One pocket, different continents: Lightspeed and other giants bet on Anthropic and Sarvam AI
The global artificial intelligence race is taking on entirely new contours. At first glance, the American giant Anthropic (creator of Claude) and the Indian startup Sarvam AI are competitors from different weight classes and continents. However, digging deeper, we discover something more than just technological rivalry. They are united by an invisible but powerful financial infrastructure, represented by the same major venture capital funds.
The connecting link is Lightspeed Venture Partners. It was this fund that led the famous Series E round for Anthropic, raising $3.5 billion in March 2025, valuing the company at $61.5 billion. But Lightspeed did not stop there. According to official documents from Indian regulators, the same entity, through its subsidiaries, acquired stakes in the equity, preferred shares, and convertible bonds of Axonwise Private Limited — the legal entity that supports Sarvam AI.
Investor Pool: From California to Bangalore
Recently, Sarvam AI raised $234 million at a valuation of $1.5 billion. This project, founded in 2023 by renowned engineers Vivek Raghavan and Pratyush Kumar, is clearly in the spotlight of the same players as Anthropic. But Lightspeed is not the only common shareholder.
General Catalyst is also present in the capital of both companies. Their entry into the Indian market occurred after the acquisition of the Venture Highway fund in 2024, which held Sarvam's Series A convertible bonds. Notably, General Catalyst invests not only in Anthropic and Sarvam but also in the French startup Mistral AI. Thus, this fund is betting on three key laboratories worldwide simultaneously.
Khosla Ventures also appears on the list of Sarvam shareholders. This fund holds both common and preferred shares of the startup. However, Khosla Ventures' history is notable because it was the first venture investor in OpenAI, and now it is also investing in Anthropic.
My analysis shows: we are witnessing the formation of a global "pool" of capital that strategically distributes risks among the world's leading AI labs. This is not just competition, but a strategic intertwining of interests, where the same funds decide which technologies will dominate the market tomorrow. For retail investors, this is a signal: tracking the portfolios of Lightspeed, General Catalyst, and Khosla Ventures is becoming more important than following individual startup news.