- Dek: Menlo Ventures is expanding its AI portfolio at the same time as this relationship.
On July 17, Menlo Ventures and the artificial intelligence company Anthropic announced the opening of the Anthology Fund, a business accelerator.
The fund will get a $100 million first investment, with the goal of helping firms that are focused on creating goods and services with generative AI technology.
Menlo Ventures will supply finance, and Anthropic will grant access to its most recent models and technological support.
Anthology Reserve
In a blog post announcing the collaboration, Anthropic’s co-founder and president, Daniela Amodei, stated that the two teams intended to quicken the creation of innovative artificial intelligence applications.
Amodei went on to say that they are especially interested in business initiatives that use AI to improve productivity and human capacities in industries including healthcare, legal services, education, energy, infrastructure, and scientific research.
The Anthology Fund will concentrate on entrepreneurs in five critical areas: consumer AI solutions, infrastructure, frontier applications, trust and safety, and tech that maximizes social benefits, according to a Menlo Ventures blog post.
Businesses who meet the fund’s eligibility requirements will have access to Menlo Ventures’ networking and partner support, Anthropic’s AI technologies, and a structured support program.
The age of AI
Several AI businesses have received funding from Menlo Ventures, including Siri (which Apple Inc. eventually bought out) and Uber, in addition to being an early backer of Anthropic and a current partner.
More recently, Menlo Ventures contributed $300 million to Carnegie Mellon spinout Skild AI’s series A fundraising round. Leading the funding round were Jeff Bezos (via Bezos Expeditions), SoftBank Group, Lightspeed Venture Partners, and Coatue.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
