Anthropic and Menlo Ventures Unveil $100M Fund to Accelerate AI Startup Innovation
The fund will furnish startups not just with $25,000 in credits for employing Anthropic's AI models, but also with mentorship.
Anthropic, an AI research lab, in partnership with venture capital firm Menlo Ventures, has unveiled the Anthology Fund, a $100 million initiative aimed at investing in early-stage AI startups. This fund is set to focus on pre-seed, seed, and Series A companies that are creating AI applications in diverse sectors such as healthcare, education, and scientific research.
The fund's name, "Anthology," reflects its goal of bringing together diverse AI innovators to create something extraordinary. As AI continues to evolve rapidly, the Anthology Fund aims to play a crucial role in shaping its responsible development and application.
"We want to accelerate the development of groundbreaking AI applications," said Daniela Amodei, co-founder and President of Anthropic. "We're looking for ventures that use AI to boost human capabilities and productivity in fields like healthcare, legal services, education, energy, and infrastructure."
Matt Murphy, a partner at Menlo Ventures and formerly with Kleiner Perkins, underscored the parallels between the iFund and the newly established Anthology Fund, emphasizing the swift advancement of AI innovation in contrast to earlier technological developments. The fund will furnish startups not just with $25,000 in credits for employing Anthropic's AI models, but also with mentorship, regular gatherings, and a dedicated support channel from Anthropic.
Diverging from conventional venture capital practices, Anthropic will not acquire equity in startups; instead, it seeks to establish a feedback loop to improve its AI offerings. This approach emerged as AI startup investments surged, more than doubling in the second quarter of 2024 to exceed $24 billion. The Anthropic Fund distinguishes itself as a strategic ally, providing unparalleled prospects for cooperation and advancement within the swiftly progressing AI domain.
With Anthropic's AI expertise and Menlo's venture experience, the Anthology Fund is well-positioned to spot and nurture the next big AI companies. The fund is now open for applications from AI startups worldwide, with a preference for U.S.-based companies, though exceptional international startups are also encouraged to apply.
