Disruptive Closes $10B Fund to Back Late-Stage AI and Defense Companies
By James Dargan · · 1 min read
Dallas-based investment firm Disruptive has announced a $10 billion fund to back at least 10 late-stage companies, with individual checks of up to $1 billion. The fund will focus on the capital-intensive sectors of AI and defense, and ranks among the largest fundraises of the year. According to the Dallas Business Journal, it is the largest venture fund ever raised in Texas.
The Wall Street Journal first reported earlier this month that the firm was seeking the capital and had already secured at least $7.5 billion in commitments at that point.
Founded in 2012 by Alex Davis, grandson of billionaire oil magnate Marvin Davis, Disruptive has previously backed companies including Palantir, Airbnb and Spotify. More recently, it has drawn attention for large investments in AI chip startup Groq and AI voice-generation company ElevenLabs.
The new vehicle is technically the firm’s first blind-pool fund, meaning investors commit capital without knowing in advance which companies it will support. Until now, Disruptive raised money through deal-by-deal special purpose vehicles.
Bloomberg reported that the firm told its limited partners it has returned more than $6 billion on the roughly $1.9 billion it has invested in startups to date.
