TLDR:
- Menlo Ventures partners with Anthropic to launch a $100m AI fund to back start-ups using Anthropic’s AI models.
- Anthropic’s AI chatbot Claude will be used to source investment opportunities for the fund.
US AI start-up Anthropic is collaborating with Menlo Ventures to establish a $100m AI fund aimed at supporting start-ups utilizing Anthropic’s AI models. The new Menlo Ventures Anthology Fund is set to invest in companies developing products based on Anthropic’s Claude AI chatbot. This partnership allows Menlo Ventures to stand out in the competitive AI market, offering investment starting at $100,000 for early-stage companies.
Anthropic, a rival of OpenAI, will not have direct financial stakes in the start-ups but will benefit from them developing on its AI platform. Additionally, Anthropic will provide guidance and coaching to the AI start-ups throughout their growth. The Menlo Ventures Anthology Fund follows a similar model to OpenAI’s venture fund, which is reportedly investing approximately $175m in AI companies.
GlobalData’s research indicates that the global AI market, valued at $217bn year-to-date in 2024, is expected to surpass the 2023 total of $318bn. Projections suggest that the AI market will grow to a worth of $909bn by 2030, with a 35% compound annual growth rate between 2022 and 2030. In the GenAI sector, revenues are forecast to increase from $1.8bn in 2022 to $33bn in 2027 at an 80% compound annual growth rate.
