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Mayfield

Focuses on early-stage to growth-stage investments in enterprise and consumer technology companies.
Mayfield
Leadership team

Thomas J. Davis Jr. (Founder)

Rajeev Batra (Enterprise, Consumer)

Navin Chaddha (Enterprise, Consumer, Semiconductors, Web3)

Tim Chang (Consumer)

Rishi Garg (Consumer)

Gamiel Gran (Chief Commercial Officer)

Arvind Gupta (Human & Planetary Health)

Patrick Salyer (Enterprise)

Number of Employees
0 - 50
Headquarters
Sand Hill Road in Menlo Park, California.
Established
1969
Social Media
Summary

Mayfield is a venture capital firm with a distinguished track record of investing in iconic companies at the inception stage. With over 50 years of experience in investing in enterprise, consumer, semiconductor, and human & planetary health companies, Mayfield has served as an early investor to over 550 companies, leading to 120 IPOs and over 225 M&As. Mayfield's investment team is guided by a "People First" philosophy, and they partner with entrepreneurs who are pursuing big ideas for the long term.

Mayfield invests at the inception stage of companies, with selective investments in companies at Series B and beyond. Currently, they are investing out of their sixteenth early-stage fund, the $475M Mayfield XVI for inception-stage companies, and their Select funds, the $400M Select and Select II funds for companies at Series B and beyond. With $2.2 billion under management and 20 funds raised since its founding in 1969, Mayfield has an impressive track record of 119 IPOs, 500+ investments, $2.5B under management, and 200+ M&As.

Mayfield knows that company building is a marathon, not a sprint, and they're committed to helping entrepreneurs every step of the way. To cater to the unique needs of early-stage companies, they've designed the Mayfield Value-Add Platform (MVP) to provide support in three key areas of talent, marketing, and business development. MVP is a custom-designed immersion process to help jumpstart the journey from inception to becoming an iconic company. Mayfield's unique approach is consultative, custom, and delivered by a senior team.

Mayfield's promise to entrepreneurs is to help them build iconic companies. With their experience, expertise, and commitment to people-first philosophy, Mayfield is an excellent partner for entrepreneurs who want to build great companies. 


History

Mayfield is a venture capital firm that was founded in 1969 by Thomas J. Davis, Jr., Tully M. Friedman, and C. Kevin Landry. The firm's name comes from the street address of its first office in Palo Alto, California.

Mayfield's first fund was a $10 million fund that was focused on early-stage investments in technology companies. The firm's early investments included companies such as Intel, Atari, and Genentech, which all became iconic companies in their respective industries.

Throughout the 1970s and 1980s, Mayfield continued to invest in early-stage technology companies, including Compaq, Silicon Graphics, and 3Com. In 1983, Mayfield launched its first fund focused on healthcare investments, which led to investments in companies such as Amgen and Chiron.

In the 1990s, Mayfield expanded its focus to include consumer companies, investing in companies such as Starbucks and LendingClub. Mayfield also expanded globally, opening offices in India and China to invest in emerging markets.

In the 2000s, Mayfield continued to invest in technology, healthcare, and consumer companies, with a focus on early-stage investments. The firm's notable investments during this time include Lyft, SolarCity, and Marketo.

In June 2011, Mayfield invested in the field of SaaS software startup ServiceMax. In September, Mayfield invested in Zimride's Series A funding round, a predecessor to ride-hailing service Lyft. Also in 2011, Navin Chaddha took over as managing partner of Mayfield. In April 2012, Mayfield invested $12M in ad-tech startup Moat, which was acquired by infotech company Oracle in 2017. In late 2012, Mayfield benefited from its investment in SolarCity when the solar energy company went public.

In 2013, the firm relocated to its current office on Silicon Valley's Sand Hill Road, in Menlo Park. In April 2016, the firm closed two new funds totalling up to $525 million: Mayfield XV, a fund focused on early-stage companies, and Mayfield Select, designed for later-stage investing.

In June 2019, Mayfield was among several companies that participated in a $200M funding round for data centre management company Fungible. In 2022, Navin Chaddha was named to the Midas List as the number 5 venture capitalist of the year.

Today, Mayfield is a leading venture capital firm with over 50 years of experience investing in iconic companies at the inception stage. The firm's investment team operates from a shared set of beliefs and partners for the long term with entrepreneurs pursuing big ideas. Mayfield is currently investing out of their sixteenth early-stage fund, the $475M Mayfield XVI for inception-stage companies, and their Select funds, the $400M Select and Select II funds for companies at Series B and beyond.

Mayfield's commitment to its people-first philosophy and unique approach to supporting early-stage companies through its Value-Add Platform has made it a trusted partner for entrepreneurs looking to build iconic companies. With $2.2 billion under management and a track record of 119 IPOs, 500+ investments, $2.5B under management, and 200+ M&As, Mayfield has established itself as a leading venture capital firm in the industry.


Investment criteria

According to mayfield, their invest criteria is “Our investment team operates from a shared set of beliefs and partners for the long term with entrepreneurs pursuing big ideas. We invest at the inception stage of companies at Seed and Series A, with selective investments in companies at Series B and beyond. We are currently investing out of our sixteenth early-stage fund, the $475M Mayfield XVI for inception stage companies, and our Select funds, the $400M Select and Select II funds for companies at Series B and beyond.”

Mayfield invests in early-stage companies with a focus on enterprise, consumer, semiconductor, and human & planetary health companies. The firm has a shared set of beliefs and invests in entrepreneurs who are pursuing big ideas for the long term. Mayfield's investment criteria include:

  • Market opportunity: Mayfield looks for companies that are operating in large and growing markets, with significant potential for disruption and innovation. They seek to invest in companies that are solving important problems and have the potential to create new markets.
  • Strong management team: Mayfield believes that the management team is critical to the success of a company. They look for experienced and passionate entrepreneurs who have a deep understanding of the market they are operating in and have a clear vision for the future of their company.
  • Competitive advantage: Mayfield looks for companies that have a unique and defensible competitive advantage. They seek companies that have developed innovative technologies or business models that give them a significant edge over their competitors.
  • Traction: Mayfield looks for companies that have demonstrated traction in the market, with early customer adoption, revenue growth, and other metrics that indicate market validation.
  • Stage of investment: Mayfield invests primarily at the inception stage of companies, but also selectively invests in companies at Series B and beyond. They seek to partner with entrepreneurs for the long term, and their investment horizon typically spans several years.

Mayfield's investment criteria are guided by its People First philosophy and its commitment to helping entrepreneurs build iconic companies. Their approach is consultative, custom, and delivered by a senior team, and they are focused on providing value beyond just capital to help companies achieve their full potential.


Values

Values of Mayfield, as advertised on their website are: 

  • The motto is People First.
  • Embrace the unconventional, the different, and the unusual.
  • Great people evolve.
  • Be loyal to a fault.
  • Company building is a team sport.
  • Don’t beat around the bush.
  • All of us are better than any one of us.

Mayfield is guided by a set of core values that shape its approach to investing and its commitment to supporting entrepreneurs. These values include:

  • People First: Mayfield believes that people are the most important factor in building successful companies. They prioritize investing in strong management teams and are committed to building lasting relationships with the entrepreneurs they partner with.
  • Long-term thinking: Mayfield takes a long-term approach to investing and believes that company building is a marathon, not a sprint. They are committed to supporting entrepreneurs through the ups and downs of building a company and are focused on helping them achieve their long-term vision.
  • Innovation: Mayfield believes in the power of innovation to solve important problems and create new opportunities. They are committed to investing in companies that are developing breakthrough technologies and business models that have the potential to change the world.
  • Partnership: Mayfield views their relationship with entrepreneurs as a partnership, where both parties are working towards a common goal. They are committed to providing value beyond just capital, including strategic guidance, operational support, and access to their network of industry experts.
  • Diversity and inclusion: Mayfield is committed to promoting diversity and inclusion in their investments and their team. They believe that diverse perspectives lead to better outcomes and are actively working to increase diversity in the companies they invest in and their organization.

Their investment philosophy and their commitment to supporting entrepreneurs. They are focused on building lasting relationships with the entrepreneurs they partner with and helping them achieve their full potential.


Mission

Mayfield's mission statement is to invest in and support exceptional entrepreneurs who are building iconic companies that have the potential to change the world. Their goal is to identify and invest in companies that are developing breakthrough technologies and business models that can disrupt industries and solve important problems.

As a venture capital firm, Mayfield is committed to investing in the long-term success of their portfolio companies. They take a consultative and custom approach to investing, working closely with entrepreneurs to provide strategic guidance, operational support, and access to their network of industry experts. Their focus is on helping companies achieve their full potential and become leaders in their markets.

At the core of Mayfield's mission is its People First philosophy, which emphasizes the importance of building strong relationships with the entrepreneurs they invest in. They believe that investing is more than just providing capital, and they are committed to providing value beyond money to help entrepreneurs achieve their vision.


Portfolio

Since their founding in 1969, Mayfield has invested in over 500 companies, leading to 119 IPOs and over 200 M&As. Some of their notable portfolio companies include:

  • Lyft: Mayfield was an early investor in Lyft, a ride-hailing company that has disrupted the transportation industry. Lyft went public in 2019, and Mayfield continues to be a significant shareholder in the company.
  • HashiCorp: Mayfield was an early investor in HashiCorp, a software company that provides tools for infrastructure automation. HashiCorp has become a leader in its market and has raised over $350 million in funding.
  • Poshmark: Mayfield was an early investor in Poshmark, an online marketplace for secondhand clothing and accessories. Poshmark went public in 2021 and has a market capitalization of over $3 billion.
  • Gigamon: Mayfield was an early investor in Gigamon, a network security company that was acquired by Elliott Management for $1.6 billion in 2017.
  • CloudGenix: Mayfield was an early investor in CloudGenix, a software-defined wide area network (SD-WAN) company that was acquired by Palo Alto Networks for $420 million in 2020.
  • Mammoth Biosciences: Mayfield was an early investor in Mammoth Biosciences, a biotech company that is developing CRISPR-based diagnostic tools. Mammoth Biosciences has raised over $150 million in funding and has partnerships with major healthcare companies.

Mayfield's portfolio is diverse, spanning industries such as enterprise software, consumer technology, healthcare, and more. They are focused on investing in companies that have the potential to become leaders in their markets and have a positive impact on the world.


 


References
Mayfield
Leadership team

Thomas J. Davis Jr. (Founder)

Rajeev Batra (Enterprise, Consumer)

Navin Chaddha (Enterprise, Consumer, Semiconductors, Web3)

Tim Chang (Consumer)

Rishi Garg (Consumer)

Gamiel Gran (Chief Commercial Officer)

Arvind Gupta (Human & Planetary Health)

Patrick Salyer (Enterprise)

Number of Employees
0 - 50
Headquarters
Sand Hill Road in Menlo Park, California.
Established
1969
Social Media