Mayfield Fund Announces $750 Million Raised Across Two Funds

By Amit Chowdhry ● Apr 16, 2020
  • Mayfield Fund has announced it raised $750 million across two new funds: Mayfield XVI ($475 million) and Mayfield Select II ($275 million)

Mayfield Fund has announced it raised $750 million across two new funds: Mayfield XVI ($475 million) and Mayfield Select II ($275 million). Mayfield XVI is going to continue to invest in early-stage companies. And Mayfield Select II will invest in later-stage companies. And Select II will have the ability to invest in growth-stage companies outside of its portfolio.

“While the current climate is uniquely challenging, our firm has lived through many industry ups and downs, and over the last decade, we navigated some tough times. We were called upon to demonstrate our core beliefs again and again,” wrote Mayfield managing partner Navin Chaddha in a blog post.

Chaddha also pointed out that the company raised Fund XIII in September 2008, which was right after the last economic crisis. With these new funds, it puts Mayfield’s current assets under management to over $2.5 billion.

Some of the companies that Mayfield invested in include Lyft, Marketo, Citrix, SanDisk, Compaq, Atari, SolarCity and Lam Research. And the current portfolio companies include Grove Collaborative, HashiCorp, Mammoth Biosciences, Outreach, and Poshmark.