137 Ventures has raised over $700m across two new funds, lifting AUM above $15b as it doubles down on AI agents, robotics, advanced industry and a $10b‑plus SpaceX stake.
Summary
San Francisco–based 137 Ventures has raised over $700 million for two new investment vehicles, according to TechFundingNews and a separate press release.
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 larger specialist 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 provides liquidity solutions to founders and early employees alongside primary capital.
In its announcement, 137 Ventures said the new funds will back companies “operating at the frontier of AI, defense, and advanced industrial systems,” highlighting categories such as AI agents, robotics, and novel aerospace propulsion as key focus areas.
Recent disclosed portfolio additions include Cognition, Impulse Space, Hadrian, and Physical Intelligence—startups working on AI copilots, in‑space logistics, automated precision manufacturing, and embodied 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 seed deals.
That strategy fits with a broader venture shift toward fewer, larger rounds in companies seen as core infrastructure for AI and space, even as overall VC volumes in crypto and tech have cooled.
137 Ventures’ biggest swing remains its position in SpaceX, where it has invested across roughly two dozen rounds since 2010.
Firm founder Justin Fishner‑Wolfson told Bloomberg that “at this point we own well over I think $10 billion dollars” of 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 venture history if SpaceX proceeds with a long‑discussed 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 a thesis that AI‑enabled 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 funds mean 137 Ventures will be an even more active late‑stage counterparty—especially for teams looking for investors comfortable underwriting capital‑intensive, long‑duration bets.
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