Disruptive 募集100亿美元基金，押注至少10家AI与防务后期公司
Disruptive raises $10B fund to make big bets on at least 10 companies
- 1Disruptive 募集100亿美元基金，计划投至少10家后期公司，单笔最高10亿美元
- 2基金重点投向AI与防务领域，是该机构首支盲池基金，此前通过逐笔SPV募资
- 3Bloomberg 报道，机构告知LP已投入约19亿美元、返还超过60亿美元
- 4据 Dallas Business Journal，新基金是得州历史上规模最大的风投基金
这笔百亿美元基金把后期AI与防务公司的单笔支票上限抬到10亿美元级，也显示出资人愿意在项目未定前就整体押注该赛道。
- 影响：后期AI与防务创业公司拿到超大额支票的机会增多，重资本扩张有了新的钱源；盲池结构说明机构将提前锁定赛道，这批资金的最终落点会影响创业公司估值与竞争格局；防务与AI并列成为资本去向。
- 参考：正在后期融资的创业公司可把该基金纳入接触名单，先算出10亿美元级支票对股权稀释与业务方向约束的影响；关注AI或防务合作的企业也可跟踪这至少10个投资席位最终落点，提前准备合作或竞争方案。
- 依据：基金规模、单笔上限与投向为 Disruptive 官方口径；75亿美元已承诺出资出自 WSJ 报道，回报数据为 Bloomberg 转述机构对LP的说法，均暂无独立验证。
In Brief
Posted:
11:55 AM PDT · October 27, 2026
The Dallas-based investment firm Disruptive, whose past bets include Palantir, Airbnb, and Spotify, announced a $10 billion fund to back at least 10 late-stage companies, with checks of up to $1 billion, it said Tuesday.
It’s one of the biggest fundraises of the year so far, aiming to back (what else?!) the capital-intensive fields of AI and defense. The Wall Street Journal first reported earlier this month that the firm was seeking to raise the fund and by then had already secured at least $7.5 billion in capital commitments.
The firm was founded in 2012 by Alex Davis, grandson of billionaire oil magnate Marvin Davis.
This is technically the firm’s first blind-pool fund, meaning investors commit money without knowing which companies it will back. Until now, the firm raised money through deal-by-deal special purpose vehicles. Disruptive has nonetheless made headlines in recent years for pouring money into companies like chip startup Groq and the AI voice-generation startup ElevenLabs. Bloomberg reported that the firm told LPs it has returned more than $6 billion on the roughly $1.9 billion it has put into startups.
According to the Dallas Business Journal, the new vehicle is the largest venture fund raised in Texas history.
来源：TechCrunch · AI · techcrunch.com