The Dallas firm behind bets on Groq and ElevenLabs plans checks of up to $1 billion in about 10 late-stage companies.
Disruptive, the Dallas investment firm known for backing Groq, Palantir, and Airbnb, said Tuesday it has raised $10 billion for its first flagship fund. The fund will write checks of up to $1 billion per company.
The Disruptive Flagship Fund will invest in about 10 growth and late-stage companies, putting roughly $1 billion behind each on average. The firm said it will focus on artificial intelligence, AI infrastructure, defense technology, enterprise software, and other technology sectors.
Today, we announced the Disruptive Flagship Fund, a $10 billion fund designed to scale the firm’s selective approach to backing category-leading private technology companies. Advances in artificial intelligence, the massive buildout of compute infrastructure, and a new era of investment in defense and national security are creating companies of unprecedented scale and strategic importance. The amount of capital required to capture these opportunities is increasing significantly. Disruptive was built for this moment. Since its founding in 2012, the firm has developed an investment model designed to identify a small number of exceptional companies and deploy significant capital behind them. Disruptive’s investment approach remains unchanged and the firm plans to back approximately 10 exceptional growth and late-stage companies, investing up to $1 billion per company. Alex Davis, Founder and CEO of Disruptive commented: “The best private technology companies are growing larger, staying private longer and requiring more capital than ever before. We have always focused on a small number of exceptional companies, building the conviction and relationships to be there for founders at their most important moments. The Disruptive Flagship Fund gives us the scale to match the opportunity.” Press release: https://t.co/nzmn3geCSF Bloomberg: https://t.co/1r6ln1qgf6 Forbes: https://t.co/rG59kDWFrI
— Disruptive (@disruptivetech) October 27, 2026
The fund is the firm's first blind pool, meaning its investors committed capital without knowing which companies it will back, TechCrunch reported. Since its founding in 2012, Disruptive has raised money deal by deal through special purpose vehicles, or SPVs.
The Wall Street Journal reported earlier this month that the firm had secured at least $7.5 billion in commitments. Tuesday's announcement put the total at $10 billion.
Alex Davis, Disruptive's founder and CEO, said the best private technology companies are "growing larger, staying private longer" and need more capital than before. He said the new fund gives the firm the scale to match that opportunity while keeping its focus on a small number of companies.
The firm said it will make primary, secondary, and structured investments. It pointed to AI, the buildout of compute infrastructure, and defense and national security spending as reasons companies now need more capital.
Portfolio and track record
Disruptive listed Airbnb, Databricks, ElevenLabs, Helsing, Groq, Palantir, Reflection AI, Spotify and Shield AI among its investments. The firm said the list does not represent all of its holdings.
Davis, the grandson of billionaire oil magnate Marvin Davis, founded the firm in 2012. Its legal name is Disruptive Technology Advisers LLC.
What was not disclosed
Disruptive did not name the fund's limited partners, its fee terms, or the companies it plans to back. The release described the fund's portfolio as about 10 companies.
This is considered the largest venture fund raised in Texas history, according to the Dallas Business Journal.
