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Laxman Pai, Opalesque Asia: Silicon Valley early-stage investor Mayfield has raised two funds totaling $955 million targeted for early-stage investment.
The Menlo Park-based firm - known as an early backer of such startups as Lyft, Marketo, and Poshmark - announced its $580 million Mayfield XVII and the $375 million Mayfield Select III funds.
According to a press release from the investment firm, both funds became oversubscribed in a couple of weeks bringing the Firm's total assets under management to $3 billion.
The new capital comes after Mayfield has invested in more than 550 companies across 120 IPOs and 225 acquisitions. Top investments include Poshmark, which was acquired by Naver for $1.2 billion; Mammoth Biosciences; Lyft; and SolarCity, which was acquired by Tesla.
"Mayfield XVII will continue the Firm's early stage focus, primarily investing in companies at the inception or early customer adoption stage (Seed and Series A rounds). Mayfield Select III (aka Mayfield Spring) will invest in follow-on rounds of breakout portfolio companies and new companies (primarily at the Series B round) from outside its portfolio," said the release.
The Firm invests in companies that leverage innovation in both IT and biology. Some themes include human-centered AI, the data economy, the developer-first era, the renaissance of semiconductors, cybersecurity, deeptech, Web3, and human and planetary health, it said.
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