MENLO PARK, Calif.–(BUSINESS WIRE)–May 8, 2023–

Mayfield, a top-tier early stage investor, today announced that it has raised a total of $955 million across two 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 follow the $750 million raised by prior funds in March 2020, bringing the Firm’s total assets under management to $3 billion. Both funds became oversubscribed in a couple of weeks.

Mayfield XVII will continue the Firm’s early stage focus, primarily investing in companies at the inception or early customer adoption stage (Seed and Series A rounds). 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 leverage innovation in both IT and biology. 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.

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,” said Chaddha. “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.”

About Mayfield

Mayfield is an early stage venture capital firm with a people-first philosophy and $3 billion under management. The Firm has a proven track record of partnering with founders starting at the inception stage to help build iconic enterprise, AI-first, deeptech and human and planetary health companies. The Firm has invested in more than 550 companies, resulting in 120 IPOs and more than 225 acquisitions. Some recent notable investments include HashiCorp, Lyft, Poshmark/Naver, Mammoth Biosciences, Marketo/Adobe, NUVIA/Qualcomm, Outreach, Rancher/SUSE, SolarCity/Tesla and Volterra/F5. For more information, go to or follow @MayfieldFund.

Kamini Ramani

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