A venture created to promote broader use of generative artificial intelligence among midsize firms has completed its first acquisition, purchasing San Francisco-based Fractional AI, people familiar with the matter said on Thursday. The new services company - currently unnamed - is backed by Anthropic PBC and Hellman & Friedman, with Blackstone Inc. also among the supporters.
According to those familiar with the situation, the venture was established to encourage midsize companies to deploy Anthropic's Claude models in operational settings. Fractional AI will become the venture's operational centerpiece, integrating into the services platform the backers are building.
Investors in the venture extend beyond the founding partners. Apollo Global Management Inc, General Atlantic, Leonard Green & Partners, GIC and Sequoia Capital are also reported to be investors in the new firm, according to the same sources.
"Fractional aims to close the multitrillion-dollar gap between where businesses operate today and where they can be, leveraging Anthropic's leading models, and starting with portfolio companies of the world's best alternative asset managers," Chris Taylor, chief executive officer, and Eddie Siegel, chief technology officer at Fractional AI, said in a joint statement with Anthropic, Blackstone and Hellman & Friedman on Thursday.
The acquisition ends Fractional AI's existing, 11-month partnership with OpenAI, people familiar with the terms of the transaction said. Financial terms of the deal were not disclosed by the parties.
While the venture will prioritize rolling out services to portfolio companies of private asset managers, its stated plans extend past that initial cohort. The emerging services firm intends to provide tools and technology to a broader set of midsize companies, according to those with knowledge of the plan.
This transaction represents the venture's first acquisition since its formation, signaling an early push to assemble operational capability around Anthropic's generative AI offerings. Further details - including the venture's final name, integration timeline for Fractional AI, and commercial terms with clients - were not disclosed in the reporting on the deal.
Note: This report is strictly factual and reflects information provided by people familiar with the matter; no financial terms or additional details were released.