SpaceX Backer 137 Ventures Raises $700M, Underscoring IPO and Valuation Expectations

New updates have been reported about SpaceX.

SpaceX’s investor base just deepened as 137 Ventures, an early and repeat backer of the company, raised more than $700 million across two new growth-stage funds, reinforcing institutional confidence ahead of a widely anticipated public listing. The venture firm, which first invested in SpaceX in 2010 and has since written roughly two dozen checks into the company, is explicitly targeting late-stage businesses with the potential for outsized market impact, positioning SpaceX as a flagship holding in a portfolio focused on defense, AI, and advanced industrial systems.

For SpaceX, the expanded firepower at a long-standing shareholder suggests continued access to secondary capital and structured liquidity for insiders and early investors as the company moves toward an IPO that some market observers expect could value it at over $1 trillion. While the new funds are not dedicated solely to SpaceX, they increase the capacity of an aligned, experienced investor to support the company’s future equity activity, potentially smoothing pre-IPO transactions, strengthening the shareholder base, and reinforcing SpaceX’s status as a core asset in late-stage venture portfolios.