Lux Capital lands $1.5B for its largest fund ever

Lux Capital, a 25-year-old VC firm known for its investments in frontier science and defense technology, has closed a $1.5 billion ninth fund, the largest fund in the firm’s history. Despite 2025 marking a 10-year low for the number of new VC funds raised in the U.S., according to PitchBook, it’s not hard to see why limited partners are still piling into Lux. The firm has been investing in defense technologies for years before geopolitical shifts turned the sector into one of the most desirable investm ...