Pension funds for public employees in Orange County, Los Angeles, Massachusetts and South Carolina stand to profit from Anthropic’s November IPO through their investments in venture firm Spark Capital, which put about $777M into Anthropic across six rounds and could make $9B or more, according to The Information. The Orange County and Los Angeles city employee pensions each committed about $33M to Spark’s 2021 and 2023 growth funds, which backed Anthropic’s rounds from 2023 on, including a 2024 raise that valued it around $20B, versus the $1.5T it’s expected to list at. The Information couldn’t learn how big each pension’s share is, and lockups lasting as long as a year mean the cash won’t arrive right away.
