Massive New Fund Targets AI and Defense
The Dallas-based investment firm Disruptive, whose past bets include Palantir, Airbnb, and Spotify, announced a $10 billion fund to back at least 10 late-stage companies, with checks of up to $1 billion.
It ranks as one of the largest fundraises of the year, aiming to support the capital-intensive fields of artificial intelligence and defense. Reports earlier indicated that the firm was seeking to raise the capital and had already secured at least $7.5 billion in commitments.
The firm was founded in 2012 by Alex Davis.
Shift to Blind-Pool Strategy
This marks the firm’s first blind-pool fund, meaning investors commit capital without knowing the exact target companies in advance. Previously, the firm raised funds through deal-by-deal special purpose vehicles. Disruptive has previously invested in chip startup Groq and AI voice-generation startup ElevenLabs, and reports indicate it has returned more than $6 billion on approximately $1.9 billion invested in startups.
The new vehicle stands as the largest venture fund raised in Texas history.
