Menlo Ventures
Menlo Ventures is a leading Silicon Valley venture capital firm that has backed category-defining technology companies since 1976.
Last updated October 14, 2026
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Overview
Menlo Ventures is a venture capital firm based in Menlo Park, California, founded in 1976 by DuBose Montgomery. As one of the oldest continuously operating venture firms in Silicon Valley, it has participated in the growth of the technology industry across multiple eras, from early computing and networking to the modern cloud, consumer internet, and artificial intelligence waves. The firm invests across stages, from seed to growth, and typically focuses on enterprise infrastructure, cloud software, consumer services, fintech, healthcare technology, and frontier technologies such as AI and cybersecurity. Menlo Ventures manages billions of dollars in committed capital and has backed numerous companies that became public or were acquired at high valuations. Notable portfolio companies have included Uber, which went public in 2019, and more recently Anthropic, a leading AI safety and research company. The firm is known for its thesis-driven approach and for building long-term relationships with founders, often taking board seats and providing operational guidance. Its partners have included prominent investors such as Matt Murphy, Shawn Carolan, and others who have shaped its investment strategy. The firm operates primarily from its headquarters in Menlo Park, with a global reach through investments in companies that expand internationally. It is a private partnership, owned by its general partners, and does not trade on any public exchange. Menlo Ventures remains an active investor, participating in later-stage rounds and continuing to raise new funds to support emerging technology companies.
History
Menlo Ventures was founded in 1976 by DuBose Montgomery in Menlo Park, California, at a time when the venture capital industry was still nascent. The firm was established to provide early-stage financing to technology companies in the emerging Silicon Valley ecosystem. During its early decades, Menlo Ventures invested in a range of technology sectors, including semiconductors, networking, and software, building a reputation as a patient and supportive partner to founders. In the 1990s and 2000s, Menlo Ventures expanded its focus to include internet infrastructure, enterprise software, and consumer internet companies. The firm was an early investor in several notable companies, including 3Com, Ascend Communications, and later, in the 2010s, it backed companies such as Uber, which became one of the most valuable private companies before its 2019 IPO. Menlo Ventures also invested in Roku, which went public in 2017, and Blue Coat Systems, which was acquired by Symantec in 2016. In the 2020s, Menlo Ventures continued to evolve its strategy, placing significant emphasis on artificial intelligence, cloud infrastructure, and cybersecurity. A landmark investment was its backing of Anthropic, an AI safety and research company, in which Menlo Ventures led a significant funding round in 2023. The firm also raised new funds, including Menlo XVI, a $1.35 billion fund closed in 2023, to support its investment activities. Throughout its history, Menlo Ventures has maintained a partnership model, with its general partners owning and managing the firm. It remains headquartered in Menlo Park and invests globally, with a particular focus on U.S.-based technology companies.
- 2023
Leads significant funding round in Anthropic; closes $1.35 billion Menlo XVI fund.
- 2019
Portfolio company Uber goes public.
- 1976
Founded by DuBose Montgomery in Menlo Park, California.
Products and positioning
Thesis-driven venture capital firm focused on backing category-defining technology companies from seed to growth stage.
Menlo XVI
A $1.35 billion venture capital fund closed in 2023.
Recent events
Reported
Menlo Ventures announces investment in AI coding startup Factory[2]
Menlo Ventures partner Matt Murphy and his team announced in a blog post on Monday that the firm has invested in AI coding startup Factory, as part of Factory's latest funding round announced last month at a $5 billion valuation. Menlo declined to disclose the investment amount; a source familiar with the deal said the investment was significant to Menlo — not a token gesture — and that Menlo would have invested more had there been room on the cap table. The announcement came days after Vinod Khosla called Factory a struggling also-ran.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Reported
Armadin raises $255.5M Series B at over $2.5B valuation[3]
Armadin, the agent-swarm security startup founded by Kevin Mandia, announced on Thursday (2026-10-01) that it raised $255.5 million in a Series B round at a valuation of more than $2.5 billion. The round was led by Andreessen Horowitz and Accel, with Bain Capital Ventures, Redpoint, 8VC, Ballistic Ventures, Google Ventures, In-Q-Tel, Kleiner Perkins, and Menlo Ventures joining in.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Reported
Clarifai closes $60 million Series C funding round[4]
Clarifai announced that it closed a $60 million Series C funding round led by NEA, with participation from existing and new investors. The company said the funds would be used to expand its sales, marketing, and engineering teams.
Reported
Edge Delta announces $15 million Series A[5]
Edge Delta announced a $15 million Series A round led by Menlo Ventures and Tim Tully, with previous investors MaC Venture Capital and Amity Ventures also participating.
Reported
Qualio raises $50 million in Series B funding[6]
Qualio announced a $50 million Series B funding round led by Tiger Global, with Menlo Ventures and existing investors also participating. The company said the funds would support global customer expansion and investment in product and engineering.
Reported
Qualia announced a $55 million Series C funding round[7]
Qualia announced that it had raised $55 million in a Series C funding round led by Tiger Global. The company said it planned to use the funds to hire for its product, engineering and go-to-market teams, accelerate growth, and build partnerships.
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