IN BRIEF: Hg and Anthropic partner to advance European AI adoption

HgCapital Trust PLC - London-based investment trust that provides access to private equity investments of manager Hg - Hg will invest in a new artificial intelligence transformation company with the participation of Anthropic PBC and angel investors. HgCapital Trust will participate through the HgSaturn Fund, but it doesn't provide financial details.

Under the agreement, Hg and its partners will create a new 'Service Co' that will launch later this year and work with European companies to advance AI adoption and develop AI-native products, HgCapital Trust says. The company will build on Anthropic's Claude AI system.

Hg Co-Chief Executives Steve Batchelor and JB Brian comment: "This builds on HgCapital Trust's early conviction in the transformational power of AI. We're delighted to announce our investment in this new company and look forward to further advancing Europe's position within the global AI ecosystem."

Current stock price: up 0.2% at 394.96 pence per share in London on Tuesday

12-month change: down 18%

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