Menlo Ventures partner recalls bending VC rules to back pre-launch Anthropic at $4B
mmurph · x · 2026-10-27
Menlo Ventures partner Matt Murphy recalls on The Peel Pod how the firm invested in pre-revenue, pre-launch Anthropic at a $4B valuation in 2022-23 — an entry price that would have been a spectacular exit in venture history. He details the practical challenges of fitting the deal into fund structures and credits an all-in-on-AI partnership for backing what they saw as the second-best company in the category.
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