Venture Firm’s 2014 Fund Sees Eightfold Return
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Venture Firm's 2014 Fund Sees Eightfold Return
- 137 Ventures' 2014 fund has generated returns exceeding eight times the initial investment, driven by stakes in companies like SpaceX, Anduril, and Cognition.
- The firm, co-founded by Justin Fishner-Wolfson, distributed $2.5 billion in SpaceX shares to investors last quarter after the company's record-breaking public listing in June 2026.
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137 Ventures, a growth-stage venture capital firm, has seen its 2014 fund achieve remarkable success, returning more than eight times the capital initially invested by its limited partners, net of fees. This impressive performance is largely attributed to early and sustained investments in high-profile technology companies such as SpaceX, Anduril, and Cognition.
The firm, co-founded by Justin Fishner-Wolfson, has been a long-term backer of Elon Musk’s SpaceX, first investing in 2010 when the company was valued at approximately $1 billion. Over 16 years, 137 Ventures made roughly two dozen follow-on investments in SpaceX without selling any shares. This strategy culminated in a significant distribution to investors last quarter, with $2.5 billion worth of SpaceX shares being returned following the rocket company’s record-breaking initial public offering (IPO) on June 12, 2026. SpaceX’s IPO was the largest in history, pricing at $135 per share and raising approximately $75 billion, with the company’s market capitalization reaching about $2.1 trillion on its first day of trading.
Beyond SpaceX, 137 Ventures has also made strategic investments in other rapidly growing companies. Anduril Industries, a military technology company specializing in autonomous systems, was valued at $61 billion as of May 2026 after a $5 billion funding round. Cognition, an AI coding startup known for its Devin AI engineering agent, is reportedly nearing a new funding round at a valuation of approximately $47 billion, a significant increase from its $26 billion valuation in May 2026. These key holdings underscore 137 Ventures’ focus on companies at the forefront of space exploration, defense technology, and artificial intelligence.