Orrick, Herrington & Sutcliffe LLP, Gunderson Dettmer and Latham & Watkins have advised on Anthropic’s US$65 billion Series H financing round, which valued the AI safety and research company at a post-money valuation of US$965 billion.
The financing was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, with participation from several other investors, including funds affiliated with Blackstone.
The funding is expected to support Anthropic’s safety and interpretability research, expand compute capacity to meet growing demand for Claude, and scale the products and partnerships relied upon by its customers.
Orrick, Herrington & Sutcliffe LLP acted as counsel to Anthropic in connection with the Series H financing.
The Orrick team was led by Laura Barr and Stephen Venuto, and included Christina Catzoela, Sabrina Benyammi, Brandon Sanders, Rajan Patel, Bess Blumenfeld, Andrew Savage, Bailey Higgs, Aaron Lahijani, Sheila Maguire, Erica Kaiser, Julia Orr and Maya Krpata. The team was further assisted by Harry Clark, Greg Hume, Amy Ray and Kristin Petersen.
Gunderson Dettmer represented the lead investors – Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital – as well as several other participating investors in the Series H financing.
The Gunderson team was led by Corporate Partners Greg Volkmar, Hilary Adams, Steve Baglio, Mark Oblad, Ryan Purcell and Jeff Stricker, and included Corporate Associates Caroline Ceriello, Lawrence Ho, Darien Pun, Handi Xu, Nehemiah McGowan and Sam Nyitray. Strategic Transactions and Licensing advice was provided by Partners Aaron Rubin and Katie Gardner, and Associate Emily Miller. Data Privacy advice was provided by Partner Anna Westfelt, and Regulatory advice was provided by Partner Gregory Kinzelman.
Latham & Watkins represented funds affiliated with Blackstone in their investment in Anthropic as part of the Series H financing round.
The Latham corporate deal team was led by Partners David Beller and Michael Benjamin, with support from Associates Said Bakir and Abigail Keyes.
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