Mayfield raises $525m across two global funds

The firm will deploy $400 million in early stage-focused vehicle Mayfield XV; Mayfield plans to invest in about 30 companies, as with its other global funds. The remaining $125 million is reserved for Mayfield Select, which will target follow-on investments in existing portfolio companies.

According to a statement, commitments to the funds came mostly from existing LPs. Mayfield XV will seek early-stage investments in technology companies serving the enterprise and consumer segments. Mayfield Select is the firm's first follow-on vehicle.

Mayfield has supported a number of tech companies focused on Asia, including SMIT Holdings, a China-focused provider of payment systems and security devices for TV broadcasters that filed for an IPO in Hong Kong earlier this year. The GP has also invested in several rounds for China's Lattice Power Corp, a maker of light-emitting diodes.

In addition to its global funds, Mayfield has also raised two India funds, the second of which launched in 2013 and closed in 2014 at $108 million. Its portfolio companies in the country include travel planning site TripHobo, to which it committed $3 million alongside Kalaari Capital in April 2015, and quick service restaurant chain Box8, which received INR210 million ($3.3 million) from Mayfield last May.

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