Key Takeaways
- • Coatue has invested a total of $4.75 billion in Anthropic, and its stake is now worth roughly $7.5 billion based on the last round's price, according to a person familiar with the matter.
- • Iconiq's $6 billion late-stage investment, made when Anthropic was valued at $183 billion, is now worth $17 billion and could double at the IPO, per Bloomberg.
- • Menlo Ventures, which led Anthropic's Series D and has invested more than $1 billion, holds a stake now worth $14 billion.
- • Spark Capital's $75 million Series C investment at a $5 billion valuation has grown more than ninetyfold to roughly $7 billion, and it is the only VC firm known to hold an Anthropic board seat.
- • Eric Schmidt's stake of about 1%, bought in the 2021 Series A, is worth nearly $10 billion at Anthropic's latest private valuation of $965 billion.
Summary
Early and later-stage backers of Anthropic already hold substantial paper gains ahead of the AI lab's expected public listing, which is anticipated this year at a valuation of as much as $2 trillion. Even at the company's latest private market valuation of $965 billion, according to TechCrunch citing Bloomberg, the combined stakes of its venture and early investors total billions of dollars.
Coatue first backed Anthropic in 2025 at a $183 billion valuation and co-led the company's last two funding rounds. The firm has put a total of $4.75 billion into the company, and that position is now worth roughly $7.5 billion based on the last round's price, according to a person familiar with the matter. Coatue declined to comment.
Iconiq wrote a $6 billion check last year, when Anthropic was already valued at $183 billion. That late-stage position is now worth $17 billion and has the potential to double at the IPO. Menlo Ventures led Anthropic's Series D and has invested more than $1 billion over time, a stake now valued at $14 billion. Sequoia backed the company for the first time earlier this year, when it was valued at $380 billion; its $3 billion investment bought about 1% ownership and has already more than doubled.
Earlier investors show even larger multiples. Eric Schmidt, the former Google CEO, invested in Anthropic's Series A in 2021, when the startup was valued at $461 million according to PitchBook data. He owns about 1% of the company, and his stake is worth nearly $10 billion at the current private valuation. Spark Capital, the only VC firm known to hold a board seat at Anthropic, invested $75 million in the 2023 Series C at a $5 billion valuation; that position has grown more than ninetyfold to $7 billion. Sound Ventures, launched by Guy Oseary and Ashton Kutcher, invested $35 million in the same Series C round and has since added $400 million, resulting in a stake worth billions. Kutcher left Sound Ventures this year to launch a new VC firm.
All valuations are calculated at the last funding round's price and are not realized returns until the shares are sold.
Coatue first backed Anthropic in 2025 at a $183 billion valuation and co-led the company's last two funding rounds. The firm has put a total of $4.75 billion into the company, and that position is now worth roughly $7.5 billion based on the last round's price, according to a person familiar with the matter. Coatue declined to comment.
Iconiq wrote a $6 billion check last year, when Anthropic was already valued at $183 billion. That late-stage position is now worth $17 billion and has the potential to double at the IPO. Menlo Ventures led Anthropic's Series D and has invested more than $1 billion over time, a stake now valued at $14 billion. Sequoia backed the company for the first time earlier this year, when it was valued at $380 billion; its $3 billion investment bought about 1% ownership and has already more than doubled.
Earlier investors show even larger multiples. Eric Schmidt, the former Google CEO, invested in Anthropic's Series A in 2021, when the startup was valued at $461 million according to PitchBook data. He owns about 1% of the company, and his stake is worth nearly $10 billion at the current private valuation. Spark Capital, the only VC firm known to hold a board seat at Anthropic, invested $75 million in the 2023 Series C at a $5 billion valuation; that position has grown more than ninetyfold to $7 billion. Sound Ventures, launched by Guy Oseary and Ashton Kutcher, invested $35 million in the same Series C round and has since added $400 million, resulting in a stake worth billions. Kutcher left Sound Ventures this year to launch a new VC firm.
All valuations are calculated at the last funding round's price and are not realized returns until the shares are sold.
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