Menlo Ventures raises $500m early-stage fund

Menlo Ventures announced it has raised $500 million for Fund XV to make seed and Series A investments in consumer, enterprise, frontier tech and healthcare companies. The firm, which incubated Gilead and invested early in Uber, Roku and Poshmark, raised $450 million for its predecessor fund in 2017. The firm separately raised $500 million last year for its Menlo Inflection Fund to back early-growth companies. The firm was founded in 1976.

Source: Blog post by Venky Ganesan