SpaceX backer 137 Ventures is raising $700 million for two growth-stage funds

Venture capital firm 137 projects announced Thursday It has raised more than $700 million across two new growth-stage funds to support startups “with the potential to make a significant market impact.”

Last year, the company, founded by Justin Fechner-Wolfson, a former Founders Fund investor, said it had put more than $1 billion into companies working in defense, artificial intelligence and industrial systems. Its portfolio includes AI agent Cognition, AI-powered manufacturing company Hadrian Automation, and defense company Andruil.

It is also privately invested in Elon Musk’s SpaceX, which is to be expected For a historic IPO This year the company may be valued at more than a trillion. Bloomberg Reported 137 projects It first backed SpaceX in 2010 and has since cut the company by about twenty checks.