The fresh capital has put Mayfield in a position to lean in and do more investments than it typically does. The firm does about eight investments per year and when markets get too frothy, Mayfield actually pulls back on investing – like it did in 2021 when it only invested in seven new startups, Chaddha said.
And the timing really couldn't be better for Mayfield, as the hype in AI – particularly generative AI – has hit an apex in the VC industry. The Mayfield leader – who's made successful bets on companies like, Lyft and Poshmark, and has been featured on Forbes' Midas list almost every year he's been at the helm of the firm – firmly believes that the greatest companies are created during tough economic times.
That's what makes the current period such an enticing time to invest in new companies, particularly in AI. These companies could usher in the next wave of tech dominance. Mayfield is actually doubling-down on that assertion with its new AI-focused seed fund, and hiring expert industry investor, Vijay Reddy, to head it up. Reddy focused on AI at Clear Ventures and before that, at Intel Capital, making investments in companies like Sambanova, DataRobot and Joby.
Mayfield's new AI focus comes amid an inflection point for the venture-capital industry. Many saw this AI wave coming, while others are now trying to catch up. Over the past few months, several firms have announced new AI-focused funds or set aside capital to focus on the sector: Wing Venture Capital just closed
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