Venture capital firm 137 Ventures announced Thursday that it has raised more than $700 million in two new growth-stage funds to back startups with “potential for significant market impact.”
The company, founded by former Founders Fund investor Justin Fischner Wolfson, said it has invested more than $1 billion in the past year in companies building defense, AI and industrial systems. The company's portfolio includes AI agent company Cognition, AI-powered manufacturing company Hadrian Automation, and defense company Anduril.
The company is also, notably, an investor in Elon Musk's SpaceX, which is scheduled for a historic IPO this year that could value it above $1 trillion. Bloomberg reported that 137 Ventures first backed SpaceX in 2010 and has written about 20 checks to the company since then.