Lux Capital Secures $1.5 Billion, Marking Its Biggest Fund to Date

Venture capital firm Lux Capital has closed its seventh and largest fund, raising $1.5 billion to back ambitious science and technology startups. The fund's size underscores sustained investor confidence in Lux's quarter-century track record of identifying and nurturing foundational tech companies.

The firm, founded in 2000, is known for placing early bets on defense technology pioneer Anduril, autonomous vehicle software leader Applied Intuition, and generative video company Runway AI. This new capital pool will allow Lux to continue its strategy of funding entrepreneurs who are building tangible products at the intersection of software, hardware, and science.

In a statement, Lux's partners indicated the fund will target what they call 'the impossible and improbable'—ventures that aim to solve significant challenges in sectors like national security, manufacturing, and healthcare. The raise arrives during a period of increased selectivity within venture capital, suggesting limited partners are concentrating commitments with established firms that have demonstrated an ability to generate returns from complex, deep-tech bets.

The $1.5 billion fund represents a substantial increase from Lux's previous $1.15 billion vehicle raised in 2021, positioning the firm to write larger checks and support companies through more stages of growth as they work to bring transformative ideas from lab to market.

Source: TechCrunch