At a glance
- The New York firm's existing Anthropic holding was valued at about $5.3 billion at the company's May fundraising, which priced the Claude developer at $965 billion.
- For allocators with money in XN's funds, the letter commits the firm to enlarging a single private position marked at May's valuation.
- Anthropic filed for a Nasdaq listing under the ticker ANT on Oct. 27, as Alternatives previously reported.
XN told investors it intends to be a "large participant" in buying additional Anthropic shares at the AI company's anticipated listing, according to a letter sent Thursday and seen by the Financial Times.
The New York firm's existing Anthropic holding was valued at about $5.3 billion at the company's May fundraising, which priced the Claude developer at $965 billion. XN first invested in Anthropic in 2025 and has taken part in three funding rounds.
For allocators with money in XN's funds, the letter commits the firm to enlarging a single private position marked at May's valuation. The IPO price will set both the value of the existing stake and the cost of the additional shares.
Anthropic filed for a Nasdaq listing under the ticker ANT on Oct. 27, as Alternatives previously reported. The company had reportedly been targeting an IPO valuation above $1.5 trillion, with a listing potentially as early as this month. A broad-based sell-off in AI-linked equities on Thursday could complicate those ambitions.
Reported by the Hedge Funds & Liquid Alts desk from Hedgeweek and Alternatives archive. Published . Corrections