AI

Menlo Ventures' newest partner, Rama Sekhar, says 'it’s still too darn hard for companies to deploy AI.'

The Palo Alto-based firm lives up to its name as it raises third fund from LP base including institutions from around the world.

PE firms lead in AI/ML adoption, with 33% reporting that they have already adopted the tech, while just 19% of venture capital firms say the same, according to a new survey by tech provider Allvue.

The move comes just two months after Menlo announced that it had raised $1.35bn to invest in tech companies “leading the AI transformation.”

Of our four most-read stories this year, three are focused on the venture secondaries market.

Menlo says the newly raised capital will go to its flagship venture fund Menlo XVI, Menlo Inflection III and affiliated funds 'with a mandate to invest in promising technology companies leading the AI transformation.'

The enterprise AI venture fund will back AI companies from early-stage to "hyper-growth" start-ups.

From new tools to improve operations to a strategy shift at Greycroft, AI is having a noticeable impact throughout the venture industry.

AI mania appears to have driven investors to pour another $26 million into Sound Ventures AI Fund, boosting the total to $265.8 million, according to a new regulatory filing.