Lux Capital lands $1.5 billion for its largest fund ever

In Brief

Lux Capital, a 25-year-old VC steadfast known for its investments successful frontier subject and defence technology, has closed a $1.5 cardinal ninth fund, the largest money successful the firm’s history.

Despite 2025 marking a 10-year debased for the fig of caller VC funds raised successful the US task fundraising, according to PitchBook, it’s not hard to spot wherefore constricted partners are inactive piling into Lux.

The steadfast has been investing successful defence technologies for years earlier geopolitical shifts turned the assemblage into 1 of the astir desirable concern categories. Lux was a seed-stage capitalist successful Anduril, which was past valued astatine $30.5 billion, and Applied Intuition, an autonomous conveyance startup that secured contracts with the Pentagon and was valued astatine $15 billion this year.

Lux has besides made aboriginal bets connected AI startups earlier the manufacture took off, post-ChatGPT. The firm’s early-stage AI investments see Hugging Face, Runway AI, and MosaicML, the second of which was acquired by Databricks for $1.3 billion successful 2023.  

In summation to being aboriginal to the defence tech and AI trends, Lux has realized important exits from its concern successful AI cause find institution Recursion Pharmaceuticals, which went nationalist successful 2021, and the merchantability of Auris Health, a surgical robotics pioneer that sold to Johnson & Johnson for up to $6 billion successful 2019.

The latest fundraise brings Lux’s nether absorption to $7 billion.

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