Disruptive CEO Alex Davis on the New $10B Fund and Late-Stage Tech Investing

As private technology companies stay private longer and grow larger, access to late-stage capital has become a central question for investors. Disruptive founder and CEO Alex Davis discusses the firm's newly announced $10 billion flagship fund, which is designed to back roughly ten growth and late-stage companies with investments of up to one billion dollars each, and explains how the firm identifies its targets.

■ The New Fund and Its Strategy
- Fund size, structure, and the scale of individual commitments
- Target sectors, including AI, AI infrastructure, and defense technology
- How the firm selects companies from the universe of private billion-dollar firms
- The firm's proactive approach versus inbound deal flow in Silicon Valley

■ AI, Open Models, and Ecosystem Thinking
- The search for uniquely positioned companies and the case for backing open-model developers
- The importance of a thriving open ecosystem in the United States, set against developments in China
- Views on the balance between open and closed model approaches

■ Anthropic and Late-Stage Growth
- Comments on the firm's stake in Anthropic and its pending public listing
- Observations on the company's growth trajectory and capital raised

The interview suits investors, founders, and anyone tracking private-market technology financing. It offers a first-hand look at how a large growth-stage investor frames selection criteria, sector focus, and the shift toward public listings, helping viewers form their own view of where late-stage capital is heading.