Menlo Park, Calif. -- Mayfield Fund, the Menlo Park-based venture capital firm focused on early-stage IT companies, said on Thursday it has closed a new $365 million fund. Known as Mayfield XIV, the fund will continue the firm's strategy of investing in burgeoning companies in spaces such as mobile, cloud/SaaS, social, energytech and big data. "Mayfield XIV is our third consecutive sub-$400 million fund," said Navin Chaddha, who will lead the fund. "Despite being oversubscribed, we felt that keeping it to $365 million made sense for our early-stage investing focus." Mayfield active portfolio includes companies such as Appcelerator, Branchout, Couchbase, Gigya, Marketo, Solarcity and StorSimple.