Anthropic

10 days agoNews Editor

Anthropic’s planned IPO could turn Spark’s $75 million stake into $7 billion, while FTX has already exited

Anthropic is reportedly moving toward an IPO as early as November, with some existing and prospective investors discussing a valuation of about $1.5 trillion, according to Reuters and Bloomberg reports cited in the source material. That would be roughly 55% above the company’s $965 billion post-money valuation from its May Series H round. Bloomberg’s reporting, based on people familiar with the matter, points to large paper gains across Anthropic’s cap table, spanning early venture firms, sovereign wealth funds, and individual backers. Among the investors highlighted, Iconiq has put in more than $6 billion and its stake is valued at about $17 billion using the $965 billion benchmark. Spark Capital’s $75 million investment from 2023 is now worth about $7 billion on the same basis, while Menlo Ventures’ stake is pegged at about $14 billion. Sequoia Capital and Singapore’s GIC each hold roughly 1%, implying a value of about $9.65 billion at that valuation. FTX stands out for a different reason. Court filings from the exchange’s bankruptcy case show that FTX affiliate Clifton Bay invested $500 million in Anthropic in 2021, then sold the entire position in 2024 for about $1.34 billion during the bankruptcy process. Anthropic and most of the named investors declined to comment, according to Bloomberg.

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Jio Platforms

13 days agoNews Editor

Jio Platforms anchor book draws more than 30x demand ahead of IPO, with BlackRock and GIC participating

Jio Platforms, the Indian telecom giant, drew more than 30 times subscription in the anchor investor portion of its initial public offering, according to CNBC. The company is seeking to raise as much as 302 billion rupees, or about $3.2 billion, in what would be India’s largest rupee-denominated IPO on record. People familiar with the matter said bids in the anchor tranche reached 2.5 trillion rupees, roughly $26.3 billion, far above the 81.1 billion rupees reserved for that segment. BlackRock, Capital Group and Singapore’s sovereign wealth fund GIC were among the participating institutions. Jio Platforms said Monday that it allocated 72.47 million shares to anchor investors at 1,119 rupees each, the top end of the price band. Other major investors that received allocations included India’s state-owned insurer LIC, Fidelity Investments, JPMorgan Asset Management and the Abu Dhabi Investment Authority. The public offering is scheduled to open from Wednesday through Friday, valuing the company at about $108 billion at the IPO price.

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SoftBank

4 months agoNews Editor

SoftBank’s $40 Billion Bridge Loan for OpenAI Draws 21 Additional Lenders

SoftBank Group’s $40 billion bridge loan tied to its investment in OpenAI has brought in 21 additional lending institutions during a broader syndication process, according to people familiar with the matter cited by Jin10 via Odaily. The newly added lenders were allocated about $7 billion of the facility. Among them, First Abu Dhabi Bank, GIC of Singapore, and Standard Chartered each took commitments of close to $1 billion. The remaining allocation was distributed to a group of banks from Europe, Japan, and Taiwan, China. People familiar with the matter said the other $33 billion of the bridge loan is still being held by underwriters and senior lenders for now, though more of the deal could be syndicated at a later stage. The update points to expanding lender participation as SoftBank arranges financing for its OpenAI investment.

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Notion

4 months agoNews Editor 01

Notion Closes $270 Million Private Equity Deal at $11 Billion Valuation

Notion has completed a roughly $270 million private equity transaction at an $11 billion valuation, with GIC joining Sequoia Capital and Index Ventures in a deal focused on employee liquidity.

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