On July 17, Menlo Ventures announced that it would be partnering with artificial intelligence company Anthropic to launch a startup accelerator called Anthology Fund.
The fund will receive an initial investment of $100 million to support startups focused on developing products and services using generative AI technology.
Anthropic will provide access to the latest models and technical support, while Menlo Ventures will provide funding.
Anthology Fund
In a company blog post announcing the partnership, Daniella Amodei, co-founder and president of Anthropik, said the two teams hope to “accelerate the development of breakthrough AI applications.” Amodei added that they are “particularly interested in ventures that leverage AI to enhance human performance and productivity in sectors 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 operating in five key areas: infrastructure, cutting-edge applications, consumer AI solutions, trust and safety, and technology that “maximizes societal good.”
Startups that qualify for the fund will have access to Anthropic's AI tools, partners and networking support from Menlo Ventures, and a structured support program.
“Menlo is a game changer,” said Matt Murphy, partner at Menlo Ventures.
“We are excited to join forces with Anthropic to launch Anthology Fund. 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
In addition to being an early investor and ongoing partner in Anthropic, Menlo Ventures has invested in a number of AI companies, including Siri (acquired by Apple) and Uber.
Most recently, Menlo Ventures participated in Carnegie Mellon University spinout Skild AI's $300 million Series A funding round, which was led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions).
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