# Anthropic's cap table: how VCs came late to its funding rounds

> Original title: The Story of Anthropic’s Cap Table: VCs Showed Up Late to the Party, Toting All the Cash They Could Wrangle

- Source: Newcomer
- Published: 2026-10-22T15:53:55.000Z
- Bad Influence: https://badinfluence.news/items/mkyuzxaisv525yvbyh4duuamo
- Original: https://www.newcomer.co/p/the-story-of-anthropics-cap-table

## Summary

Newcomer reports that no venture firm owns more than 2% of Anthropic ahead of its expected IPO, a highly unusual position for a tech company going public. Early backing came mainly from wealthy individuals, including Jaan Tallinn, who led the Series A, and Sam Bankman-Fried, who led the Series B. Spark Capital led the Series C in 2023, and later rounds involved Menlo Ventures, Lightspeed, and Iconiq, with disputes over special purpose vehicles.