137 Ventures closes $700M for two growth-stage AI and deeptech funds

137 Ventures, the SpaceX-backed venture firm, has announced final closes for two new growth-stage funds totaling $700 million. The investor focuses on hard tech and AI infrastructure, with significant exposure to compute platforms, autonomous systems, and manufacturing automation—sectors where unit economics reward deep domain expertise over platform generality.

For enterprise infrastructure teams, 137's fundraising signals continued capital availability for moonshot infrastructure projects. The fund's SpaceX lineage suggests a preference for vendors capable of vertical integration and long-term engagement on mission-critical workloads.