Disruptive raises $10B fund to make big bets on at least 10 companies — SkimNews
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- Disruptive announced a $10 billion fund to back at least 10 late-stage companies, with checks of up to $1 billion, describing it as one of the biggest fundraises of the year so far and targeting capital-intensive AI and defense.
- The Wall Street Journal reported earlier this month that Disruptive was seeking the fund and had secured at least $7.5 billion in capital commitments.
- Disruptive structured the vehicle as its first blind pool, meaning investors commit without knowing which companies it will back; until now, it had raised money through deal-by-deal special-purpose vehicles.
- Disruptive has backed Palantir, Airbnb and Spotify, and in recent years poured money into chip startup Groq and AI voice-generation startup ElevenLabs.
- Bloomberg reported that Disruptive told LPs it had returned more than $6 billion on the roughly $1.9 billion it had put into startups.
- Dallas Business Journal called the new vehicle the largest venture fund raised in Texas history.
Why it matters: Disruptive had secured at least $7.5 billion in capital commitments before announcing the $10 billion fund, giving the firm a base of committed capital. The structural change is that its LPs will commit without knowing which companies receive checks of up to $1 billion, a departure from the firm’s prior deal-by-deal special-purpose vehicles.
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