Disruptive, a Dallas-based investment firm known for past investments in Palantir, Airbnb, and Spotify, announced a $10 billion fund to back at least 10 late-stage companies, with checks of up to $1 billion each, it said Tuesday. This marks one of the largest fundraises of the year so far, targeting capital-intensive fields like AI and defense. The firm, founded in 2012 by Alex Davis, previously raised money through deal-by-deal special purpose vehicles, making this its first blind-pool fund. The Wall Street Journal reported earlier this month that the firm was seeking to raise the fund and had already secured at least $7.5 billion in capital commitments. According to the Dallas Business Journal, this new vehicle is the largest venture fund raised in Texas history.