Menlo Ventures Raises $450 Million Fund

 

The Menlo Ventures team: Shawn Carolan, Managing Director; Matt Murphy, Managing Director; Mark Siegel, Managing Director; Venky Ganesan, Managing Director; and Jordan Ormont, Talent Partner. (PRNewsfoto/Menlo Ventures)

The Menlo Ventures team: Shawn Carolan, Managing Director; Matt Murphy, Managing Director; Mark Siegel, Managing Director; Venky Ganesan, Managing Director; and Jordan Ormont, Talent Partner.

MENLO PARK —¬†Menlo Ventures says it has closed Menlo Ventures XIV, a $450 million fund dedicated to investing primarily in early-stage consumer, enterprise and frontier technologies. The funding now brings the firm’s total capital to over $5 billion under management.

“Menlo’s emphasis on early-stage investing in our main funds is a strategy that’s working,” said managing director Mark Siegel. “Our focus is on deep, analytical research in fast-moving core areas like Marketplaces, Cloud Infrastructure, SaaS, Fintech and Cybersecurity. We are also digging into new frontier areas that will create massive technological shifts such as artificial intelligence, computational biology, robotics and drone technology.”

Menlo’s latest fund coincides with the firm’s opening of an office in San Francisco, where the entire team splits time together and its Menlo Park headquarters.

“Our core team is dedicated to operating within this hub for talent as we expand our Fuel services program, host events, and work together more flexibly and collaboratively than a traditional venture capital firm,” said managing director Venky Ganesan. “The expansion to San Francisco will strengthen our partnerships with the next generation of entrepreneurs.”

Menlo begins the new fund with strong momentum in its current portfolio including consumer companies like Machine Zone, Uber, Stance, Rover.com, Poshmark, Roku, eero and Warby Parker, cybersecurity companies like BitSight, SaaS companies like Heap, Overops and Signifyd, and fintech fast movers like Betterment, Bluevine, and RealtyShares.  Early bets on frontier technologies include Clarifai in the AI sector, Dedrone in cybersecurity, and Synthego in computational biology.