Key facts
- Menlo Ventures' initial $1 billion investment in Anthropic is now estimated to be worth $14 billion.
- The investment was made in early 2023 when Anthropic had no revenue and a $4.1 billion valuation.
- Anthropic's annualized revenue reached approximately $1 billion by December 2024.
- Anthropic is preparing for an initial public offering.
Menlo Ventures is poised for a substantial return on its early investment in AI firm Anthropic, with its initial $1 billion stake now valued at an estimated $14 billion. The venture capital firm made the investment in early 2023, at a time when Anthropic was pre-revenue and valued at $4.1 billion. Menlo Ventures partner Matt Murphy acknowledged that the decision required the firm to deviate from its usual investment criteria. Anthropic's subsequent growth, including securing investments and partnerships with tech giants Google and Amazon, has validated the bet. By December 2024, Anthropic's annualized revenue had reportedly surged to approximately $1 billion.