137 Ventures raises $700M for two growth-stage funds backing defense and AI startups

137 Ventures, a VC firm whose portfolio includes SpaceX, Anduril, and Hadrian, raised over $700 million for two new growth-stage funds focused on defense, AI, and industrial startups. The raise signals continued strong investor appetite for defense-tech and hard-tech growth-stage companies. The firm's portfolio positions it at the intersection of national security and advanced technology, with investments spanning space, defense manufacturing, and AI infrastructure.