospective IPO investors, though he has not discussed valuation -- the $2 trillion figure circulating on Wall Street comes from investors' own math, not from Anthropic.→
- Aug 13, 2026Heaviside's Valuation Jumps 21x in Three MonthsPrecision-munitions startup Heaviside raised a $60 million Series B at a $600 million valuation, more than 21 times its Series A price three months ago, and partnered with Norwegian defense manufacturer Nammo to supply warheads.→
- Aug 12, 2026Lovable Confirms $13.3B Valuation, Raises Another $400MVibe-coding startup Lovable closed a $400 million Series C at a $13.3 billion valuation, doubling its worth from December, after crossing $500 million in annualized revenue and projecting $600 million by month's end.→
- Aug 12, 2026Lovable Doubles Valuation to $13.3B in Eight MonthsSwedish vibe-coding startup Lovable raised $400 million at a $13.3 billion valuation, doubling its worth in eight months as annualized revenue approaches $600 million.→
- Aug 5, 2026Klaviyo Acquires Elias Torres' AI Startup AgencyKlaviyo agreed to acquire Agency, the three-year-old AI customer-success startup founded by Elias Torres, who backed Klaviyo's 2015 seed round as an angel and will now join as chief product officer.→
- Aug 4, 2026Obsidian Security Raises $85M, Crosses $1.1B ValueObsidian Security raised an $85M Series D led by Crescent Cove Advisors at a $1.1B valuation, becoming a unicorn on demand for securing AI agents and non-human identities inside enterprises.→
- Aug 3, 2026Menlo Ventures Calls This a 'Rare Land-Grab Moment' in AIMenlo Ventures partner Matt Murphy says the firm is putting $3 billion in fresh capital to work on the belief that AI's current phase is a rare, short-lived land-grab window rather than a normal cycle to wait out.→
- Aug 3, 2026The Register Says the AI Bubble Is Already Popping, QuietlyA widely discussed Register piece argues the AI bubble is already deflating beneath the surface, even as headline valuations keep climbing -- landing the same week a leveraged AI hedge fund unwound.→
- Jul 22, 2026Anthropic Hits $47B Revenue Run Rate, Menlo SaysAnthropic's revenue run rate reached $47 billion by May, up from $9 billion in 2025, according to backer Menlo Ventures -- growth its own partner says he's never seen in 25 years of investing.→
- Jul 18, 2026Databricks' $188B Mark Tests the Private-Public GapValue Add Pulse analysis: Databricks tripled its valuation to $188B in 19 months without a single public trading day, making it the clearest test of whether private AI marks survive contact with public markets.→
- Jul 18, 2026What SpaceX's 105x Multiple Means for the IPO PipelineValue Add Pulse analysis: SpaceX's median analyst target implies a 105x revenue multiple even after a 42% post-IPO decline, a comp every AI-adjacent IPO hopeful will now be measured against.→
- Jul 17, 2026Apple's Trade-Secrets Suit Threatens OpenAI's IPOApple's trade-secrets lawsuit against OpenAI, alleging its hardware chief directed former Apple staff to bring 'actual parts' to interviews, has already cut Wall Street's odds of a 2026 OpenAI IPO from roughly 22% to 18.5%.→
- Jul 17, 2026IPO Party Faces Down Volatility, Sinking SpaceXNewcomer's weekly analysis asks whether 2026's red-hot IPO window can survive SpaceX's post-listing stock collapse and a broader volatility spike, with several AI-adjacent companies still queued to list this year.→
- Jul 16, 2026Fireworks Raises $1.505B Series D at $17.5B ValuationFireworks closed a $1.505 billion Series D led by Atreides Management, Index Ventures and TCV as its annualized revenue crossed $1 billion, more than doubling its prior valuation to $17.5 billion in five months.→
- Jul 16, 2026Menlo Ventures Posts 40%+ IRR After Anthropic BetMenlo Ventures is seeing IRR above 40% on recent funds after its roughly $1 billion cumulative bet on Anthropic grew into a $14 billion stake, the firm's largest position ever by a wide margin.→
- Jul 8, 2026Lovable in Talks to Double Valuation to $13.2BAI coding startup Lovable is reportedly in talks to raise at a $13.2 billion valuation, double its December mark, with Menlo Ventures fresh off a $3 billion fund said to be leading.→
- Jun 24, 2026Assort Health Raises $120M Series C at a $1.2B Valuation for Healthcare AI AgentsAssort Health raised a $120 million Series C led by Menlo Ventures at a $1.2 billion post-money valuation, vaulting the patient-access automation startup into unicorn territory. Its AI agents handle scheduling, intake, referrals, document processing and front-desk support for healthcare providers -- one of the clearest examples of AI moving from chatbot demos to embedded, revenue-bearing clinical workflows.→
- Jun 24, 2026Valor Equity Partners Looks to Raise a $2.5B Fund VII on Its SpaceX and Anduril MarksAntonio Gracias's Valor Equity Partners is raising a $2.5 billion Fund VII, per Bloomberg -- a step up from the $2.35 billion Fund VI it closed in 2024. A long-time backer of Elon Musk's companies, Valor has reserved part of the new fund for additional SpaceX investment, where it owns roughly 4% of the now-public rocket maker.→
- Jun 24, 2026Menlo Ventures Raises $3B -- Its Largest Fund Ever -- After Its Anthropic Bet Turned Into ~$14BMenlo Ventures closed $3 billion in new capital, the largest fundraise in the firm's 50-year history, on the strength of a 2024 bet on Anthropic that is now worth roughly $14 billion. The Silicon Valley firm 'white-knuckled it' to lead a $750 million round in the AI lab two years ago; that conviction call has become one of the defining venture wins of the cycle.→
Menlo Ventures FAQ
How large are Menlo Ventures' funds?
Menlo Ventures funds Value Add tracks include Menlo LV Partners ($3B, 2026); Menlo Anthropic Economic Futures Fund ($100M, 2024); Menlo Ventures Fund ($1.35B, 2023); Menlo Ventures Venture Fund XIV ($450M, 2017), out of 7 Menlo Ventures funds tracked in total.
What companies has Menlo Ventures invested in?
Menlo Ventures' portfolio includes Modal Labs, Anthropic, Meticulous, Nous Research, Armadin, Basecamp Research, and 9 more tracked companies.
Who does Menlo Ventures co-invest with most?
In the rounds Value Add tracks, Menlo Ventures most often invests alongside Accel (5 shared deals), Kleiner Perkins (4 shared deals), Nvidia (4 shared deals), Andreessen Horowitz (3 shared deals), Bain Capital Ventures (3 shared deals).
Sources & methodologyshow
Where these figures come from
- GlobeNewswireprimary source1 fact
- PR Newswireprimary source1 fact
- PR Newswireprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.