Anthology Fund

When we invest, we’re invested. As investors, we don’t just sit on the sidelines, but do whatever it takes to help our teams win.

About Us

Menlo Ventures is celebrating its 50th anniversary and has announced $3 billion in new capital—the largest raise in Menlo’s history—to back the next generation of AI leaders. This includes investments in AI infrastructure, frontier models, and AI-native applications across enterprise, healthcare, and consumer markets.

This isn’t just a motto, but how we show up every day for the companies we back, the investors who back us, and each other. When we win, we win as a team.

Focus Areas

• Artificial Intelligence

  Menlo is ALL IN on AI. Artificial intelligence is breaking into every software vertical, and the winners are creating massive economic and societal value.

• Bio + Healthcare

  Innovations at the intersection of technology and biology will drive major improvements in the quality of our health and the cost of healthcare.

• Consumer

  AI is reshaping the consumer landscape by infusing intelligence into everyday products and services—transforming how people discover, decide, and engage.

• Cybersecurity

  The rise of AI has created a new era of cybersecurity—introducing new challenges as well as entirely new categories.

• Fintech

  As previously siloed financial processes converge within broader software ecosystems, a new wave of opportunity is emerging.

• Infrastructure

  From foundation models to observability, a new generation of companies is writing the playbook for the underlying infrastructure that powers AI applications.

• Robotics + Hardware

  We invest in the robots and next-gen hardware transforming how businesses operate and people live, bringing digital innovation into the physical world.

• SaaS

  The cloud didn’t just change how we deliver software; it unleashed a new era of enterprise innovation, with reimagined software solutions for every industry.

• Supply Chain + Automation

  The global supply chain is undergoing a historic transformation. By rethinking how goods move around the world, we can reduce waste and build a more efficient and sustainable future.

Initiatives

• Anthology Fund

  A $100 million initiative created through a partnership between Menlo Ventures and Anthropic to fuel the next generation of AI startups.

Key Insights

• 2025: The State of Generative AI in the Enterprise

  Companies spent $37 billion on generative AI in 2025, a 3.2x year-over-year increase, marking unprecedented adoption in modern software history.

• 2025: The State of AI in Healthcare

  The $4.9 trillion healthcare industry is now deploying AI at 2.2x the rate of the broader U.S. economy, reversing its historical lag in digital innovation.

• 2025: The State of Consumer AI

  61% of American adults have used AI in the past six months, with nearly one in five relying on it daily. Globally, this translates to 1.7–1.8 billion users, with 500–600 million engaging daily.

Portfolio

The founders we back don’t limit themselves to what is, but relentlessly pursue what could be. We invest in transformative, early-stage tech companies that are changing the way we live and work.