One of the leading AI startups, Anthropic, is teaming up with venture capital firm Menlo Ventures to establish a new fund aimed at AI startups.
Menlo Ventures will provide the financial backing for the $100 million “Anthology Fund,” while Anthropic’s personnel and AI technology will assist in identifying promising startups. Initial funding for early-stage startups through the fund will start at $100,000. The fund will focus on startups developing AI safety tools and applications with societal benefits, aligning with Anthropic’s mission to promote responsible AI.
“We’re particularly interested in ventures that leverage AI to enhance human capabilities and productivity in areas such as healthcare, legal services, education, energy, infrastructure, and scientific research,” said Anthropic president Daniela Amodei. “We look forward to working closely with Menlo and the exceptional founders supported by this fund to push the boundaries of what’s possible with AI.”
Anthropic co-founders and siblings Daniela and Dario Amodei are former OpenAI engineers who left that company due to concerns over the rapid scaling of its technology without sufficient safeguards. Their startup fund is another example of the company following in OpenAI’s footsteps while emphasizing its own values. OpenAI launched its own $175 million fund for AI startups in 2021.
Anthropic is currently valued at just a quarter of its rival OpenAI but recently secured a major investment from Amazon.
Venture capital funding for AI has played a significant role in sustaining private capital markets during challenging macroeconomic conditions. Nearly half of all U.S. VC funding in 2024 has been directed toward AI startups, according to a recent PitchBook report. In the second quarter, multi-billion dollar funding rounds for AI startups CoreWeave and xAI made up more than a quarter of the total value of all deals.
By the numbers:
$100 million: Capital for Anthropic and Menlo Ventures’ Anthology Fund
$175 million: Value of OpenAI startup fund
$80 billion: Value of OpenAI
$18 billion: Value of Anthropic