Mayfield, an early-stage investment firm based in Menlo Park, California, has successfully raised a total of $955 million across two venture capital funds. The funds include the $580 million Mayfield XVII and the $375 million Mayfield Select III, which follow the $750 million raised by previous funds in March 2020. This brings the company’s total assets under management to $3 billion.
The Mayfield XVII fund will maintain the firm’s focus on early-stage investments, primarily targeting companies during inception or early customer adoption stages (Seed and Series A rounds). Meanwhile, the Mayfield Select III fund (also known as Mayfield Spring) will invest in follow-on rounds for standout portfolio companies and new companies (primarily at the Series B round) outside its portfolio.
Mayfield invests in businesses that harness innovation in both IT and biology, focusing on areas such as human-centered AI, the data economy, the developer-first era, the semiconductor renaissance, cybersecurity, deep tech, Web3, and human and planetary health.
The investment team is led by Managing Partner Navin Chaddha and includes team members Rajeev Batra, Arvind Gupta, Tejas Maniar, Ursheet Parikh, and Patrick Salyer. Mayfield has invested in over 550 companies, resulting in 120 IPOs and more than 225 acquisitions. Some of its recent notable investments include HashiCorp, Lyft, Poshmark/Naver, Mammoth Biosciences, Marketo/Adobe, NUVIA/Qualcomm, Outreach, Rancher/SUSE, SolarCity/Tesla, and Volterra/F5.
