Early Anthropic Backers Set for Massive Payouts as IPO Looms

A wave of massive financial gains is heading toward the investors who backed Anthropic, as the artificial intelligence laboratory prepares for a public listing that could value the company at as much as $2 trillion this year. While the eventual IPO is poised to generate significant returns, the current private market valuation of $965 billion has already cemented substantial wealth for those holding stakes in the firm.

According to Bloomberg, the stakes held by many venture capital firms and early backers are already valued at billions of dollars at the latest private pricing. Eric Schmidt, the former Google chief executive, is among those seeing major appreciation. Schmidt participated in the Series A funding round in 2021, a time when the startup carried a valuation of $461 million. Today, his holding of roughly 1% of the company is worth nearly $10 billion.

Other firms have entered the picture later in the company’s history but have still secured lucrative positions. Iconiq, an investment outfit, provided a $6 billion check to Anthropic last year. That investment, made when the company was valued at $183 billion, is now worth $17 billion. The firm has the potential to double that amount when the public offering occurs.

Menlo Ventures, which led the Series D funding round, has committed more than $1 billion to the company over time. That stake is currently valued at $14 billion. Sequoia Capital, a prominent venture capital firm, entered the fray only earlier this year. The firm invested $3 billion when Anthropic was already valued at $380 billion, acquiring approximately 1% ownership. Consequently, Sequoia has already more than doubled its investment.

Investments made during the Series C round in 2023 have also yielded significant returns. Sound Ventures, the firm launched by Guy Oseary and actor Ashton Kutcher, put $35 million into that round. The firm has since added another $400 million, resulting in a stake currently valued at billions. It is noted that Kutcher departed Sound Ventures this year to establish a new venture capital entity.

Spark Capital, the only venture capital firm known to hold a board seat at Anthropic, also participated in the 2023 Series C round with a $75 million investment. At that time, Anthropic was valued at $5 billion. That position has expanded more than ninetyfold and is now valued at $7 billion.

The impending public listing is expected to occur later this year. When it does, it is set to provide a major windfall for both early-stage backers and those who joined at later stages of the company’s development.