Anthropic backers see billions in gains
Early and late investors stand to gain significantly as the AI lab prepares for a massive public offering later this year.
By Anthony Shevchenko ·
The upcoming public listing of Anthropic is set to redefine wealth distribution within the venture capital ecosystem. Market analysts anticipate the company will go public this year, with a valuation that could reach up to two trillion dollars. Even before this potential milestone, the private market valuation of 965 billion dollars has already generated substantial equity value for the firm's backers.
Eric Schmidt, the former chief executive of Google, represents one of the earliest and most profitable entries into the company. He participated in the Series A round in 2021, a period when PitchBook data indicated the startup was valued at 461 million dollars. His initial investment has grown to represent approximately one percent of the total company. At the current private market price, this specific stake is valued at nearly 10 billion dollars.
Later-stage investors have also seen their positions appreciate significantly due to the rapid increase in the company's worth. Iconiq, an investment firm, committed 6 billion dollars to Anthropic last year. This occurred when the enterprise was already appraised at 183 billion dollars. That substantial late-stage bet is now calculated to be worth 17 billion dollars, with expectations that it could double in value once the shares are publicly traded.
Menlo Ventures, which led the Series D funding round, has poured over 1 billion dollars into the AI laboratory over time. This cumulative investment currently represents a holding worth 14 billion dollars. Similarly, Sequoia, a renowned venture capital firm, entered the picture earlier this year. At that time, the company's valuation stood at 380 billion dollars. The firm's 3 billion dollar investment secured roughly one percent ownership, meaning the stake has already more than doubled its initial cost.
Other notable backers include Sound Ventures, a firm co-founded by Guy Oseary and actor Ashton Kutcher. This group invested 35 million dollars during the 2023 Series C round. They subsequently added 400 million dollars to their commitment, creating a stake now valued in the billions. It is worth noting that Kutcher departed Sound Ventures earlier this year to establish his own new venture capital firm.
Spark Capital holds a unique position as the only venture capital firm known to have a board seat at Anthropic. The firm invested 75 million dollars in the same 2023 Series C round, back when the company's valuation was 5 billion dollars. That initial position has expanded by more than ninety times, resulting in a current value of 7 billion dollars. These figures illustrate the immense leverage that early access to high-growth AI technologies can provide to institutional investors.
