TLDR
- Anthropic and Menlo Ventures have launched the $100 million Anthology Fund to invest in AI startups.
- The fund will focus on areas like AI infrastructure, novel applications, consumer solutions, trust and safety, and societal benefits.
- Startups backed by the fund will receive financial support, AI model credits, and access to resources from both Anthropic and Menlo Ventures.
- Investments will range from pre-seed to Series A rounds, starting at $100,000.
- The fund aims to accelerate AI development in various fields, including healthcare, education, and scientific research.
Artificial intelligence company Anthropic and venture capital firm Menlo Ventures have joined forces to create a new $100 million fund called the Anthology Fund.
This fund aims to support and grow early-stage AI companies that are working on innovative ideas and technologies.
The Anthology Fund will invest in startups at different stages, from pre-seed to Series A rounds. Investments will start at $100,000, and each backed startup will also receive $25,000 in credits to use Anthropic’s AI models.
This combination of financial support and access to cutting-edge AI technology is designed to give these new companies a strong start.
Daniela Amodei, President of Anthropic, explained the fund’s goals:
“We hope to speed up the development of groundbreaking AI applications. We’re especially interested in projects that use AI to improve human abilities and productivity in areas like healthcare, legal services, education, energy, infrastructure, and scientific research.”
The fund will focus on five main areas of AI development:
- Infrastructure: This includes tools and systems that help developers work with AI models more easily.
- Novel applications: New ways to use AI in industries like healthcare, finance, and cybersecurity.
- Consumer AI solutions: Products that make AI a natural part of everyday user experiences.
- Trust and safety: Tools to help make sure AI is used responsibly.
- Social benefits: AI applications that can improve education, create jobs, or make technology more accessible to everyone.
Startups that receive backing from the Anthology Fund will get more than just money. They’ll have access to experienced investors from Menlo Ventures, who can offer advice on building and growing a business.
They’ll also get to work closely with Anthropic’s team, using their latest AI research and tools.
We are excited to announce the Anthology Fund, a $100M fund we created with our partners at @AnthropicAI to support the next generation of breakthrough companies.
With funding from the Anthology Fund, we will back visionary founders using Anthropic’s cutting-edge AI to reshape…
— Menlo Ventures (@MenloVentures) July 17, 2024
The fund will run a structured program for its startups. This includes regular meetings with Menlo Partners and Anthropic’s developer team to help startups make the best use of AI tools like Claude, Anthropic’s AI assistant.
Twice a year, startups will also get to show their progress to leaders from both Menlo and Anthropic.
Tim Tully, a partner at Menlo Ventures, shared his excitement about the fund:
“We’re not just looking for startups; we’re seeking pioneers who will use Anthropic’s groundbreaking technology to push the limits of what’s possible with AI today. We want to help ambitious founders create solutions that don’t just make money, but also change industries and improve lives.”
This partnership comes at a time when both Anthropic and Menlo Ventures are heavily invested in the AI field. Anthropic recently received large investments from tech giants like Amazon and Google.
Menlo Ventures has a history of backing successful AI companies and recently raised over a billion dollars to support the next generation of AI firms.
The launch of the Anthology Fund shows how important AI has become in the tech world.
By combining Menlo’s experience in growing startups with Anthropic’s AI expertise, the fund hopes to play a big role in shaping the future of AI technology and its applications across many different industries.
