--- title: Pile-ins, payouts, and pacing pressure: the investors... description: Limited partners say nearly everyone has piled into OpenAI and Anthropic, often inside the same venture firm, despite the usual rule against conflicting bets.... canonical: https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Pile-ins, payouts, and pacing pressure: the investors behind the VCs open up | daily.dev og:description: Limited partners say nearly everyone has piled into OpenAI and Anthropic, often inside the same venture firm, despite the usual rule against conflicting bets.... og:url: https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il og:image: https://api.daily.dev/og/posts/WdmSeZ5IL.png og:image:alt: Pile-ins, payouts, and pacing pressure: the investors behind the VCs open up og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Pile-ins, payouts, and pacing pressure: the investors behind the VCs open up **[TechCrunch](https://daily.dev/sources/tc)** · 13 min read · 0 upvotes · 0 comments ## Summary Limited partners say nearly everyone has piled into OpenAI and Anthropic, often inside the same venture firm, despite the usual rule against conflicting bets. Beezer Clarkson of LGT Capital Partners and Amit Bhatti of TrueBridge describe it as a 'yellow light' situation. Fund deployment pacing has sped up, with Bhatti saying 12 to 18 months is not crazy for some funds versus 24 to 36 months normally, and seed round sizes have gone up almost 2x. Bhatti says a lot of companies go from zero to $100 million in revenue, which was unheard of before, unlike the zero-revenue crypto bets of the last boom. Bhatti calls secondaries the third leg of liquidity alongside IPOs and M&A, with a $60 billion M&A exit tied to Cursor and a big Cerebras exit this year. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### why are venture capital funds investing so fast in OpenAI and Anthropic right now Venture funds have compressed their deployment cycles from a historical norm of 24 to 36 months down to as little as 12 to 18 months, largely because massive rounds from companies like Anthropic consume outsized chunks of a fund quickly. Seed round sizes have also roughly doubled, pushing lead investors to write twice the check size they once did. _Anyone weighing how fast-moving AI funding rounds affect their own startup's valuation can follow analysis like this on daily.dev._ ### is it normal for VC funds to have overlapping investments in the same startups Concentration into a handful of winning names is considered typical as venture funds mature, since venture follows a power law where a few breakout companies drive most returns. Prior fund generations consolidated heavily into companies like Databricks, SpaceX, and Stripe; the current generation is doing the same with Anthropic and OpenAI, though the speed of this concentration is unusually fast. _Founders and investors tracking how VC portfolio concentration shapes funding dynamics can follow this on daily.dev._ ### how big was the Cursor acquisition or exit A $60 billion M&A exit tied to Cursor is cited as one of the headline liquidity events in a venture market that has also seen Cerebras complete a big exit and several other IPOs. Liquidity for venture investors is now described as coming through three channels: IPOs, M&A, and a maturing secondaries market. _Developers curious about how AI coding tool valuations like Cursor's translate into real exits can track this on daily.dev._ ## Similar posts on daily.dev - [Lightspeed is selling its OpenAI stake to a fund it will also run](https://daily.dev/posts/lightspeed-is-selling-its-openai-stake-to-a-fund-it-will-also-run-fve91p5zw) · The Next Web · 0 upvotes · 0 comments - [With AI, investor loyalty is \(almost\) dead: at least a dozen OpenAI VCs now also back Anthropic](https://daily.dev/posts/with-ai-investor-loyalty-is-almost-dead-at-least-a-dozen-openai-vcs-now-also-back-anthropic-4qnkinnll) · TechCrunch · 1 upvotes · 0 comments - [How to invest when everything is moving too fast](https://daily.dev/posts/how-to-invest-when-everything-is-moving-too-fast-gkt6zpu0k) · TechCrunch · 0 upvotes · 0 comments - [What Anthropic and OpenAI launched in 72 hours has Wall Street paying attention](https://daily.dev/posts/what-anthropic-and-openai-launched-in-72-hours-has-wall-street-paying-attention-1vp3i02cu) · The New Stack · 3 upvotes · 0 comments - [Founders Fund raises $6B after burning through $4.6B in under a year on Anthropic, Anduril, and OpenAI](https://daily.dev/posts/founders-fund-raises-6b-after-burning-through-4-6b-in-under-a-year-on-anthropic-anduril-and-open-w6tx1tlrv) · The Next Web · 5 upvotes · 0 comments --- Tags: [#startup](https://daily.dev/tags/startup), [#venture-capital](https://daily.dev/tags/venture-capital), [#openai](https://daily.dev/tags/openai), [#anthropic](https://daily.dev/tags/anthropic) [View this post on daily.dev](https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Pile-ins, payouts, and pacing pressure: the investors behind the VCs open up","url":"https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il"},"datePublished":"2026-10-31T04:20:32.319Z","dateModified":"2026-10-31T05:22:51.181Z","description":"Limited partners say nearly everyone has piled into OpenAI and Anthropic, often inside the same venture firm, despite the usual rule against conflicting bets....","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/df607b950095996ade05762697d9ce0c?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/df607b950095996ade05762697d9ce0c?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"TechCrunch","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"TechCrunch","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tc","url":"https://daily.dev/sources/tc"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"startup,venture-capital,openai,anthropic","timeRequired":"PT13M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"TechCrunch","item":"https://daily.dev/sources/tc"},{"@type":"ListItem","position":3,"name":"Pile-ins, payouts, and pacing pressure: the investors behind the VCs open up"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/pile-ins-payouts-and-pacing-pressure-the-investors-behind-the-vcs-open-up-wdmsez5il#faq","mainEntity":[{"@type":"Question","name":"why are venture capital funds investing so fast in OpenAI and Anthropic right now","acceptedAnswer":{"@type":"Answer","text":"Venture funds have compressed their deployment cycles from a historical norm of 24 to 36 months down to as little as 12 to 18 months, largely because massive rounds from companies like Anthropic consume outsized chunks of a fund quickly. 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