Cursor deal closes, described as largest venture-backed private-company acquisition

The Cursor transaction has closed, Michael Truel announced, following several earlier announcements that the deal was forthcoming.

The transaction was described as the largest acquisition of a venture-backed private company and potentially one of the highest-IRR VC investments ever. The comparison cited a previous record: Google’s $32 billion acquisition of Wiz. OpenAI’s Startup Fund was believed to have been a seed investor in Cursor; any resulting link between OpenAI shareholders and SpaceX was presented as an inference from the presumed deal structure, not a separately confirmed fact.