MENLO PARK, Calif., Oct. 15, 2020 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Menlo Ventures, please note the Menlo XV link in the first paragraph and the Menlo Ventures blog link in the sixth paragraph have been updated. The corrected release follows:

Today, Menlo Ventures launched Menlo XV, a flagship $500M venture fund to help early-stage founders transform existing industries, create new categories, and build a better future.   

Menlo XV is dedicated to Seed and Series A investments in companies spanning consumer, enterprise, frontier tech, and healthcare. The firm will continue to invest in areas of focus that include software-as-a-service (SaaS), cloud infrastructure, cybersecurity, AI, marketplaces, financial technology (fintech), transportation, and bioinformatics while keeping the scope open to emergent opportunities. This early-stage fund is complemented by the Menlo Inflection Fund, a $500 million fund raised in 2019 to power early-growth companies through the venture gap. 

"Our mission takes on new meaning during this pandemic," said Shawn Carolan, partner at Menlo Ventures. "The transformational power of technology has never been more evident, as it enabled a massive shift to remote learning and work, drives rapid advancements in medicine and diagnostics, and connects us to friends, families, classmates, and colleagues.  Menlo is investing today in the technologies that shape how we live and work tomorrow."

This new fund continues a record run for the firm that incubated Gilead and is recognized today for early investments in Uber, Roku, and Siri. Since closing Menlo XIV in 2017, Menlo has generated more than $3.8 in realized value.

In an economy that some consider uncertain, Menlo draws on 44 years of investment expertise and company building, "We have weathered storms before," explains Venky Ganesan, partner at Menlo Ventures.  "Enduring companies will be born during this period but building a lasting business requires grit and determination. When we invest, we invest more than money, providing real impact where entrepreneurs need it most: helping to build world-class management teams, catalyze go-to-market strategies, and provide meaningful introductions to customers and strategic partners."   

For more detail on areas in which we will actively invest, read the Menlo Ventures blog.

About Menlo Ventures
Menlo Ventures is a venture capital firm that strives to have a positive impact on everything we do. That’s why we support businesses including Carta, Chime, Harness, Poshmark, Pillpack, Roku, Rover, Uber and Warby Parker that are reimagining life and work for the better. Over 44 years, we’ve grown a portfolio that includes more than 70 public companies, over 150 mergers and acquisitions, and currently have $5.5 billion under management. We invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. From developing market strategies to creating communities, we provide real impact where entrepreneurs need it most. When we’re in, we’re ALL IN.

PDFs accompanying this announcement are available at:

http://ml.globenewswire.com/Resource/Download/b0ed2708-09aa-4313-a890-a684a87d0bd1

http://ml.globenewswire.com/Resource/Download/7ae73361-b6dd-4165-9781-93f1199c8eaa

Media Contact: 
Tiffany Spencer
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