Disruptive, a venture capital firm that invests in AI and tech companies, is raising up to $10 billion for a new fund, The Wall Street Journal reported Wednesday.
The firm has already secured $7.5 billion in commitments so far, according to the report, which cited people familiar with the matter. Disruptive plans to invest the money in around 10 late-stage companies over the next two years.
If completed, the raise would place Disruptive among a small group of venture firms managing funds worth several billion dollars. Investment firms including Andreessen Horowitz and Thrive Capital have also raised more than $10 billion for new funds this year.
Founded in 2012 by Alex Davis, grandson of late oil and media billionaire Marvin Davis, Disruptive is based in Dallas and also has operations in New York and the Middle East.
The firm has invested in several AI firms, including AI chip and cloud company Groq, open-source model developer Reflection AI, data and AI company Databricks, defense technology company Shield AI, and voice AI startup ElevenLabs.
Disruptive has until recently invested mainly through special-purpose vehicles, or SPVs, according to the WSJ report. An SPV collects money from investors for one specific company or transaction.
The move comes as some major private companies have tried to place more control over who can own their shares. Anthropic, Anduril, and OpenAI have sought to restrict some secondary-market transactions, which often involve SPVs, the WSJ reported.