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Antropic and one of its largest investors apple Playbook.
Anthropik and Menlo Ventures are launching a $100 million fund on Wednesday to back early-stage startups and help them leverage the AI ​​company’s technology. Menlo will provide investment capital for the startups, while Anthropik will offer founders a $25,000 credit to use its large-scale language models.
The launch of the Anthology Fund reflects a partnership between Apple and venture firm Kleiner Perkins. iFundwas introduced in 2008, a year after the iPhone was released, to support developers of Apple’s mobile platforms. It started out at $100 million in 2008 and doubled to $200 million two years later.
Matt Murphy, a partner at Menlo Ventures and former partner at Kleiner Perkins, said iFund was the catalyst for the launch.
““This was a huge success, because it gave Apple a full view of early developers and where they should be paying more attention,” Murphy told CNBC. “It also gave developers a first-hand look at some of the products that Apple was looking to sell. There are a lot of similarities.”
Murphy said the big difference is that AI is moving faster than the development of the iPhone: He said the current wave of AI is happening 10 to 100 times faster than “the biggest wave of innovation we’ve ever seen.”
As investors flock to the hottest deals, venture capitalists are looking for ways to make their offers more attractive to lure AI startups. Funding for AI startups more than doubled in the second quarter from the first quarter to more than $24 billion, according to Crunchbase data.
Anthropik offers coaching, quarterly meetings and other resources, including a hotline directly to the company that Murphy describes as a “Batphone.”
But Anthropic doesn’t intend to write equity checks or take a financial stake in startups. Daniela Amodei, who co-founded Anthropic with her brother Dario after leaving rival OpenAI, said the company wants to establish a feedback loop: the more Anthropic partners with developers, the better it can improve its own product.
““In AI, it’s very expensive to get started, and that can be a deterrent to actually starting a company,” Daniella Amodei told CNBC. “Our goal is to contribute to that element. We’re providing credits and also guidance on how to get started in the ecosystem.”
Anthropic will also benefit from the next generation of leading AI companies building their underlying infrastructure. Anthropic is in direct competition with OpenAI, the creators of ChatGPT.
OpenAI has its own venture fund, the OpenAI Startup Fund. Website “We will invest $175 million to help AI companies have a profound positive impact on the world.”
Murphy differentiated Anthology Fund, saying it would be “difficult to work with another strategic partner.”
“This is a unique opportunity for Anthropic and for us and the entrepreneurs we’re funding over the next few years to come together and build an incredible community, learn together, do the most disruptive and innovative things and build something really amazing,” Murphy said.
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