Leading AI startup Anthropic is partnering with venture capital firm Menlo Ventures to launch a new fund dedicated to AI startups.
Menlo Ventures will provide the capital for the $100 million “Anthology Fund,” while Anthropic’s team and AI technology will help identify promising startups. 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 are particularly interested in ventures that leverage AI to enhance human capabilities and productivity in fields such as healthcare, legal services, education, energy, infrastructure, and scientific research,” said Anthropic president Daniela Amodei. “We look forward to collaborating with Menlo Ventures and the exceptional founders supported by this fund to explore the possibilities of AI.”
Anthropic’s co-founders, siblings Daniela and Dario Amodei, previously worked at OpenAI. They departed from OpenAI due to concerns about the rapid scaling of technology without adequate safeguards. This new startup fund reflects Anthropic’s commitment to responsible AI, following a similar path to OpenAI, which launched a $175 million fund for AI startups in 2021.
Though Anthropic’s current valuation is a quarter of OpenAI’s, it recently secured major investment from Amazon.
Venture capital funding for AI has been a significant factor in sustaining private capital markets amid challenging macroeconomic conditions. Nearly half of all U.S. VC funding in 2024 has been allocated to AI startups, according to a recent PitchBook report. In the second quarter, substantial funding rounds for AI startups CoreWeave and xAI represented over a quarter of the total deal value.
Key Figures:
$100 million: Capital for Anthropic and Menlo Ventures’ Anthology Fund
$175 million: Value of OpenAI’s startup fund
$80 billion: Valuation of OpenAI
$18 billion: Valuation of Anthropic