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  "markdown": "Venture firm.\n\nWebsite: https://dst.global\n\n## Companies on Anchor Terminal\n\n- **Airwallex**, Series E, September 2021, Series F, May 2025\n  - [Airwallex Spend and Issuing](https://www.anchorterminal.com/tools/airwallex.md), graded B, 68.3/100\n  - Source: https://www.airwallex.com/global/newsroom/airwallex-raised-usd200-million-series-e-funding-round-led-by-lone-pine\n- **Anthropic**, Series H, May 2026\n  - [Claude API](https://www.anchorterminal.com/tools/anthropic-api.md), graded BB, 77.3/100\n  - [Claude Agent SDK](https://www.anchorterminal.com/tools/claude-agent-sdk.md), graded BB, 70.1/100\n  - [Claude Code](https://www.anchorterminal.com/tools/claude-code.md), graded C, 59.9/100\n  - Source: https://www.anthropic.com/news/series-h\n- **Brex LLC**, Series C, October 2018, Investment, June 2019, Series D, April 2021, led a round\n  - [Brex](https://www.anchorterminal.com/tools/brex.md), graded C, 60.7/100\n  - Source: https://www.brex.com/journal/press/series-c\n- **Anthropic, PBC**, Series H, May 2026\n  - [Claude Duet](https://www.anchorterminal.com/tools/claude-duet.md), graded F, 17.9/100\n  - Source: https://www.anthropic.com/news/series-h\n- **Clay Labs Inc.**, Series D, 2026, through DST\n  - [Clay](https://www.anchorterminal.com/tools/clay.md), graded C, 57.7/100\n  - Source: https://www.clay.com/blog/series-d\n- **Anysphere, Inc. (Cursor), a SpaceX subsidiary**, Series C, June 2025, through DST\n  - [Cursor Agent SDK](https://www.anchorterminal.com/tools/cursor-agent-sdk.md), graded B, 63.6/100\n  - Source: https://cursor.com/blog/series-c\n- **Anysphere, Inc. / Cursor (acquired by SpaceX per engineer biography)**, Series C, June 2025, through DST\n  - [Cursor CLI](https://www.anchorterminal.com/tools/cursor-cli.md), graded F, 35.4/100\n  - Source: https://cursor.com/blog/series-c\n- **Cognition AI, Inc.**, Series E, September 2026, through DST\n  - [Devin](https://www.anchorterminal.com/tools/devin.md), graded C, 55.7/100\n  - Source: https://cognition.com/blog/series-e\n- **Glean Technologies, Inc.**, Series E, September 2024, Series F, June 2025, led a round\n  - [Glean](https://www.anchorterminal.com/tools/glean.md), graded B, 69.9/100\n  - Source: https://www.glean.com/press/glean-announces-over-260-million-series-e-and-next-generation-prompting-as-it-brings-work-ai-to-the-enterprise\n- **Mistral AI**, Series C, September 2025\n  - [Mistral AI API](https://www.anchorterminal.com/tools/mistral-api.md), graded BB, 71.2/100\n  - [Mistral Embed and Codestral Embed](https://www.anchorterminal.com/tools/mistral-embeddings.md), graded C, 58/100\n  - [Mistral Moderation API](https://www.anchorterminal.com/tools/mistral-moderation.md), graded C, 58.4/100\n  - [Mistral OCR API](https://www.anchorterminal.com/tools/mistral-ocr.md), graded C, 58.8/100\n  - [Mistral Vibe CLI](https://www.anchorterminal.com/tools/mistral-vibe-cli.md), graded B, 63/100\n  - [Mistral Voxtral Transcribe](https://www.anchorterminal.com/tools/mistral-voxtral-transcribe.md), graded B, 64.2/100\n  - [Voxtral Mini 4B Realtime 2602](https://www.anchorterminal.com/tools/voxtral-mini-4b-realtime-2602.md), graded C, 60.3/100\n  - Source: https://mistral.ai/news/mistral-ai-raises-1-7-b-to-accelerate-technological-progress-with-ai/\n- **Pennylane SAS**, Series D, April 2025\n  - [Pennylane](https://www.anchorterminal.com/tools/pennylane.md), graded B, 66.3/100\n  - Source: https://www.pennylane.com/fr/blog/pennylane-news/annonce-levee-facturation-electronique\n- **Reflection**, through DST\n  - [Beam 1.0](https://www.anchorterminal.com/tools/reflection-beam.md), graded D, 53.4/100\n  - [Mirror CLI](https://www.anchorterminal.com/tools/reflection-mirror.md), graded C, 54.3/100\n  - Source: https://reflection.ai/blog/building-frontier-open-intelligencence\n\n## Where they invest\n\n- Agent harnesses, 5\n- Model APIs \u0026 inference, 3\n- Spend management \u0026 procurement, 2\n- Agent frameworks \u0026 SDKs, 2\n- Speech-to-text, 2\n- Personal assistants, 1\n- Lead \u0026 company data, 1\n- Company knowledge \u0026 data catalogues, 1\n- Embeddings \u0026 rerankers, 1\n- Guardrails \u0026 safety filters, 1\n- Document parsing \u0026 extraction, 1\n- Accounting \u0026 invoicing, 1\n\n## Founders they backed\n\n- [Jack Zhang](https://www.anchorterminal.com/people/jack-zhang/), Airwallex\n- [Lucy Yueting Liu](https://www.anchorterminal.com/people/lucy-yueting-liu/), Airwallex\n- [Jacob Dai](https://www.anchorterminal.com/people/jacob-dai/), Airwallex\n- [Max L.](https://www.anchorterminal.com/people/max-l/), Airwallex\n- [Ki Lok Wong](https://www.anchorterminal.com/people/ki-lok-wong/), Airwallex\n- [Dario Amodei](https://www.anchorterminal.com/people/dario-amodei/), Anthropic\n- [Daniela Amodei](https://www.anchorterminal.com/people/daniela-amodei/), Anthropic\n- [Tom Brown](https://www.anchorterminal.com/people/tom-brown/), Anthropic\n- [Jack Clark](https://www.anchorterminal.com/people/jack-clark/), Anthropic\n- [Jared Kaplan](https://www.anchorterminal.com/people/jared-kaplan/), Anthropic\n- [Sam McCandlish](https://www.anchorterminal.com/people/sam-mccandlish/), Anthropic\n- [Chris Olah](https://www.anchorterminal.com/people/chris-olah/), Anthropic\n- [Henrique Dubugras](https://www.anchorterminal.com/people/henrique-dubugras/), Brex LLC\n- [Pedro Franceschi](https://www.anchorterminal.com/people/pedro-franceschi/), Brex LLC\n- [Karan Ahuja](https://www.anchorterminal.com/people/karan-ahuja/), Anthropic, PBC\n- [Michael Truell](https://www.anchorterminal.com/people/michael-truell/), Anysphere, Inc. (Cursor), a SpaceX subsidiary\n- [Sualeh Asif](https://www.anchorterminal.com/people/sualeh-asif/), Anysphere, Inc. (Cursor), a SpaceX subsidiary\n- [Aman Sanger](https://www.anchorterminal.com/people/aman-sanger/), Anysphere, Inc. (Cursor), a SpaceX subsidiary\n- [Arvid Lunnemark](https://www.anchorterminal.com/people/arvid-lunnemark/), Anysphere, Inc. (Cursor), a SpaceX subsidiary\n- [Scott Wu](https://www.anchorterminal.com/people/scott-wu/), Cognition AI, Inc.\n- [Steven Hao](https://www.anchorterminal.com/people/steven-hao/), Cognition AI, Inc.\n- [Walden Yan](https://www.anchorterminal.com/people/walden-yan/), Cognition AI, Inc.\n- [Arvind Jain](https://www.anchorterminal.com/people/arvind-jain/), Glean Technologies, Inc.\n- [T.R. Vishwanath](https://www.anchorterminal.com/people/t-r-vishwanath/), Glean Technologies, Inc.\n- [Tony Gentilcore](https://www.anchorterminal.com/people/tony-gentilcore/), Glean Technologies, Inc.\n- [Arthur Mensch](https://www.anchorterminal.com/people/arthur-mensch/), Mistral AI\n- [Guillaume Lample](https://www.anchorterminal.com/people/guillaume-lample/), Mistral AI\n- [Timothee Lacroix](https://www.anchorterminal.com/people/timothee-lacroix/), Mistral AI\n\n## Questions\n\n### Which AI tools has DST Global invested in?\n\nAnchor Terminal lists Airwallex, Anthropic, Brex LLC, Anthropic, PBC, Clay Labs Inc., Anysphere, Inc. (Cursor), a SpaceX subsidiary, Anysphere, Inc. / Cursor (acquired by SpaceX per engineer biography), Cognition AI, Inc., Glean Technologies, Inc., Mistral AI, Pennylane SAS and Reflection backed by DST Global.\n\n### How are DST Global's companies graded?\n\nOn Anchor Terminal's benchmark, Airwallex Spend and Issuing (B, 68.3), Claude API (BB, 77.3), Claude Agent SDK (BB, 70.1), Claude Code (C, 59.9), Brex (C, 60.7), Claude Duet (F, 17.9), Clay (C, 57.7), Cursor Agent SDK (B, 63.6), Cursor CLI (F, 35.4), Devin (C, 55.7), Glean (B, 69.9), Mistral AI API (BB, 71.2), Mistral Embed and Codestral Embed (C, 58), Mistral Moderation API (C, 58.4), Mistral OCR API (C, 58.8), Mistral Vibe CLI (B, 63), Mistral Voxtral Transcribe (B, 64.2), Voxtral Mini 4B Realtime 2602 (C, 60.3), Pennylane (B, 66.3), Beam 1.0 (D, 53.4) and Mirror CLI (C, 54.3).\n\nInvestors are named from the companies' own announcements, the investors' own pages, Y Combinator's company pages, public filings and news reports of a round, each with its source. An investor isn't a sign of quality, and nobody can pay to be listed or to change a grade. To correct something or have a page removed, write to privacy@anchorterminal.com.\n",
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