Disruptive, a Dallas-based investment firm that has previously invested in companies including Palantir, Airbnb and Spotify, announced Tuesday that it is announcing a $10 billion fund with checks of up to $1 billion to back at least 10 late-stage companies.
This is one of the largest funding rounds so far this year, aimed at supporting the capital-intensive fields of AI and defense (what else?!). The Wall Street Journal first reported earlier this month that the company was seeking to raise capital and had already secured at least $7.5 billion in capital commitments by then.
The company was founded in 2012 by Alex Davis, grandson of billionaire oil tycoon Marvin Davis.
This is technically the company’s first blind pool fund, meaning investors put in money without knowing which companies they will back. The company has previously raised capital through deal-by-deal special purpose vehicles. Nevertheless, Disruptive has made headlines in recent years for pouring money into companies like chip startup Groq and AI voice generation startup Eleven Labs. Bloomberg reported that the company told LPs that it had returned more than $6 billion of the roughly $1.9 billion it invested in startups.
The new vehicle will be the largest venture financing in Texas history, according to the Dallas Business Journal.
