Arnold & Porter Advises D. E. Shaw Ventures on OpenAI, Anthropic Investments
Arnold & Porter recently advised D. E. Shaw Ventures, the D. E. Shaw group’s venture capital and growth equity arm, on investments in OpenAI and Anthropic.
Most recently, the firm counseled D. E. Shaw Ventures on its Series C investment in OpenAI. This investment was part of the $122 billion financing round, co-led by D. E. Shaw Ventures, which valued OpenAI at $852 billion post-money and closed on March 31, 2026. Arnold & Porter previously advised D. E. Shaw Ventures in an investment ahead of OpenAI’s $6.6 billion tender offer, which was completed in October 2025.
The firm also recently represented D. E. Shaw Ventures in connection with its role as a co-lead in Anthropic’s $30 billion Series G financing round, which valued Anthropic at $380 billion post-money and closed on February 12, 2026.
The Arnold & Porter team counseling D. E. Shaw Ventures on the OpenAI investment was led by partner Marina Richter and included partners Stephanie Coutu and Ed Deibert, senior counsel Joel Greenberg, senior attorney Stacie Jeong, senior associate Trevor Schmitt, and associate Anna Cardoso. Partner Reuven Graber and counsel Kathleen Wechter provided tax advice.
The Arnold & Porter team counseling D. E. Shaw Ventures on the Anthropic investment was led by partner Marina Richter and included partner Stephanie Coutu, counsel Peter Danias, senior attorney Stacie Jeong, and associate Anna Cardoso. Partners Deborah Curtis and Debbie Feinstein provided regulatory and antitrust advice, respectively.
