SpaceX, Perplexity Investor Glade Brook Raises $515 Million To Back AI And Space Startups

Glade Brook Capital Partners, a tech-focused investment firm known for backing companies like SpaceX and Perplexity, has raised $515 million in its fourth fund.

According to a report by Bloomberg, the Connecticut-based firm will continue targeting growth-stage investments in sectors including artificial intelligence, fintech, e-commerce, space, and defense. 

Despite strong demand for the fund, which raised more than its initial target, founder Paul Hudson said market conditions remain difficult. “It’s the most challenging fundraising environment that I’ve seen in my career,” he said.

In the equities market, the Global X Artificial Intelligence & Technology ETF (AIQ) has gained nearly 15% this year. In pre-market trading on Monday, AIQ edged 0.16% higher, with retail sentiment on Stocktwits improving to ‘neutral’ territory from ‘bearish’ the day before.

Founded in 2011, Glade Brook was an early investor in high-profile companies such as Uber Technologies (UBER) and Airbnb (ABNB), and has more recently participated in rounds for newer names like Perplexity, an AI-powered search startup.

Hudson noted that the firm’s track record in late-stage tech helped differentiate it in a crowded field and amid the broader slowdown in private tech investing. “We’re focused on durable companies with the ability to scale, even in a tough environment,” he said.

Glade Brook holds stakes in high-profile companies including Stripe, Ramp, and Elon Musk’s Neuralink, as well as xAI. Its 2021 fund, which raised $430 million, ranks in the top 5% for its year, the report noted, citing figures from Cambridge Associates.

Read also: Amazon’s Kuiper Reportedly In Focus As Trump Looks Beyond SpaceX For Golden Dome Missile Shield

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