Investment Firm Disruptive Launches $10 Billion Fund Focused on AI and Defense

Dallas-based investment firm Disruptive announced on Tuesday that it has created a $10 billion fund to support at least 10 late-stage companies operating in capital-intensive sectors such as artificial intelligence and defense.

Dallas-based investment firm Disruptive has announced its new $10 billion fund, which aims to finance at least 10 late-stage companies with checks of up to $1 billion each. Standing out as one of the largest fundraising moves of the year, this initiative focuses on capital-intensive areas such as artificial intelligence and defense. Having previously invested in companies like Palantir, Airbnb, Spotify, Groq, and ElevenLabs, the firm was founded in 2012 by Alex Davis, the grandson of billionaire oil tycoon Marvin Davis.

For Disruptive, which previously conducted its investments through deal-based special purpose vehicles, this fund marks its first blind-pool fund where investors commit capital without knowing the companies to be supported in advance. The Wall Street Journal reported at the beginning of the month that the fund was being sought and had secured at least $7.5 billion in capital commitments at that time. Meanwhile, Bloomberg reported that the firm has generated over $6 billion in returns to LPs against approximately $1.9 billion invested in startups, and the Dallas Business Journal noted that the new vehicle is the largest venture capital fund in Texas history.