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Laxman Pai, Opalesque Asia: Menlo Ventures has raised $1.35 billion for funds that will invest in technology companies related to artificial intelligence.
The new capital will be split between early-stage fund Menlo XVI and early growth fund Menlo Inflection III, according to a press release from the Bay Area venture capital firm that invests early stage across consumer, enterprise, and healthcare technologies. Their investment will focus on nascent startups as well as those early in their momentum and will not make later-stage investments.
"With this $1.35 billion in new capital, we're committing to support the forthcoming generation of AI startups," said Venky Ganesan. "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. With their immense potential, early-stage AI startups embody the prospect of revolutionary innovation. The best among them will forever change the technology landscape and the human experience."
Founded in 1976, Menlo Ventures has earned a reputation as an expert early-stage investor known for making bets on Uber, Roku, and Siri long before they became household names. In the new AI era, the firm has become recognized for deep technical expertise, industry connectivity, and an impressive AI portfolio.
"Generative AI represents a seismic shift that will add trillions of dollars in value to the global economy. Menlo Ventu...................... To view our full article Click here
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