The key facts

  • Anthropic could go public this year at a valuation of up to $2 trillion; its latest private valuation is $965 billion
  • Eric Schmidt invested in the 2021 Series A at a $461 million valuation and owns about 1% of the company (~$10 billion)
  • Iconiq ($17 billion), Menlo Ventures ($14 billion), Sequoia, Sound Ventures and Spark Capital have recorded multiple increases in the value of their stakes

Investor valuations before listing

Anthropic's public offering expected this year at a valuation of up to $2 trillion promises substantial gains for both early and late investors. But even at the company's latest private valuation of $965 billion, the stakes of many venture funds and early backers are worth billions of dollars — such calculations are provided by Bloomberg.

Early and late round participants

Eric Schmidt, former CEO of Google, invested in Anthropic's Series A in 2021, when the startup was valued at $461 million (PitchBook data). Today he owns roughly 1% of the company, and even at the current private valuation his stake is worth almost $10 billion. Iconiq last year put in $6 billion at a $183 billion valuation — that bet is now worth $17 billion and could double at the IPO. Menlo Ventures, which led the Series D and invested more than $1 billion in total, holds a package worth $14 billion.

Funds that came in later

Sequoia invested in the company for the first time only this year at a $380 billion valuation: a $3 billion investment bought about 1% of the capital, meaning the investment has already more than doubled. Sound Ventures, founded by Guy Oseary and actor Ashton Kutcher, put $35 million into the 2023 Series C and then added another $400 million; its stake is now worth billions. (Kutcher left Sound Ventures this year to launch a new venture fund.) Spark Capital — the only known venture firm with a seat on Anthropic's board of directors — invested $75 million in the same Series C round at a $5 billion valuation; the position has grown more than 90-fold, to $7 billion.