Disruptive raises $10 billion to invest in at least 10 companies — TechCrunch

Dallas-based investment firm Disruptive has announced a $10 billion fund to finance at least 10 late-stage companies. TechCrunch reports that individual investments could reach $1 billion.

Investments in AI and defense technology

The new fund is planned to be directed primarily toward capital-intensive sectors, including artificial intelligence and defense technology. Earlier this month, The Wall Street Journal reported that Disruptive was seeking funds for the fund and at that time already had at least $7.5 billion in commitments from investors.

Disruptive was founded in 2012 by Alex Davis, the grandson of oil billionaire Marvin Davis. The firm's previous investments include Palantir, Airbnb, and Spotify.

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First fund without a defined portfolio

This is Disruptive's first blind-pool fund, in which investors commit to provide funds without knowing in advance which companies will receive financing. Previously, the firm raised money through special structures for individual deals.

In recent years, Disruptive has invested, among others, in chip developer Groq and ElevenLabs, a company that develops AI-powered voice generation technology. Bloomberg wrote that Disruptive told its investors it had returned more than $6 billion on about $1.9 billion invested in startups. According to the Dallas Business Journal, the new fund is the largest venture fund raised in Texas.