In 2023 Sound Ventures invested a cumulative $435m in Anthropic via the
company's first institutional-led round, taking about a 0.5% stake. Based on
Anthropic's planned IPO valuation of $1.4tn, that stake would be worth roughly
$7bn, an approximately 1,500% increase over cost. Sound Ventures had previously
invested in OpenAI and proceeded with the Anthropic investment only after
receiving permission from OpenAI CEO Sam Altman.