The Dallas-based investment firm Disruptive, which has previously invested in Palantir, Airbnb, and Spotify, announced on Tuesday that it is launching a $10 billion fund to support at least ten late-stage companies, with investment checks potentially reaching as high as $1 billion.
This represents one of the most significant fundraising efforts of the year, specifically targeting capital-intensive sectors such as artificial intelligence and defense. The Wall Street Journal reported earlier this month that the firm was actively seeking capital for this initiative, having already secured commitments totaling at least $7.5 billion.
The firm was established in 2012 by Alex Davis, the grandson of billionaire oil magnate Marvin Davis.
This initiative marks the company's first blind-pool fund, a structure where investors provide capital without prior knowledge of the specific startups selected for investment. Previously, Disruptive utilized deal-by-deal special purpose vehicles. Despite this structural shift, the firm has garnered attention in recent years for significant investments in entities like chip startup Groq and the AI voice-generation startup ElevenLabs. Bloomberg noted that the firm informed limited partners that it has generated returns exceeding $6 billion on the approximately $1.9 billion it has deployed into startups.
According to the Dallas Business Journal, this new fundraising vehicle stands as the largest venture capital raise in the history of Texas.
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