Led · Series D · Aug 2026

Hadrian builds automated manufacturing facilities that mass-produce parts for vehicles used by the military. The company has opened multiple facilities, including a fourth site in Alabama announced in March to produce submarine parts. That Alabama facility was structured as a public/private partnership and valued at $2.4 billion, according to Hadrian. Hadrian has attracted large venture and institutional backers and recently raised a $1.37 billion round at a $7.87 billion valuation. About a year earlier it raised a $260 million Series C led by Founders Fund and Lux Capital, bringing total capital raised to roughly $2 billion per PitchBook estimates. The company's current plans and financing indicate continued expansion of its automated production footprint for defense supply chains.

Participated · Series F · Jun 2026

Ramp started as an expense-management platform and has expanded into payments, fraud detection, procurement, vendor management and accounting while integrating AI capabilities across its product suite. The company says it has more than 70,000 customers, including Visa, Uber, Shopify, Anduril and Figma, up from 50,000 last November. Ramp reported annualized revenue of more than $1 billion (with Bloomberg reporting a run-rate above $1.5 billion) and said it has reached positive free cash flow. It has launched AI-focused features such as AI agents for procurement, expense management, accounting and budgeting, and even a corporate credit card intended for AI-agent use. Ramp has raised over $3 billion in total capital to date. Management has indicated an eventual aim to go public, though no timing was given.

Led · Series D · Jun 2026

Impulse Space, founded by SpaceX engine guru Tom Mueller, develops highly maneuverable spacecraft and propulsion systems for in-space mobility. Its product portfolio includes Mira, a maneuverable platform that has flown at least three missions, and Helios, a vehicle designed to move satellites rapidly to higher orbits. The company is targeting U.S. Space Force customers and is preparing another Mira launch expected before the end of the year after a prior flight encountered a navigation-related propellant issue. Impulse recently opened an office in Colorado as it expands its engineering team and plans to hire up to 200 new employees with proceeds from its Series D. The company’s software teams use AI coding tools, though leadership has expressed skepticism about applying current deep learning models to hardware design.

Participated · Series D · May 2026

Cognition develops Devin, an autonomous AI software engineer designed to write and maintain code. The company acquired the remaining parts of Windsurf last year and positions itself against other model makers in the coding space. Cognition counts enterprise customers including Mercedes-Benz, NASA, Goldman Sachs and Santander. It reported a $492 million annualized revenue run-rate and said enterprise usage of Devin grew roughly 50% month-over-month for six months. The company has demonstrated rapid commercial adoption, which it cited alongside its latest financing.

Participated · Series C · Apr 2026

Hermeus develops hypersonic unmanned aircraft and pursues rapid prototyping and flight testing to accelerate aircraft maturation. The company has flown multiple demonstrators, including a recent demonstrator about the size of an F-16 and an earlier, smaller demonstrator, and is working on a third aircraft iteration aimed at supersonic performance. Hermeus shifted from developing an in-house engine to modifying Pratt & Whitney’s F100 engine via a relationship with RTX/Pratt & Whitney to speed testing and reduce technical risk. The startup is expanding manufacturing capabilities and hiring—its staff is approaching roughly 300 employees—to support hardware production and iterative builds. Financially, the company recently raised $200 million in equity and $150 million in debt, valuing it at $1 billion, to fund growth and continued flight-test programs.