To buy this Bay Area home, you’ll need Anthropic equity
A Mill Valley homeowner is offering to exchange his 13-acre property for equity in AI startup Anthropic. The seller says the unusual structure is a diversification play and would allow the buyer to retain some upside during the lockup period.
Someone is offering an unusual deal for a 13-acre property in Mill Valley, just north of South Francisco.
Homeowner and investment banker Storm Duncan has created a LinkedIn page for the home, which he said he would "like to exchange […] for Anthropic equity."
A Diversification Play
The San Francisco Standard reports that Duncan described the proposal as a "diversification play." He said he is "under-concentrated in AI investments relative to the importance of AI in the future, and over-concentrated in real estate," while a young Anthropic employee might be "in the exact opposite scenario."
Duncan is asking potential buyers to email him to discuss the specifics of the deal. He said it would be a private transaction that does not require the buyer to sell their stock outright.
On LinkedIn, Duncan added that the homebuyer would "continue to retain 20% of the upside value of the shares exchanged for the duration of the lockup period."
Property Background
Duncan, who described himself as a longtime Bay Area resident who moved to Miami during the pandemic, bought the property in 2019 for $4.75 million.
He said the home is currently occupied by "a high profile VC," but declined to identify the venture capitalist.