OpenAI-rival Anthropic sets limits on how investors can participate in upcoming $5 billion fundraise

Claude-maker Anthropic has told investors that the AI company does not want money coming through special purpose vehicles (SPVs) in its latest fundraising. Citing two people familiar with the matter, a Business Insider report said that one of Anthropic’s largest backers, Menlo Ventures, was specifically told it must invest using its own capital and not through an SPV, as it did in a past round. The company, as per the report, is raising about $5 billion at a valuation of $170 billion.

What are special purpose vehicles investment fund