Venture firm 137 Ventures announced a capital raise of $700 million, split between two new funds designed to back companies over extended timelines. The firm has a history of backing Elon Musk’s SpaceX, positioning it as a seasoned player in aerospace‑adjacent venture capital. Investors see the pool as a bet on long‑term tech bets tied to Musk’s enterprises.

Backers cite the firm’s prior successes with SpaceX‑related spin‑outs as evidence that significant patient capital can capture upside from long‑term high‑risk, high‑reward sectors. By extending fund lifespans, 137 Ventures aims to ride multiple product cycles, from launch services to satellite constellations, reducing pressure for quick exits. The raise also signals continued appetite for capital tied to Musk‑led ventures.

Market participants note that the infusion of $700 million could sharpen competition among venture groups courting aerospace innovators, potentially driving higher valuations for startups with ties to SpaceX’s ecosystem. While the funds remain private, their size suggests confidence in Musk’s growth trajectory despite broader market volatility. The capital now sits ready to back next generation firms. Investors will watch deployment closely over the coming year.