137 Ventures has raised more than $700 million through two new funds, raising assets under management above $15 billion while doubling down on AI agents, robotics, advanced industry and a more than $10 billion stake in SpaceX.
Summary
- SpaceX backer 137 Ventures has closed more than $700 million in two new funds, bringing its assets under management above $15 billion.
- The growth-stage company says the new capital will go into high-impact technology bets on artificial intelligence agents, robotics, advanced industrial systems and aerospace propulsion.
- 137 Ventures now owns more than 1% of SpaceX, a stake its founder values at more than $10 billion ahead of a potential initial public offering (IPO) that could value the rocket company at more than $1 trillion.
San Francisco-based 137 Ventures has raised more than $700 million for two new investment vehicles, according to TechFundingNews and a separate Press release.
New funds propel 137 companies to exceed $15 billion in assets under management
The closings bring the firm’s total assets under management to more than $15 billion as of March 2026, cementing its status as one of the largest specialized growth funds backing late-stage technology companies.
137 Ventures, founded in 2010 by Justin Fishner-Wolfson and S. Alexander Jacobson after their time at Founders Fund, focuses on “generational technology companies” and often offers liquidity solutions to founders and early employees along with primary capital.
Betting on AI agents, robotics and propulsion
In its announcement, 137 Ventures said the new funds will support companies “operating at the frontier of artificial intelligence, defense and advanced industrial systems,” highlighting categories such as artificial intelligence agents, robotics and novel aerospace propulsion as key areas of focus.
Recent portfolio additions revealed include Cognition, Impulse Space, Hadrian and Physical Intelligence, startups working on AI co-pilots, in-space logistics, precision automated manufacturing and embedded AI, respectively.
Over the past 12 months, the firm has deployed more than $1.7 billion, concentrating capital into a relatively small number of high-conviction positions rather than spreading bets across hundreds of smaller initial deals.
That strategy dovetails with a broader venture shift toward fewer and larger rounds in companies seen as core infrastructure for the AI and space, even as overall venture capital volumes in crypto and tech have cooled.
More than $10 billion stake in SpaceX ahead of $1 trillion IPO
The biggest change for 137 Ventures remains its position in SpaceXwhere it has invested in approximately two dozen rounds since 2010.
Company founder Justin Fishner-Wolfson said Bloomberg that “we currently own more than $10 billion” in SpaceX shares, adding that the stake represents “more than 1%” of the company.
That exposure could become one of the biggest single-position wins in modern corporate history if SpaceX proceeds with a long-discussed initial public offering (IPO) at a valuation north of $1 trillion, as some bankers and secondary market indications suggest.
Beyond SpaceX, 137 Ventures has backed names like Anduril, Gusto and Ramp, reflecting the thesis that AI-based defense, fintech and enterprise infrastructure will generate outsized returns as automation and autonomy reshape both digital and physical industries.
For founders building AI agents, robotics platforms, or space-adjacent businesses, the new funding means 137 Ventures will be an even more active late-stage counterpart, especially for teams looking for investors comfortable underwriting long-duration, capital-intensive bets.
