Anthropic and Hg reportedly plan EU AI consultancy

What we know

On October 23, the Financial Times reported, citing people familiar with the matter (FT), that Anthropic is backing a new independent AI consultancy with London private equity firm Hg. Both companies declined to comment. TNW also summarized the report.

• The firm would embed AI engineers and consultants in businesses to help design AI-powered products or support projects already underway.
• Launch is expected by the end of 2026, with offices in London and Berlin.
• Main targets are B2B software companies and other white-collar industries. It would also work with Hg-owned businesses.
• Anthropic would fund its share from its balance sheet, Hg through its managed funds, including the London-listed HgCapital Trust.
• It would be Anthropic's first investment in a standalone consultancy in Europe. It has worked with Hg's portfolio companies since 2024.

Hg already employs around 150 AI specialists across its portfolio. One source told the FT the new consultancy would operate alongside that team rather than replace it.

Not the first move of its kind

In the US, Anthropic set up Ode earlier this year, a services company backed by Blackstone and Hellman & Friedman with $1.5 billion in planned investment. In May, OpenAI launched the OpenAI Deployment Company with TPG, Advent, Bain Capital and Brookfield.

Why it matters

Model makers are moving into direct competition with Accenture and the Big Four (Deloitte, EY, KPMG, PwC), for whom technology advisory is a major revenue line. For European companies, it means another implementation partner sitting close to the model vendor. Neither company has confirmed the plan yet.