October has been a landmark month for the 7GC portfolio, with IPO milestones at two companies across Fund I and Fund II. In Fund II, Anthropic publicly filed its S-1 on 26 October for a proposed Nasdaq listing, which could become the largest IPO in history. In Fund I, Jio Platforms listed on 28 October in India’s largest-ever IPO.
Anthropic Files Public S-1, AHEAD OF Nasdaq Debut
Anthropic, founded in 2021 by Dario Amodei, Daniela Amodei and five co-founders, has become one of the world’s leading AI companies. Its Claude models are used by businesses globally.
On 26 October 2026, Anthropic publicly filed a registration statement on Form S-1 with the S.E.C for a proposed initial public offering of its Class A common stock. It intends to list on the Nasdaq Global Select Market under the symbol “ANT”. The number of shares to be offered and the price range have not yet been determined.
The filing gives the first full view of Anthropic’s finances. Revenue reached $16.3 billion in the first half of 2026, around 14 times the same period a year earlier, driven mainly by businesses using Claude. Growth accelerated through the period, with second-quarter revenue of $11.6 billion. Anthropic reported its first quarterly operating profit, $974 million in the second quarter, and generated $3.9 billion of operating cash flow over the half.
Anthropic is investing at an unprecedented scale in AI infrastructure. The filing details multi-year commitments worth hundreds of billions of dollars for data centres, chips and computing power, including WITH Broadcom, SpaceX, GOOGLE, AWS AND MICROSOFT.
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“We believe that AI is one of the most consequential technologies in human history”
Fund II invested in Anthropic’s Series D in February 2024 ALONGSIDE MENLO VENTUREs, when the company was valued at around $18 billion. Anthropic has been a core driver of Fund II’s performance, and the filing is a significant step towards a public market liquidity event for the position. WE WILL SHARE MORE INFORMATION WITH OUR INVESTORS in our QUARTERLY REPORTING.
Jio Valued at ~$140B After Day 1 of India’s Largest-Ever IPO
Jio Platforms, listed in Mumbai on 28 October 2026. Its $3.1 billion offering is the largest IPO in Indian history.
The shares closed their first day of trading up 27% on the offering price, valuing the company at close to $140 billion. That is comparable to AT&T and makes Jio Platforms India’s second most valuable listed company, behind only its parent, Reliance Industries. The result stands out in a difficult market: most of the 300 or more companies that have listed in India this year are trading below their offering price.
Jio’s growth has tracked India’s digital transformation. At its 2016 launch, only around a quarter of Indians owned a smartphone, and most mobile connections ran on 2G. Jio reached 100 million customers within six months. Today it serves 524 million users, most of them on 5G, and Indian users consume more mobile data per head than anywhere else in the world. Over the same period, transactions on India’s national real-time payments system have grown tenfold.
Akash Ambani, who took charge of Jio Platforms in April as MANAGING DIRECTOR, now leads the company into its next phase as a public company, with fresh capital to grow revenue from its existing customer base.
“Today’s listing is not a finish line, but a starting line. One day, Jio Platforms will become one of the greatest technology companies in the world.”
7GC invested in Jio Platforms in July 2020 alongside KKR, when Jio was raising capital from a small group of global technology investors. At listing, the company’s value has roughly doubled in dollar terms since that round. The IPO gives Fund I a public mark on one of its largest direct holdings and a clear path to distributions once post-listing lock-up restrictions lapse. MORE INFORMATION WILL BE SHARED TO OUR INVESTORS SOON.
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