Mayfield Unveils $250 Million AI Start Seed Fund and Welcomes New Partner

MENLO PARK, Calif., July 20, 2023 (VSNewsNetwork.com) - Prominent early-stage venture capital firm Mayfield has launched its inaugural seed fund, AI Start, with a sizeable $250 million purse. The fund aims to collaborate with AI-first founders from the inception of their ventures. The firm also announced the addition of Vijay Reddy, a seasoned AI-focused investor, as the dedicated partner for the AI Start Seed Fund.

“We believe that AI will emerge as our teammate and that the Gen.AI wave will create many iconic companies,” stated Navin Chaddha, Mayfield Managing Partner. “AI Start brings our craftsperson investing approach to founders at the inception stage of their company formation. Along with Vijay, who has a proven track record in helping seed stage AI founders scale, we look forward to participating in the Gen.AI movement.”

AI Start will be offering investment checks typically between $1-4 million. All AI Start companies will benefit from the Mayfield team's expertise and the Mayfield Value-Add platform. The launch of AI Start adds to Mayfield’s comprehensive portfolio of funds, including the $580 million Mayfield XVII and its $375 million Mayfield Spring/Select III fund.

Reddy comes with a rich investment background across all layers of the AI stack, including successful investments like AEye, BabbleLabs, DataRobot, Joby, Lilt, and SambaNova.

For more information, visit www.mayfield.com.

Source: Mayfield via Business Wire