Menlo Raises $3B for AI Funds; Anthropic Stake Worth
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- Menlo Ventures raised $3B for funds dedicated to backing AI startups, its largest fundraise to date, per Bloomberg reporting.
- Sources tell Bloomberg that Menlo's Anthropic stake is currently worth nearly $14B.
- In 2024, Menlo made what the source calls a "risky decision" to raise $500M specifically to invest in Anthropic PBC.
- The $500M Anthropic investment was structured as a dedicated vehicle raised outside Menlo's main funds.
- Bloomberg reporter Natasha Mascarenhas broke the story, framing the original Anthropic bet as a contrarian move at the time.
Why it matters: Menlo's existing Anthropic stake at ~$14B dwarfs its new $3B AI fundraise, showing how a single 2024 bet on Anthropic became the firm's most valuable position by a wide margin and underscoring how concentrated AI venture paper wealth has become for early movers.
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