SpaceX Backer 137 Ventures Raises Over $700M for AI and Defense Growth Funds Ahead of Mega IPO

137 Ventures, a key early investor in SpaceX, has closed more than $700 million across two new growth-stage funds targeting high-impact startups.

The firm, founded by former Founders Fund partner Justin Fishner-Wolfson, announced the raise as it surpasses $1.5 billion in assets under management.

Targeting Scale-Up Innovators

Growth-stage funds like these focus on companies past early validation but needing capital to expand operations and capture markets.

This approach differs from seed investing by betting on proven teams in demanding sectors such as AI and defense.

Portfolio Powerhouses

Standout investments include Anduril for defense tech, Hadrian Automation for AI manufacturing, and Cognition for AI agents.

SpaceX remains a cornerstone, with 137 Ventures investing since 2010 through about two dozen rounds.

Hard Tech Momentum

In the past year alone, the firm deployed over $1 billion into defense, AI, and industrial systems amid rising geopolitical tensions.

This capital influx underscores investor confidence in U.S. leadership in strategic technologies despite volatile markets.

A non-obvious angle: the timing aligns with SpaceX's anticipated trillion-dollar IPO, providing liquidity for reinvestment into next-gen hard tech.

For everyday people, this means accelerated job creation in advanced manufacturing and potential breakthroughs in affordable space access.

Looking ahead, such funds signal a maturing VC ecosystem prioritizing national security and industrial revival over consumer apps.