Venture capital firm Menlo Ventures closed its twelfth fund at $400m.
Menlo Ventures XII is dedicated to investing 50/50 in multi-stage consumer and enterprise technology companies. Consumer investment focus areas are marketplaces, vertical e-commerce and subscription services, and mobile applications. Enterprise focus areas include cybersecurity, cloud infrastructure, big data and software-as-a-service.
Menlo will also allocate $15m out of the new fund for the Menlo Talent Fund, dedicated solely to promising seed-stage ideas.
Led by Managing Directors Pravin Vazirani, Venky Ganesan, Shawn Carolan, Doug Carlisle, and John Jarve, the firm provides capital for multi-stage consumer and enterprise technology companies with a portfolio that includes more than 70 public companies and more than 100 mergers and acquisitions. In the past eighteen months, it has exited Dropcam (acquired by Nest for $555 million), Check (acquired by Intuit for $360 million), Edgecast (acquired by Verizon for $395 million), Flurry (acquired by Yahoo!), Cellfire (acquired by Catalina Marketing), Voltage Security (acquired by Hewlett-Packard), and eXelate (acquired by Nielsen).