Dallas-based investment firm Disruptive closed a $10 billion fund targeting late-stage AI, defense, and software companies, with plans to write checks of up to $1 billion each into at least 10 companies1,2. The raise doubled Disruptive's assets under management3.
The fund marks a structural shift for the firm: Disruptive is pivoting from single-deal special purpose vehicles to a blind-pool discretionary fund, its first. Founded in 2012 by Alex Davis, grandson of billionaire oil magnate Marvin Davis, the firm's prior deal-by-deal investments include Palantir, Airbnb, and Spotify. More recently, Disruptive has backed chip startup Groq and AI voice-generation startup ElevenLabs.
Disruptive told its limited partners it has returned more than $6 billion on roughly $1.9 billion deployed into startups, according to Bloomberg. The Dallas Business Journal reported the vehicle is the largest venture fund raised in Texas history.