Press Release

Alchemist Announces Backing from the Mayfield Fund

Mayfield and Alchemist Accelerator logos

MENLO PARK and SAN FRANCISCO, Calif. – January 30, 2024 

Alchemist is announcing today an investment from the Mayfield Fund.

The money will continue to support Alchemist’s mission of backing and launching the most promising startups disrupting enterprise innovation.

“We are thrilled to continue our long-standing partnership with the Mayfield Fund, which was one of the original backers of Alchemist when we first started,” says Ravi Belani, Managing Director of the Alchemist accelerator. “Mayfield has a deep understanding of how to support technical founding teams building iconic companies over the long haul. We are honored to partner with Mayfield again to usher in the next generation of founding teams with both deep technical skills and shrewd market vision. These are the teams that change the world.”

Beyond just investing in Alchemist, Mayfield will also be supporting Alchemist founders with ecosystem events, advice, and thought leadership.

“Mayfield and Alchemist have always been aligned in understanding the power of visionary, tech-driven teams to change the world,” says Navin Chaddha, Managing Partner of the Mayfield Fund. “These are unprecedented times for being an entrepreneur, and we are proud to back Alchemist to be a launching pad for ambitious teams looking to change the enterprise.”

For more information about Alchemist and to apply for the next class, visit

About Mayfield

Mayfield is an early-stage venture capital firm with a people-first philosophy and $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. The Firm 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. For more information, go to or follow Mayfield Fund on LinkedIn.

About Alchemist

Alchemist is a venture-backed accelerator focused on the development of seed-stage ventures that monetize from enterprises (not consumers). Alchemist backers include many of the top corporate and VC funds―including Mayfield Fund, Khosla Ventures, Foundation Capital, BASF, NEC, Cisco, Siemens, GE, and Salesforce, among others. The accelerator’s primary screening criteria is on teams, with primacy placed on having distinctive technical co-founders. Notable alums include LaunchDarkly, Kyte, MoEngage, Foresight, Privacera, Matternet, and mPharma. For more information, please visit


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