Internal Memo Available HereAnthropic is a San Francisco–based AI company founded in 2021 by former OpenAI research leaders, including CEO Dario Amodei. Anthropic focuses on building large-scale AI systems with a safety-first approach, using its proprietary “Constitutional AI” method to align model behavior with human values. Its flagship product family, Claude, includes the Claude 3 and Claude 4 series, ranging from the high-performance Opus models to the faster, lower-latency Sonnet and Haiku tiers, offering advanced reasoning, coding, and enterprise-grade capabilities.
Anthropic closed a $13B billion Series F in September 2025, led by INCONIQ Capital, Fidelity Management, and Lightspeed Venture Partners with participation from Altimeter Capital, Baillie Gifford, BlackRock, Blackstone, Coatue, D1 Capital Partners, General Atlantic, General Catalyst, GIC (Pte) Ltd, Goldman Sachs Alternatives, Insight Partners, Jane Street, Ontario Teachers’ Pension Plan (OTPP), the Qatar Investment Authority, TPG, and T. Rowe Price, at a $183 billion post-money valuation.
Demand for Anthropic's models has grown exponentially, with ARR accelerating from $1B in December 2024 to over $5B by the end of July 2025. According to the most recent reports, the company is now approaching a $7B run-rate and is on pace to reach $9B by year-end. Looking ahead, Anthropic projects a base case of $20B run-rate ARR by the end of 2026, with a best case of $26B+, which would make it the fastest company in history to reach that milestone. Anthropic is now the leading model provider for enterprise, successfully surpassing OpenAI as demand for coding applications—predominantly powered by Anthropic—has surged.
Anthropic's run-rate:
EOY 2022: $10M
EOY 2023: $100M
Dec 2024: $1B
Mar 2025: $2B
May 2025: $3B
Jul 2025: $5B
Oct 2025: ~$7B
Projected EOY 2025: $9B
Projected EOY 2026: $20B (base case), $26B+ (best case)
This is our second allocation in Anthropic and our first for accredited investors (vs. qualified purchasers)
Disclaimers and instructions:
This investment opportunity is available to accredited investors only. Members interested in participating will need to register and confirm their accreditation status on Sydecar. You can begin this process by clicking "Explore and Participate"
The opportunity is made available by KCA Select Ventures, LLC, through Sydecar, an industry-leading platform ensuring compliance, security, capital transfers, distributions.
You will need to confirm that you know Duende Capital Partners Corporation or Brady Mason and have a pre-existing relationship on Sydecar in order to participate in the opportunity. Duende is our partner on this allocation.
Investments in private companies are high-risk and illiquid.