OpenAI, Anthropic Ban Unauthorized SPV Equity Transfers in Pre-IPO Clampdown

According to Caijing, OpenAI and Anthropic recently announced policies declaring all unauthorized SPV equity transfers legally void and invalid from inception. The clampdown follows heated competition over stakes in AI unicorn DeepSeek's billion-dollar funding round, where secondary SPV channels emerged to enable lesser-known limited partners to gain indirect access by purchasing securitized shares through nested holdings.

Buyers face severe compliance risks under the new policies. Since unauthorized transfers are deemed legally non-existent, investors who paid for shares cannot secure any shareholder rights, leaving domestic participants attempting to enter via proxies particularly vulnerable to losing confirmation of ownership.