VC firm 137 Ventures announced Thursday that it has raised more than $700 million across two new growth-stage funds to back startups “with the potential for significant market impact.” In the past year, the firm, founded by former Founders Fund investor Justin Fishner-Wolfson, said it has deployed more than a billion dollars into companies building in defense, AI, and industrial systems. Its portfolio includes AI agent company Cognition, AI-powered manufacturing company Hadrian Automation, and defense company Anduril. It is also, notably, an investor in Elon Musk’s SpaceX, which is expected to have a historic IPO this year that could value the company at more than a trillion dollars. Bloomberg reported that 137 Ventures first backed SpaceX in 2010 and has since cut the company around two dozen checks. Topics San Francisco, CA StrictlyVC kicks off the year in SF. Register now for unfiltered fireside chats and VC insights with leaders from Uber, Replit, Eclipse, and more. Plus, high-value connections that actually move the needle. Tickets are limited. REGISTER NOW