California based venture capital firm- Mayfield Fund has reportedly raised US$750 million across two VC funds.
Apparently, Mayfield XVI is expected to carry on with investing in early-stage firms, while Mayfield Select II is likely to invest in later-stage investment rounds of key portfolio companies. The difference in the new Select fund is its ability to invest in growth-stage entities outside its offerings.
As per reliable sources, Mayfield has backed several companies that have witnessed successful exits, such as SolarCity, Lyft, Marketo and ServiceMax- all deals that rose out of the financial crisis in the year 2008 and its later funds.
Reportedly, the present portfolio companies such as Mammoth Biosciences, a biotech company focusing on CRISPR, as well as retail investments like PoshMark, depict the firm’s capability of securing new deals.
According to Navin Chaddha, Managing Partner, Mayfield Fund, the company has raised similar funds once every four years and has invested in nearly thirty companies per fund. The firm has faced many challenging situations over the past decade and has navigated through them, he noted.
Citing sources, over the last decade, the company has assisted their clients in more than 500 investments, 200 mergers and acquisitions and 117 IPOs.
Notably, Mayfield aims at investing in next-generation consumer brands, human-centered artificial intelligence and latest technology in the coming years.
Incorporated in the year 1969, Mayfield Funds is a leading venture capital entity with more than US$2.5 billion under management, aiming at investing in information technology majors that deliver breakthrough business models and innovative technology. It primarily invests in early-stage technology firms in the enterprise and consumer industry.
The existing portfolio of companies Mayfield boasts comprises promising names, including Citrix, HashiCorp, Grove Collaborative, Outreach, Poshmark and Mammoth Biosciences. Compaq, SanDisk, Atari and Lam Research are also some of the companies the fund had invested in.