# How Justin Ernest invested nearly $400M into hot startups without a traditional VC fund

> **Platform:** [SPIDITS AI](https://spidits.com/) — Real-Time AI News & Market Intelligence  
> **Published:** 2026-06-08T21:29:57.000Z  
> **Category:** PRODUCT_LAUNCH  
> **Impact Score:** 310/100  
> **Primary Source:** [TechCrunch AI](https://techcrunch.com/2026/06/08/following-anthropic-openai-files-confidentially-for-ipo)  
> **Canonical Citation:** [https://spidits.com/timeline/how-justin-ernest-invested-nearly-400m-into-hot-startups-without-a-traditional-vc-fund](https://spidits.com/timeline/how-justin-ernest-invested-nearly-400m-into-hot-startups-without-a-traditional-vc-fund)

## Executive Summary
Instead of spending a year raising a formal venture fund, the Sabertooth VC founder used a captive network of LPs to invest startups like Anthropic, Anduril...

## Why It Matters (Strategic Analysis)
OpenAI's confidential IPO filing signals a significant market event, with the company valued at $852 billion post-money, and projected to spend $85 billion in 2028 despite doubling sales. This move is part of a larger trend, with SpaceX and Anthropic also preparing for public market debuts. The combined valuations of these companies could exceed $3 trillion.

## Key Entities & Companies
- **OpenAI**
- **Anthropic**

## Referenced Coverage & Sources
- **[TechCrunch AI](https://techcrunch.com/2026/06/08/following-anthropic-openai-files-confidentially-for-ipo)**: OpenAI files confidentially for IPO, following Anthropic — _The filing comes a little more than a week after its main rival, Anthropic, also filed to go public, ramping up the race between the two AI firms._
- **[TechCrunch AI](https://techcrunch.com/2026/06/09/anthropics-claude-fable-5-is-a-version-of-mythos-the-public-can-access-today)**: Anthropic's Claude Fable 5 is a version of Mythos the public can access today — _Anthropic is releasing Claude Fable 5, its first Mythos-class model available to the public. The model comes with guardrails that block responses in high-risk..._

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*Synthesized by SPIDITS AI Market Intelligence Desk. Track live AI news, model releases, and funding: [https://spidits.com](https://spidits.com)*