Menlo Ventures Raises Record $3 Billion as Anthropic Stake Reaches $14 Billion
Updated
Updated · TechCrunch · Jun 23
Menlo Ventures Raises Record $3 Billion as Anthropic Stake Reaches $14 Billion
3 articles · Updated · TechCrunch · Jun 23
Summary
$3 billion in new funds marks Menlo Ventures' biggest raise in its 50-year history, with the firm saying its AI portfolio—led by Anthropic—powered the haul.
Anthropic is the key driver: Menlo's stake is now worth about $14 billion after it led a $750 million 2024 round that valued the startup at $18.4 billion.
That 2024 bet was financed unusually for the time, with about $500 million raised through a special purpose vehicle and roughly $250 million coming from Menlo's fund and insiders.
Menlo kept doubling down through Anthropic's later Series E and F rounds and a joint startup fund, Anthology, which has deployed closer to $250 million across more than 60 companies.
The raise underscores how a once-contrarian AI wager helped turn Menlo into a broader AI investing force, with holdings including OpenRouter, Higgsfield, Legora, Lovable and OpenEvidence.
Anthropic is now worth $965 billion. What makes an AI company truly defensible beyond just its model?
With AI absorbing 80% of venture capital, is the tech industry building a bubble or its next foundation?
As AI divides engineers into 'craftsmen' and the 'lazy,' how can professionals avoid becoming obsolete?
Menlo Ventures’ $3 Billion Raise: High-Conviction AI Bets, Anthropic, and the Next Wave of Innovation
Overview
In June 2026, Menlo Ventures announced a record $3 billion capital raise, the largest in its 50-year history. This major infusion elevated the firm’s total capital under management to over $8.5 billion and reinforced its aggressive, forward-looking strategy focused on artificial intelligence. The new funding significantly boosts Menlo Ventures’ ability to identify and support the next generation of AI innovators, strengthening its leadership in the venture capital landscape. This move highlights Menlo’s deep commitment to AI and positions the firm at the forefront of investing in transformative technologies.