Mayfield, a Menlo Park, Calif.-based venture capital firm, announced that Sri Pangulur, a proven enterprise investor and operating leader, will join the team as the first dedicated partner to focus on investing out of the firm’s Select/Spring funds.
These funds invest in new companies (primarily at the Series B round) from outside its portfolio and follow-on rounds of existing breakout portfolio companies. This brings the investing team to eight partners, along with the founder amplification team of four operating executives who provide business development, marketing, operations, finance, and talent support.
Pangulur will focus on investing in enterprise infrastructure, AI, developer tools, and SaaS. The Select/Spring funds represent approximately $800 million of capital. To date, the firm has invested in 23 companies across all layers of the technology stack from Select Funds I & II, and announced its new $375M Select III/Spring Fund in May of this year.
Prior to Mayfield, Pangulur led the enterprise software investing practice at Tribe Capital and was an active angel investor before that. Some entrepreneurs he has partnered with include the teams from Apollo.io, LinearB, Docker, JupiterOne, Orum, Instabase, MindsDB, Abnormal Security, Hasura, HYCU, Nylas, Airbyte, Hightouch, and Oort.
During his operating career, Pangulur held sales and business development leadership roles across multiple enterprise infrastructure and SaaS companies. Prior to his operating tenure, Sri was a member of the investment banking division of Barclays Capital.
This announcement follows the news of the firm’s first seed fund – the $250 million AI Start – in July, and the raise of $955 million across two funds – Mayfield XVII and Mayfield Select III/Spring – in record time in May.
Mayfield is an early-stage venture capital firm with $3 billion under management. The firm has a proven track record of partnering with founders starting at the inception stage to help build iconic companies that leverage innovations in IT and biology. Mayfield 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.