Key facts
- Disruptive closed a $10 billion fund for AI, defense, and software startups.
- The fund will back approximately 10 late-stage companies with $1 billion each.
- The firm has returned over $6 billion on about $1.9 billion invested.
- Disruptive's portfolio includes Groq, ElevenLabs, Databricks, and Shield AI.
Disruptive, a Dallas-based venture capital firm, has closed a $10 billion fund to invest in AI, defense, and software startups, approximately doubling its assets under management. The firm plans to deploy about $1 billion into each of roughly 10 late-stage companies, primarily through new funding rounds. This new fund marks a shift from its previous model of raising capital deal-by-deal through special purpose vehicles (SPVs) to a single discretionary pool. Founder Alex Davis cited the need for larger checks as companies remain private for longer and noted that the SPV model often obscured investor identities, which top companies now prefer to avoid. Investor documents reviewed by Bloomberg indicate that Disruptive has generated over $6 billion in returns from approximately $1.9 billion invested across its prior portfolio companies, which include Groq, ElevenLabs, Databricks, and Shield AI.