Disruptive, a Dallas-based venture firm, is raising up to $10 billion for a new fund, positioning itself among Silicon Valley’s elite megafund managers. The firm has secured $7.5 billion in commitments so far and plans to invest in roughly 10 late-stage companies over the next two years. Founded in 2012 by Alex Davis, Disruptive gained prominence after Nvidia’s $20 billion licensing deal with chip startup Groq, one of its portfolio companies. The firm also backed Reflection AI, Databricks, Shield AI, and Eleven Labs. Traditionally, Disruptive used special-purpose vehicles to pool investor capital deal-by-deal, but this approach is falling out of favor as top startups like Anthropic, Anduril, and Open AI restrict secondary transactions involving SPVs. The shift reflects broader industry trends toward larger, more structured funds. Disruptive’s move signals growing confidence in AI and late-stage venture opportunities.
Thrives Capital and Andreessen Horowitz have also raised over $10 billion this year, underscoring a surge in mega-fund activity. Disruptive’s transition from SPVs to a traditional fund structure aligns with market demands for stability and scale in venture investing.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing