Silicon Valley enterprise capital agency Menlo Ventures, one of many largest traders in synthetic intelligence startup Anthropic, stated on Wednesday that the 2 firms are becoming a member of forces to determine a $100 million plan known as the “Anthology Fund” to spend money on pre-seed and A Spherical synthetic intelligence challenge.
Menlo lately topped Anthropic’s listing of backers, finishing greater than $750 million in yet-to-be-announced financing for the muse mannequin firm, folks acquainted with the matter stated.
Menlo Ventures associate Matt Murphy instructed TechCrunch that the Anthology fund’s funding is a part of the newest $1.35 billion in funding Menlo raised final November.
“We’re considered one of Anthropic’s largest traders and a giant fan of what they’re doing,” Murphy stated. “We expect this is a chance for us to do one thing collectively, the place we are able to see the ecosystem and discover nice firms which can be constructed on both people or synthetic intelligence extra broadly.”
The enterprise capital agency basically makes use of its investments and shut relationship with one of many world’s most outstanding foundational mannequin firms to search out fascinating AI-first startups for future investments.
The Anthology Fund will write checks to startups beginning at $100,000 and supply them with credit value $25,000 to make use of Anthropic’s mannequin.
The fund is accepting functions from startups by an internet kind. Menlo will use the corporate’s proprietary machine studying instruments to attain and rank functions, Murphy stated, including that the businesses’ due diligence course of is predicted to be extra “light-weight” than the corporate’s typical investments.
Murphy stated Menlo will assist any follow-on funding raised by promising Anthology funds.
