Disruptive raises $10B fund to make big bets on at least 10 companies

Dallas-based investment firm Disruptive, whose past bets include Palantir, Airbnb and Spotify, announced a $10 billion fund to back at least 10 late-stage companies with checks of up to $1 billion, targeting AI and defense. It is the firm's first blind-pool fund, following deal-by-deal special purpose vehicles, and the Dallas Business Journal reports it is the largest venture fund raised in Texas history.