Menlo Ventures Scores $500M Fund

  • General
  • October 15, 2020
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  • 5 minutes read

Venky Ganesan, partner at Menlo Ventures.

Photo credit: JD Lasica, licensed under Creative Commons

Venture capital firm Menlo Ventures has announced that it’s closed its fifteenth early stage investment fund, this time a $500 million fund aptly named “Menlo XV”. Menlo Ventures will make Seed and Series A investments spanning industries like healthcare and consumer and enterprise tech from the new fund, which will be complemented by a $500 million “Inflection Fund” that the firm closed last year to make growth-stage investments.

Menlo Ventures has closed its fifteenth early-stage fund on the heels of significant success for the preceding fourteenth early-stage fund. That fund, Menlo XIV, totaled $450 million and was closed in 2017. In just three years, Menlo reports it as having generated $3.8 billion in value thanks to lucrative exits on companies including 6 River Systems (acquired by Shopify), Scout (acquired by Workday), Fleetsmith (acquired by Apple) and Uber and Roku which both held public listings. From that fund, Menlo Ventures also backed companies like Chime, Carta, Harness, and Poshmark, which are all highly-valued but still private. Poshmark itself in on the cusp of a public listing while Chime recently scored $485 million in funding that pushed its valuation up to $14.5 billion.

Propelled by the success of its fourteenth fund, Menlo Ventures is now back with a slightly bigger fifteenth fund to continue making investments.

Menlo Ventures itself is one of the oldest and most experienced venture capital firms, given it was founded over four decades ago. Over the firm’s 44-year life-span, it’s spurred a portfolio that’s scored more than 70 public companies and 150 acquisitions. Before now, Menlo Ventures is known to have had over $5.5 billion in assets under management.


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