MoneyJuly 16, 2026via Newcomer (VC)
SCOOP: Menlo Ventures Sees IRR of 40%+ on Recent Funds After Doubling Down on Anthropic
Why it matters
Menlo's outsized returns on AI bets—particularly Anthropic—signal how concentrated AI wealth creation is becoming among early-stage VCs, and validate contrarian thesis that AI leaders consolidate disproportionate value capture.
Key signals
- Menlo Ventures reporting 40%+ IRR on recent funds
- Anthropic identified as primary driver of returns
- 50-year-old firm recovered from 'lean years' via AI exposure
- Multiple 'rising stars' in portfolio contributing to performance
- Scoop/exclusive reporting suggests material market signal
The hook
40%+ IRR. That's what Menlo Ventures is posting on recent funds after betting heavy on Anthropic.
The 50-year-old firm had some lean years before scoring big on the AI leader & several other rising stars