Morgenthaler Ventures

Morgenthaler Ventures was a venerable venture capital and private equity firm with a rich history spanning over five decades, having been founded in 1968. Based in Menlo Park, California, the firm established itself as a significant player in the technology and life sciences sectors, known for its early-stage investments. Over its operational history, Morgenthaler Ventures made a substantial impact, participating in 282 investments and achieving 108 exits, including highly successful companies like Siri (acquired by Apple), Evernote, LendingClub, MuleSoft, and Docusign. The firm managed substantial capital, with its last reported fund, Morgenthaler Partners X, closing in 2008 with $400 million.

In a strategic move, Morgenthaler Ventures ceased active new investments as a unified entity. Its specialized teams spun out to form independent venture capital firms. The early-stage IT investment team transitioned to establish Canvas Ventures, focusing on new technology opportunities. Concurrently, the healthcare investment team formed Lightstone Ventures, continuing to pursue opportunities within the life sciences sector. This restructuring allowed the specialized teams to operate with greater autonomy and focus on their respective domains, building upon the legacy and expertise cultivated at Morgenthaler Ventures.

Given that Morgenthaler Ventures itself is no longer actively making new investments, its historical typical first check sizes are not directly applicable to current market opportunities. The firm's focus was primarily on early-stage companies, often participating in Seed to Series B rounds. While specific historical check sizes are not publicly detailed for every investment, their participation in numerous early rounds and their substantial fund sizes suggest investments ranging from several hundreds of thousands to multi-million dollar figures, depending on the stage and capital requirements of the portfolio companies. For current investment inquiries, prospective companies should instead approach Canvas Ventures or Lightstone Ventures, depending on their sector.