The venture capital firm 137 Ventures declared on Thursday that it has secured over $700 million through two new growth-stage funds aimed at supporting startups “with the potential for substantial market influence.” 

Over the previous year, the firm, established by former Founders Fund investor Justin Fishner-Wolfson, mentioned it has invested more than a billion dollars into firms focused on defense, AI, and industrial systems. Its investment portfolio features AI agent company Cognition, AI-driven manufacturing firm Hadrian Automation, and defense enterprise Anduril.

Additionally, it is a noteworthy investor in Elon Musk’s SpaceX, which is anticipated to have a groundbreaking IPO this year that could appraise the firm at over a trillion dollars. Bloomberg highlighted that 137 Ventures initially invested in SpaceX in 2010 and has since issued around two dozen checks to the company.