What's Happening
- Dallas-based investment firm Disruptive announced a $10 billion fund to back late-stage companies, the firm said Tuesday.
- The firm plans to write checks of up to $1 billion for at least 10 startups in the artificial intelligence and defense sectors.
- The vehicle marks the largest venture fund raised in Texas history, the Dallas Business Journal reported.
Why It Matters
The $10 billion vehicle provides capital for hardware-heavy artificial intelligence and defense startups. Disruptive's shift from special purpose vehicles to a blind-pool fund gives the firm faster deployment capabilities in competitive funding rounds.
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