Venture Capital · Profile from Venture Capital Research Companion
Menlo Ventures
One of Sand Hill Road's oldest continuously operating venture firms (founded 1976). It is a steady, partnership-run multi-stage investor whose fifty-year record runs from Gilead and 3PAR through Roku, Siri and Uber. Its ~$1bn bet on Anthropic from 2023 turned it into one of the defining AI investors of the decade.
At a glance
- Founded
- 1976, Menlo Park, California
- Founders
- H. DuBose Montgomery
- Headquarters
- Sand Hill Road, Menlo Park, CA; office in San Francisco
- Ownership / structure
- Private partnership owned by its general partners; numbered early-stage funds (Menlo Ventures I–XVII) plus a growth series (Menlo Inflection I–IV) and deal-specific SPVs
- Leadership (2026)
- Managing partners including Shawn Carolan and Matt Murphy; partner Venky Ganesan (titles reported; verify); other partners include Tim Tully, Joff Redfern, Amy Wu, Naomi Ionita and JP Sanday (verify individual roles)
- AUM / capital raised
- ~$5.6bn (2023, reported); >$8.5bn AUM (mid-2026, reported) after a $3bn raise announced June 23, 2026
- Stage focus
- Seed to Series A (Menlo Ventures funds), Series B to growth (Menlo Inflection); themes: AI (models, infrastructure, applications), cybersecurity, fintech, consumer, healthcare and life sciences
- Signature investments
- Wins: Gilead Sciences, 3PAR, Roku, Siri, Uber, Chime, Abnormal Security, Anthropic. Misses / failures: Fab.com (sold for ~$15m after ~$336m raised); the dot-com-era overhang of very large 2000-vintage funds (reported)
10 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
1987
Gilead Sciences
Seed / Founding Investment
1999
3PAR
Series A
2008
Roku
Venture Round Lead and Netflix Stake Purchase
2008
Siri
Series A
2011
Fab
Series A
2011
Uber
Series B
2018
Chime
Series D
2020
Abnormal Security
Series B
2022
Pinecone
Series A
2023
Anthropic
Series D Lead