SpaceX backer 137 Ventures secures $700M for two growth funds
▼ Summary
– VC firm 137 Ventures raised over $700 million across two new growth-stage funds for startups with significant market impact.
– The firm deployed over $1 billion in the past year into defense, AI, and industrial systems companies.
– Its portfolio includes Cognition, Hadrian Automation, and Anduril.
– 137 Ventures is an investor in Elon Musk’s SpaceX, which is expected to have a historic IPO this year valuing the company at over a trillion dollars.
– Bloomberg reported that 137 Ventures first backed SpaceX in 2010 and has since invested in the company around two dozen times.
Venture capital firm 137 Ventures has closed on over $700 million across two new growth-stage funds, the firm announced Thursday, targeting startups that show “potential for significant market impact.”
Founded by Justin Fishner-Wolfson, a former partner at Founders Fund, 137 Ventures has deployed more than $1 billion over the past year into companies operating in defense, artificial intelligence, and industrial systems. Its portfolio includes Cognition, an AI agent developer; Hadrian Automation, an AI-powered manufacturing startup; and Anduril, a defense technology company.
The firm is also a notable backer of SpaceX, Elon Musk’s rocket company, which is anticipated to launch a historic IPO this year with a potential valuation exceeding $1 trillion. According to Bloomberg, 137 Ventures first invested in SpaceX in 2010 and has since provided roughly two dozen additional funding rounds.
(Source: TechCrunch)
