Mayfield samler inn nesten 1 milliarder dollar på to fond

Silicon Valley investing giant Mayfield1 has raised two funds totaling almost $1 billion targeted for early-stage investment.

The Menlo Park-based firm — known as an early backer of such startups as Lyft, Marketo og ServiceNow — announced its $580 million Mayfield XVII and the $375 million Mayfield Select III funds.

The firm last announced new funds in March 2020, when it raised $750 million across two funds. The firm now has $3 billion in total assets under management.

The Mayfield XVII fund will primarily be used for early-stage investing — mainly seed and Series A rounds. The Mayfield Select III will be for follow-on rounds, as well as investments in new companies, primarily at the Series B stage.

Some themes the firm is looking to invest in include human-centered AI, the developer-first technologies, semiconductors, cybersecurity and more.

“We are grateful for the continued support of our limited partners and for the fortitude of entrepreneurs which brings us to work every day,” said Managing Partner Navin Chadha in a statement. “We believe that the current economic uncertainty presents an opportunity for the bold and a time to lean forward into the next era of innovation. We are excited about partnering with inception and early-stage founders looking for a people-first investor to build a bright future together.”

Recent dealmaking

While some big-name firms such as Tiger Global, Insight Partners and many more significantly slowed their investment pace last year, Mayfield continued a deliberate and consistent cadence.

According to Crunchbase data, the firm completed 26 financing deals in the salad days of 2021, and 23 last year — when the venture and investing market was substantially easing.

So far this year, Mayfield’s pace has been a little slower, with just five deals announced. Those deals include participating in a $27 million Series A for India-based mobility platform Blu-Smart Mobility and a $51 million Series E for San Francisco-based database developer Tilstrømningsdata.

illustrasjon: Dom Guzman