News Summary

8VC, a venture capital firm founded by Palantir co-founder Joe Lonsdale, is seeking to raise nearly $1 billion for its sixth fund. Based in Austin, Texas, this fund is anticipated to surpass its previous $880 million flagship vehicle by approximately 14%. Since its inception a decade ago, 8VC has invested in over 600 companies, notable among them being Asana, Flexport, and The Boring Company. The firm has a significant focus on defense technology and health tech sectors. Recent investments include Saronic, a manufacturer of robotic boat drones, and Overland AI, which is developing autonomous vehicles for defense applications. In health tech, 8VC has invested in biotechs such as Senti Bio and Vir. Joe Lonsdale moved the firm to Austin in 2020, citing the city’s tolerance for ideological diversity.