New details have emerged about Valor Equity Partners' Fund VII, which filed documents with the U.S. Securities and Exchange Commission last year to begin raising capital.
Bloomberg reported Wednesday that the fund is targeting at least $2.5 billion in capital, some of which has already been set aside for further investments in SpaceX. This may not be surprising given that the company and its founder Antonio Gracias are long-time supporters of Elon Musk. Valor Equity Partners owns about 4% of SpaceX, which recently debuted on the public market, according to Bloomberg.
It's not entirely clear what the fund's theory will be, but past investments may provide some hints. In addition to supporting a number of mask projects, Valor also cut influence on military technology maker Anduril and news-sharing site Reddit. As Bloomberg points out, Barrow's funds typically focus on helping companies scale, especially in their growth stages, but they also raise money to provide more early-stage support.
Valor previously announced that it would close Fund VI at $2.35 billion in 2024, primarily focused on investing in business growth.