From $461 Million to Nearly $10 Billion: The Bets on Anthropic Before Its IPO

Anthropic's anticipated public listing this year, which could value the AI company at as much as $2 trillion, promises a major financial windfall for its investors. However, the enormous sums are already clear to some of its backers, even before the company goes public. According to Bloomberg, the stakes held by many of its venture capital firms and early investors are already valued at billions of dollars based on the company's most recent private market valuation of $965 billion.

The scale of the potential gain is a direct reflection of Anthropic's rapid growth. The company's valuation has surged from hundreds of millions of dollars in its earliest funding rounds to nearly a trillion dollars in its latest private valuation. This steep upward curve has transformed initial investments into substantial fortunes for those who participated in the company's financing at various stages of its development.

One of the most notable beneficiaries is Eric Schmidt, the former Google CEO. He participated in Anthropic's Series A round in 2021, when the startup's valuation stood at $461 million, according to PitchBook data. Today, Schmidt owns approximately 1% of the company. At its current private valuation, that stake is reported to be worth nearly $10 billion.

Investment firm Iconiq made a significant bet on the company last year, writing a $6 billion check when Anthropic was already valued at $183 billion. That late-stage investment is now valued at $17 billion, with the potential to double in value when the company goes public. Similarly, Menlo Ventures, the venture capital firm that led Anthropic's Series D round, has invested more than $1 billion in the company over time, resulting in a stake that is now worth $14 billion.

Other prominent venture capital firms also hold substantial positions. Spark Capital, the only venture firm known to have a board seat at Anthropic, invested $75 million in the company's Series C round in 2023 when it was valued at $5 billion. That investment has since grown more than ninetyfold to a value of $7 billion. Sound Ventures, the firm co-founded by Guy Oseary and actor Ashton Kutcher, invested $35 million in the same 2023 round and has since added an additional $400 million, building a stake now worth billions.

The prospect of a public offering has also drawn new, large-scale investment. Sequoia, the well-known venture firm, made its first investment in Anthropic earlier this year, when the company's valuation had already reached $380 billion. Its $3 billion investment resulted in about 1% ownership, a position that has already more than doubled in value.

The figures highlight the financial stakes for investors who backed the artificial intelligence lab at different points in its history. While those who invested early stand to see the most dramatic returns, even recent, large-scale investments have proven highly profitable as the company's valuation has climbed.

The upcoming public offering will be the ultimate test of Anthropic's valuation and the true scale of the returns for its backers. For now, the numbers show that for those who invested, the potential for a massive payout is already a reality, even before the company's shares are available to the public.