Cursor Strikes SpaceX Option Deal At $60bn
Cursor is an AI code-editing platform developed by Anysphere and used by software engineers to improve productivity. SpaceX has agreed a deal giving it the right to acquire Anysphere for $60bn this year, with a $10bn payment due if SpaceX does not proceed. The partnership is intended to combine Cursor’s AI coding product and developer distribution with SpaceX’s computing resources, supporting further development of Cursor’s Composer model. Cursor’s annualised revenue surpassed $2bn earlier this year. Andreessen Horowitz and Thrive Capital co-led Anysphere's Series A and participated in all subsequent rounds. Cursor is an underlying asset of VenCap 16, VenCap 17 and VenCap 18.

 

Revolut Plans IPO At A Target Valuation Of $150bn To $200bn
Revolut is a London-based fintech and banking platform that has become Europe’s most valuable start-up. The company has discussed an IPO target valuation of $150bn to $200bn with investors, though it has indicated it will not seek a listing before 2028. Revolut’s last funding round in November valued the group at $75bn, and it is also preparing for a secondary share sale expected to value the company at more than $100bn. Its full UK banking licence is expected to support its strategy to expand lending and pursue further regulatory approvals internationally. Revolut is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16, VenCap 17 and VenCap 18.

 

Anthropic Secures $5 Billion From Amazon With Up To An Additional $20 Billion Tied To Commercial Milestones
Anthropic is an artificial intelligence company and developer of the Claude family of AI models. Amazon is investing $5 billion into Anthropic now and may invest up to an additional $20 billion tied to commercial milestones, on top of its previous $8 billion investment. Anthropic plans to spend more than $100 billion on Amazon Web Services over the next decade, including on Amazon’s custom Trainium chips. The agreement also gives Anthropic access to five gigawatts of AI compute and expanded inference capacity in Asia and Europe. Anthropic is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16 and VenCap 17.

 

Zum Receives $100 Million Investment At A $1.7 Billion Valuation
Zum is a student transportation company focused on modernising school transport services. TPG has made a $100 million investment through its Rise Fund, valuing the company at around $1.7 billion. The valuation represents an increase from Zum’s 2024 Series E round, when it was valued at $1.3 billion. The transaction follows the company reaching breakeven adjusted EBITDA. Zum is an underlying asset of VenCap 6, VenCap 10A and VenCap 13A.

 

Omni Raises $120M Series C At A $1.5B Valuation
Omni is an analytics platform designed to help organisations use trusted business data across dashboards, spreadsheets, SQL workflows and AI agents. The company raised $120M in Series C funding at a $1.5B valuation and launched an employee tender offer as part of the milestone. Omni reported that ARR has scaled 4x over the last year, reflecting growing demand for AI-native analytics built on governed semantic layers and business context. The company is expanding AI capabilities across its platform, including agents, APIs and an MCP server. Omni is an underlying asset of VenCap 6, VenCap 13B and VenCap 15.

 

Loop Raises $95 Million Series C
Loop is a full-stack, verticalised AI platform for logistics and supply chains. The company raised a $95 million Series C to expand its platform across more enterprise use cases, deepen product and engineering capabilities, and invest in AI talent. Loop helps enterprises structure fragmented operational and financial data to improve visibility, cost control, working capital management and supply chain decision-making. Its DUX family of models and agents supports document, data and domain understanding across logistics workflows. Loop is an underlying asset of VenCap 6, VenCap 16, VenCap 17 and VenCap 18.