Mayfield: $955 Million Raised Across 2 New Funds Focused On Early Stage Investing

By Amit Chowdhry ● May 21, 2023

Mayfield – a top-tier early-stage investor – recently announced that it has raised a total of $955 million across 2 venture capital funds to continue its focus on being a champion of entrepreneurs. The $580 million Mayfield XVII and the $375 million Mayfield Select III follows the $750 million raised by prior funds in March 2020, which brought the firm’s total assets under management (AUM) to $3 billion. Both of the funds became oversubscribed in a couple of weeks.

Mayfield XVII is going to continue the Firm’s early-stage focus, primarily investing in companies at the inception or early customer adoption stage (Seed and Series A rounds). And Mayfield Select III (aka Mayfield Spring) will invest in follow-on rounds of breakout portfolio companies and new companies (primarily at the Series B round) from outside its portfolio.

The firm invests in companies that utilize innovation in both IT and biology. And some themes include human-centered AI, the data economy, the developer-first era, the renaissance of semiconductors, cybersecurity, deeptech, Web3, and human and planetary health. And the investing team is led by Managing Partner Navin Chaddha and team members include Rajeev Batra, Arvind Gupta, Tejas Maniar, Ursheet Parikh and Patrick Salyer.


“We are grateful for the continued support of our limited partners and for the fortitude of entrepreneurs which brings us to work every day. We believe that the current economic uncertainty presents an opportunity for the bold and a time to lean forward into the next era of innovation. We are excited about partnering with inception and early stage founders looking for a People-First investor to build a bright future together.”

— Managing Partner Navin Chaddha