This news comes as other well-known firms are also raising significant capital. Khosla Ventures is reportedly close to raising $3bn across three funds, and Coatue has raised $1.4bn for a companion fund to its growth fund. Despite the venture market trending downward, many in the industry see this as an increased opportunity.
Key takeaways:
- Menlo Ventures has raised $1.35 billion in new capital to invest in its flagship venture fund, Menlo XVI, and other affiliated funds.
- The firm plans to invest in promising technology companies leading the AI transformation.
- Since 2010, Menlo Ventures has raised more than $3.8 billion across eight fund groups and distributed $5.2 billion to limited partners.
- Other firms such as Khosla Ventures and Coatue have also recently raised significant funds, despite the venture market trending downward.