Menlo Ventures has raised $250 million in its first special purpose fund in its 40-year history, targeted at helping early stage startups that are being stranded by a sudden slowdown in funding over the past two quarters. "We believe there is a venture valley in the investment landscape that looks like a barbell," Menlo Managing Director Venky Ganesan told me. "There is a lot of interest in early stage — seed and Series A — and a lot of interest in late stage."
