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BMW i Ventures has a new $300M fund and AI is riding shotgun

VC firm 137 Ventures announced Thursday that it has raised more than $700 million across two new growth-stage funds to back startups “with the potential for significant market impact.” In the past year, the firm, founded by former Founders Fund investor Justin Fishner-Wolfson, said it has deployed more than a billion dollars into companies building in defense, AI, and industrial systems. Its portfolio includes AI agent company Cognition, AI-powered manufacturing company Hadrian Automation and, defense company Andruil. It is also, notably, an investor in Elon Musk’s SpaceX, which is expected to have...