The venture portfolio is where we can follow an idea beyond the industries we know firsthand. We look for builders attempting something difficult enough to change an industry if it works — and operators with the ability to turn an ambitious idea into a real company.
We do not need to have invented the idea. We need to believe in the people building it.
SpaceX is pursuing one of the largest industrial ambitions of our time: making life multiplanetary. Reusable rockets have already changed the economics of access to space; Starlink has built a global satellite communications network; and Starship is being developed as a fully reusable transportation system for Earth orbit, the Moon, Mars and beyond.
xAI was founded around an unusually broad mission: use artificial intelligence to accelerate human scientific discovery and deepen our understanding of the universe. Its work spans frontier reasoning models, Grok and some of the world's largest AI computing infrastructure. We invested while xAI was an independent private company; SpaceX acquired it in February 2026.
Anthropic is building Claude at the frontier of artificial intelligence while pursuing the harder problem alongside it: how increasingly capable AI systems can remain useful, understandable and safe as their influence on the world grows.
Anduril is rebuilding defense around software, autonomy and modern manufacturing. Its Lattice platform connects and coordinates autonomous systems across air, land and sea, while the company develops and fields new capabilities on timelines measured in months rather than traditional defense-industry cycles.
Databricks is building the platform where enterprise data and artificial intelligence come together — unifying data, analytics, applications and AI agents around an organization's own information.
Ramp is rebuilding the finance function around software. Cards, expenses, accounts payable, procurement and financial operations sit in one platform built around a counterintuitive idea for a financial company: help businesses spend less money and operate better. More than 70,000 customers now use the platform.
Baseten works on the part of artificial intelligence most users never see: getting models out of a demo and into reliable production. Its infrastructure lets AI companies deploy and serve models at scale while optimizing the speed, reliability and cost of every inference.
Elevian came out of the Harvard Department of Stem Cell and Regenerative Biology, working on a class of medicine that treats aging itself as a target. Its research centers on GDF11, a circulating protein that declines with age, with early work directed at recovery from stroke. Kuelbs Family Office participated in the company's $40 million financing in 2021, and John later served as a business advisor.