Disruptive raises $10B fund to make big bets on at least 10 companies

Disruptive, a Dallas-based investment firm founded by Alex Davis, has raised a $10 billion fund to back at least 10 late-stage companies in the fields of AI and defense, with checks of up to $1 billion. The fund, which is the firm's first blind-pool fund, has already secured at least $7.5 billion in capital commitments. Disruptive has a history of successful investments, including Palantir, Airbnb, and Spotify, and has returned more than $6 billion on the roughly $1.9 billion it has poured into startups. The new vehicle is the largest venture fund raised in Texas history.