The Dallas investment firm Disruptive has announced a $10 billion fund to back at least ten late-stage companies, with individual investments of up to $1 billion, TechCrunch reports.
The fund, one of the largest raised this year, is aimed mainly at artificial intelligence and defence, both sectors that need large amounts of capital. The Wall Street Journal reported earlier this month that the firm had already secured at least $7.5 billion in commitments.
Founded in 2012 by Alex Davis, Disruptive has previously backed Palantir, Airbnb and Spotify, and more recently the chip start-up Groq and the AI voice company ElevenLabs. It is the firm's first blind-pool fund, where investors commit money before knowing which companies will be backed; until now it raised money deal by deal. According to the Dallas Business Journal, it is the largest venture fund ever raised in Texas.
Source: TechCrunch
