The two firms began working together in early 2024, making Hg among the first private equity firms globally to engage directly with a frontier AI lab. The relationship has since produced over 1,600 live AI projects across the portfolio with $260m of budgeted EBITDA impact, a figure the firm says has grown fivefold since the partnership began.
Hg Catalyst, the firm's dedicated AI product incubator, will now work more closely with Anthropic on embedding agentic AI in portfolio companies' core products. Hg's portfolio companies typically own the system of record in their respective sectors; Anthropic provides the intelligence layer on top. Portfolio company Quantios, a SaaS provider to the trust and corporate services industry, shipped its first agentic AI solution with Catalyst support in March 2026, ahead of its exit to Vista Equity Partners. Hg also points to GTreasury (acquired by Ripple) and Intelerad (acquired by GE HealthCare) as examples where embedded AI strategies strengthened buyer interest at exit.
"Hg backed the shift toward agentic AI early, and the relationship we have built with Anthropic is central to that," said Steve Batchelor and JB Brian, Co-CEOs of Hg. "As AI reshapes how software businesses build and compete, we want our portfolio companies to have a direct line to the frontier and are excited to continue to deepen our relationship with Anthropic."
Guillaume Princen, Head of International at Anthropic, said: "Agentic AI is transforming how people scale software businesses. With Claude, Hg's portfolio gets frontier agentic AI, but also the highest safety standards so they can trust agents with critical workflows. We're excited to work with Hg to keep driving further transformation across both their own business, as well as the portfolio companies they work with."
Hg manages over $110bn in assets and employs more than 400 people. Its portfolio spans businesses worth over $195bn in aggregate enterprise value.
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