**Lux Capital Raises $1.5 Billion for its Biggest Fund Yet: A Testament to Its Track Record in Innovation**
In a major coup, venture capital firm Lux Capital has just closed its ninth fund with a whopping $1.5 billion in commitments. That’s the largest fund in the firm’s 25-year history, and a pretty impressive feat considering the tough fundraising climate we’re in right now.
According to PitchBook, 2025 was a particularly rough year for venture capital fundraising in the US, with a 10-year low in the number of new funds raised. But Lux is bucking that trend, and it’s not hard to see why. The firm has built a reputation for spotting early trends in cutting-edge technologies like defense and AI.
Lux has been investing in defense tech for years, long before it became the “cool kid on the block.” They were one of the early backers of Anduril, a defense startup that’s now valued at a staggering $30.5 billion. Another notable investment is Applied Instinct, an autonomous vehicle startup that’s scored big contracts with the Pentagon and was valued at $15 billion last year.
And then there’s AI. Lux made some early bets on AI startups before ChatGPT became the buzzword it is today. They’ve invested in Hugging Face, Runway AI, and MosaicML, which was acquired by Databricks for $1.3 billion in 2023. It’s clear that the firm has an eye for spotting the next big thing.
But what really sets Lux apart is its track record of successful exits. They’ve had exits from investments like Recursion Pharmaceuticals, a synthetic biology startup that went public in 2021, and the sale of Auris Health, a surgical robotics pioneer that sold to Johnson & Johnson for up to $6 billion in 2019. It’s no wonder that limited partners are lining up to invest in their ninth fund.
With $7 billion in assets under management, Lux’s ninth fund is a major milestone for the firm. It’s a testament to their commitment to backing innovative technologies that have the potential to transform industries. And given the firm’s impressive track record, it’s no wonder that they’ve been able to raise such a large fund.
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