Anthropic backs its first European AI consultancy with buyout group Hg
What's the deal? Anthropic has agreed to back a new European consultancy with London-based private equity firm Hg, its first move to create an independent business selling AI expertise to companies on the continent. The venture will embed AI consultants and engineers into European businesses, leading the design of new products or supporting existing efforts, according to people familiar with the matter.
How it will work: The consultancy is expected to launch by the end of this year, with hubs in London and Berlin. It will target software companies serving business clients and other white-collar groups, and will also work with Hg's portfolio companies. Anthropic will contribute balance-sheet capital, while Hg invests from funds it manages, including its London-listed HgCapital TrustDealroom has a profile for this one. Try Dealroom →.
Why now? The partnership comes as European investors and policymakers rush to catch up with the US on AI and accelerate its take-up across the continent. Anthropic has worked with Hg's portfolio companies since 2024, but this is the first standalone European consultancy it has backed.
What's the endgame? Anthropic is seeking new revenues to justify heavy spending on data-centre infrastructure and to rally support for a planned IPO amid concerns about AI valuations. The start-up's revenue growth slowed in the third quarter, the FT reported last week.
What came before: Anthropic, Blackstone, and Hellman & FriedmanDealroom has a profile for this one. Try Dealroom → launched a similar US service company, OdeDealroom has a profile for this one. Try Dealroom →, with $1.5bn in planned investment earlier this year; Goldman SachsDealroom has a profile for this one. Try Dealroom → and Apollo GlobalDealroom has a profile for this one. Try Dealroom → also invested. Rival OpenAI launched its own joint venture in May with TPG, AdventDealroom has a profile for this one. Try Dealroom →, Bain CapitalDealroom has a profile for this one. Try Dealroom →, and BrookfieldDealroom has a profile for this one. Try Dealroom → — the OpenAI Deployment CompanyDealroom has a profile for this one. Try Dealroom →.
What could go wrong? The move puts Anthropic in competition with the consultancies it also courts as implementation partners, including Accenture, DeloitteDealroom has a profile for this one. Try Dealroom →, EY, KPMGDealroom has a profile for this one. Try Dealroom →, and PwC. Hg already has 150 AI experts deploying the technology in its portfolio companies; the new business will not replace them, one person said.
The signal: AI developers are increasingly building their own deployment arms, threatening the lucrative technology-advisory businesses of traditional IT consultancies. The venture also tests whether private equity firms can turn the software companies they have acquired into AI businesses — a question that has rattled, then calmed, software valuations this year.
Read more: Financial Times
Image credit: RyanDonegan
