Menlo Ventures and Anthropic’s $100M AI Fund

TL;DR:

• Menlo Ventures and Anthropic join forces to create a $100M AI fund, the Anthology Fund.
• The fund aims to invest in pre-seed and Series A AI companies, fostering innovation in Asia.
• Startups can apply online and receive funding and credits to use Anthropic’s models.

Menlo Ventures and Anthropic: A Powerful AI Partnership

Silicon Valley venture capital firm Menlo Ventures and artificial intelligence startup Anthropic have teamed up to create a $100 million initiative called the Anthology Fund. This partnership aims to invest in and support pre-seed and Series A artificial intelligence companies, with a focus on fostering innovation in Asia.

The Anthology Fund: A Carve-Out from Menlo’s Latest Vehicle

The capital for the Anthology Fund comes from a carve-out of Menlo’s latest $1.35 billion vehicle, raised in November 2022. Matt Murphy, a partner at Menlo Ventures, shared that the firm is one of Anthropic’s biggest investors and is eager to collaborate on identifying and supporting AI-first startups.

Investing in AI Startups: The Anthology Fund’s Approach

The Anthology Fund will provide funding starting at $100,000 to selected startups, along with $25,000 worth of credits to use Anthropic’s models. To apply, startups can submit an online form, which will be evaluated using Menlo’s proprietary machine learning tool. The diligence process for these companies is expected to be more streamlined than a typical investment by the firm.

Supporting Promising AI Startups

Menlo Ventures plans to back any subsequent rounds raised by promising Anthology Fund companies. This ongoing support will help these startups grow and contribute to the rapidly evolving AI landscape in Asia.

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• To lean more about anthropic tap here.