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The startup’s new round led by Menlo Ventures surprised some industry insiders for its form of a special purpose vehicle and its function to help price bets by giants Amazon and Google.
Artificial intelligence startup Anthropic is reportedly in talks to raise $750 million with the help of Menlo Ventures.
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Menlo Ventures has raised $1.35 billion to back AI firms, which will be split between early-stage fund Menlo XVI and early growth fund Menlo Inflection III.
Menlo Ventures announced the firm has raised $1.35 billion in new capital that will be invested by Menlo’s flagship venture fund Menlo XVI and Menlo Inflection III and their affiliated funds, with a mandate to invest in promising technology companies leading the AI transformation.