Anthropic Clamps Down On Unsanctioned SPV Deals

Business Insider reports that despite Anthropic's ban on special purpose vehicles (SPVs) since last summer and during its recent $30 billion fundraising round, multiple unsanctioned SPVs continue to market Anthropic shares. One pitch viewed by Business Insider offered shares at a $350 billion valuation while charging 10% management and 10% carry and using multilayer secondary structures, raising disclosure and fraud concerns. The proliferation forces investors to verify share legitimacy and fee terms.