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Menlo Ventures launches $100M AI startup accelerator with Anthropic
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2024-07-18 04:07:06
Tristan Greene4 hours agoMenlo Ventures launches $100M AI startup accelerator with AnthropicDek: The partnership comes as Menlo Ventures continues to build out its AI portfolio.474 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksMenlo Ventures announced the launch of a startup accelerator, the “Anthology Fund,” in partnership with artificial intelligence firm Anthropic on July 17.
The fund will receive an initial investment of $100 million and will go towards accelerating startups focused on developing products and services using generative AI technology.
Anthropic will provide access to its newest models and technology support while Menlo Ventures will provide funding.Source:Menlo Ventures.Anthology Fund
Daniela Amodei, co-founder and President of Anthropic, said in a company blog post announcing the partnership that the two teams hoped to “accelerate the development of groundbreaking AI applications.” Amodei added that they’re “particularly interested in ventures that leverage AI to enhance human capabilities and productivity in fields such as healthcare, legal services, education, energy, infrastructure, and scientific research.”
According to a blog post from Menlo Ventures, the Anthology Fund will focus on startups working in five key areas: infrastructure, frontier applications, consumer AI solutions, trust and safety, and tech that “maximizes social benefits.”
Startups qualifying for the fund will receive access to Anthropic’s AI tools, Menlo Ventures’ partner and networking support, and a structured support program.
Per Matt Murphy, Partner at Menlo Ventures:“We are thrilled to join forces with Anthropic to launch the Anthology Fund. By combining Menlo’s company-building experience with Anthropic’s cutting-edge AI technology and talent, we are uniquely positioned to identify and partner with the most promising entrepreneurs shaping the future of AI.”The AI era
Aside from being an early investor in Anthropic and a continuing partner, Menlo Ventures has invested in numerous AI companies including Siri (bought out by Apple Inc.) and Uber.
More recently, Menlo Ventures participated in a $300 million series A funding round for Carnegie Mellon spinout Skild AI. The round was led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions).
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