VC firm 137 Ventures has announced that it has raised over $700 million for two new growth-stage funds to support startups with significant market potential. Founded by Justin Fishner-Wolfson, a former investor at Founders Fund, the firm has already deployed over a billion dollars into companies developing in areas such as defence, AI and industrial systems.

Notable portfolio companies include Cognition, an AI agent company; Hadrian Automation, an AI-powered manufacturing company; and Anduril, a defense technology firm. It's also a long-standing investor in Elon Musk’s SpaceX, backing the space exploration giant since 2010 with numerous investments.

The move aligns well with the current tech trends where artificial intelligence and space ventures are leading the charge. As we see companies pushing boundaries and aiming for market disruption, it seems that 137 Ventures is ready to back them all the way – or at least as far as a billion dollars will take you.

With SpaceX expected to have its historic IPO this year potentially valuing the company at over a trillion, it’s clear that big bets are being made on transformative technologies. Whether these investments will lead to monumental breakthroughs remains to be seen, but one thing is certain – the future of tech is looking increasingly bright and expensive.