Mayfield, a Menlo Park, CA-based early-stage venture capital firm, raised the $250M AI Start Seed Fund.
The AI Start team will run a quick process to evaluate new investments, with typical check sizes ranging from $1-4m. All AI Start companies will benefit from access to Mayfield’s team of company builders, founder amplification leaders, and the experts on the Mayfield Value-Add platform.
AI Start complements Mayfield’s classic primarily Series A focused fund, the $580M Mayfield XVII, and its $375M Mayfield Spring/Select III fund, which were announced in May of this year.
AI Start will draw from Mayfield’s current funds as well as from the new pool of capital.
Mayfield is an early-stage venture capital firm with $3 billion under management. The firm has a proven track record of partnering with founders starting at the inception stage to help build iconic companies that leverage innovations in IT and biology. They have invested in more than 550 companies, resulting in 120 IPOs and more than 225 acquisitions. Some investments include HashiCorp, Lyft, Poshmark/Naver, Mammoth Biosciences, Marketo/Adobe, NUVIA/Qualcomm, Outreach, Rancher/SUSE, SolarCity/Tesla and Volterra/F5.
The firm also added Vijay Reddy, an AI-focused investor as a dedicated AI Start Seed Fund partner. Reddy has previously invested across all layers of the AI stack. Some of his past investments include AEye (NASDAQ: LIDR), BabbleLabs (acquired by Cisco), DataRobot, Joby (NASDAQ: JOBY), Lilt, and SambaNova.
FinSMEs
20/07/2023