

Tech
Menlo Ventures just closed its fifteenth early-stage fund with $500 million

Menlo Ventures, the 44-year-old venture firm with offices in Menlo Park and San Francisco, is taking the wraps of its fifteenth early-stage fund today, a vehicle it closed with $500 million in capital commitments.
It’s the same amount that Menlo announced last year for a growth-stage fund, the second in the firm’s history.
We talked with managing director Venky Ganesan earlier this week about the new fund. It will not, notably, include longtime Menlo managing director Mark Siegel, who joined the firm 24 years ago after a business development stint at Netscape, and who — like peers Bill Gurley of Benchmark and Todd Chaffee of IVP — is now making room for some of the firm’s more recent additions.
Ganesan also said that Menlo, which invests in consumer, enterprise, frontier tech, and healthcare startups, might index a bit more on health-related bets, which is unsurprising but also interesting in an historical context.
Gilead Sciences was actually incubated at Menlo back in 1987, but the firm dropped its life sciences practice for roughly 20 years before resuscitating it in 2017, hiring Greg Yap as a partner to lead related investments. At the time, Yap’s mandate was to invest roughly 15% of the firm’s last, $450 million, early-stage fund into tech-driven life sciences, but Ganesan can imagine that even more of its new fund will be poured into tech-driven health and medical startups.
As for check sizes, Ganesan said that Menlo will continue to do the occasional seed round but that it’s far more focused on Series A and B deals, writing initial checks of between $8 million to $15 million at the Series A for a targeted 20% of each startup, and checks beginning at $12 million to $14 million at the Series B stage. (Its later-stage fund makes the bigger bets beyond that.)
Menlo has long counted Washington State as its anchor tenant, and this fund is no different, having secured a $125 million commitment from its investment board.
A newer investor, says Ganesan, is the State of New Mexico Investment Council, which is one of three new investors in the fund — all of which were introduced to Menlo through other investors, and all of which agreed to back the firm via Zoom.
Given the firm’s recent exits, institutional interest in the new fund isn’t surprising. Menlo led Uber’s Series B round back in 2011, and according to the firm, even before Uber’s IPO last year, Menlo had already earned $973 million — or a 93x return — on its $10.5 million investment by selling nearly half of its Uber stock to a syndicate led by SoftBank.
Another big win for the firm has been Roku, which makes a variety of digital media players for video streaming and went public in 2017. At the time, its shares traded at around $15 each; today its shares trade at $233 apiece.
Meanwhile, Menlo has active portfolio companies that also appear poised to produce returns for its investors. The consignment company Poshmark said late last month that it has confidentially submitted to securities regulators a draft registration statement for its IPO, for example. And Chime, a start-up that delivers banking services through mobile phone, closed a round of funding last month that valued the company at $14.5 billion.
Tech
Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699
When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.
With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!
Advertisement
Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.
This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.
G/O Media may get a commission
You can snag the black version for $20 using the same code—no coupon though, sorry.
Don’t sleep on this deal! Who knows how long stock or the coupon code will last?
Advertisement
Source
Tech
Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code


Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F
It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.
That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.
Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.
Advertisement
Grab this offer while it’s still around!
G/O Media may get a commission
Source
Tech
Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum


Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy
Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy
Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.
You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.
It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!
Advertisement
G/O Media may get a commission
Source
-
Tech2 months ago
Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp
-
Uncategorized3 months ago
The 10 Best Deals of January 12, 2021
-
Uncategorized5 months ago
The 10 Best Deals of November 23, 2020
-
Tech4 months ago
Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code
-
Tech5 months ago
Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum
-
Sports5 months ago
Toronto FC hoping to make MLS Cup run having spent much of 2020 far from home
-
Sports6 months ago
Astros bash way past Athletics to reach ALCS
-
Food6 months ago
Puerto Rican Piñon