Another day, one other AI fund debuts.
Menlo Enterprises announced the launch of a $100 million AI fund — called the Anthology Fund — in partnership with generative AI startup OpenAI competitor, Anthropic.
The latest fund will support founders building AI-powered applications and infrastructure solutions that leverage Anthropic’s AI technology and models.
Investments will focus on, but not be limited to, five AI areas: infrastructure, pioneering/latest applications, consumer experience, trust and security, and solutions that maximize societal profit. The fund will invest from seed to expansion, with investments starting at $100,000.
“From our initial meetings with Anthropic when we first invested in early 2023, we have been impressed by the caliber of their team and their commitment to world-changing, secure AI innovation,” Menlo wrote. Matt Murphy AND Tim Tully In blog.
“With the Anthology Fund, we have joined forces to further our commitment to the most inventive pioneers in AI,” they continued.
Menlo participated in Anthropic’s Series C round in 2023 and led Anthropic’s $750 million funding round earlier this yr.
Another AI fund
While Anthropic is not going to acquire shares in the corporations the fund invests in, it is standard for an AI firm or large technology company to assist create a fund specifically focused on AI.
The OpenAI Startup Fund was launched in 2022, investing $175 million raised from OpenAI partners. OpenAI is not an investor itself.
Last yr, Salesforce Projects1 — Sales Force‘s enterprise arm — announced a $500 million Generative AI Fund. The company is an investor in Anthropic.
In May, Data blocks announced latest Databricks AI Fund as a part of Databricks Projects.