Anthropic, an AI safety startup, has teamed up with venture capital firm Menlo Ventures to launch a $100 million fund called the Anthology Fund to invest in early-stage AI startups. The fund is modeled after Apple's iFund from 2008 which was a partnership between Apple and Kleiner Perkins to support developers building for Apple's mobile platforms. Startups will receive $25,000 in credits to use Anthropic's AI technology and coaching and resources from Anthropic. However, Anthropic will not take equity stakes in the startups. The aim is to help more startups adopt AI and, in the process, provide feedback to Anthropic to improve their own products.
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00:00It's Benzinga, and here's what's on the block.
00:02Anthropic, an AI safety startup, has teamed up with venture capital firm Menlo Ventures
00:07to launch a $100 million fund called the Anthology Fund to invest in early-stage AI startups.
00:13The fund is modeled after Apple's iFund from 2008, which was a partnership between
00:17Apple and Kleiner Perkins to support developers building for Apple's mobile platforms.
00:23Startups will receive $25,000 in credits to use Anthropic's AI technology, as well as
00:28coaching and resources from Anthropic.
00:30However, Anthropic will not take equity stakes in the startups.
00:34The aim is to help more startups adopt AI and in the process provide feedback to Anthropic
00:38to improve their own products.
00:39For all things money, visit Benzinga.com.