Disruptive closes $10B fund for late-stage bets in AI and defense
The Dallas investment firm, known for early stakes in Palantir, Airbnb and Spotify, has secured its largest fund to date, deploying up to $1 billion per company across at least 10 portfolio additions.
Disruptive, a Dallas-based investment shop with a track record backing Palantir, Airbnb, and Spotify, has closed a $10 billion fund targeting at least 10 late-stage companies, with individual checks reaching as much as $1 billion each. The announcement came Tuesday and marks one of the year's largest capital raises, with the firm zeroing in on the capital-hungry sectors of artificial intelligence and defense technology.
The Wall Street Journal reported earlier this month that Disruptive was in the process of raising the vehicle and had already locked in $7.5 billion in commitments from limited partners at that time.
Founded in 2012 by Alex Davis, grandson of oil industry billionaire Marvin Davis, Disruptive has historically structured its investments through deal-specific special purpose vehicles. The new $10 billion vehicle represents a shift in strategy, functioning as the firm's inaugural blind-pool fund, where investors commit capital before the specific companies receiving backing are determined.
Despite this structural change, Disruptive has maintained a high profile in recent years through investments in chip manufacturer Groq and voice AI company ElevenLabs. Bloomberg reported that the firm communicated to its limited partners that it has generated more than $6 billion in returns from approximately $1.9 billion deployed into startups to date.
According to the Dallas Business Journal, this fund represents the largest venture capital vehicle ever raised in Texas.
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