MoneyThe story, in brief
How Justin Ernest invested nearly $400M into hot startups without a traditional VC fund
$400M. That's what Justin Ernest deployed into Anthropic, Anduril, and SpaceX—without raising a traditional VC fund.
The KeyNews take
Why it matters
A prominent investor's unconventional capital deployment strategy reveals how top-tier startups are accessing growth capital outside traditional fundraising channels, signaling shifts in how AI/defense/space founders access institutional LP networks.
The key facts
5 to knowJustin Ernest (Sabertooth VC founder) deployed ~$400M into startups
Portfolio includes Anthropic, Anduril, SpaceX
Used captive LP network instead of formal fund raise
Avoided traditional year-long VC fundraising cycle
Implies alternative capital structures gaining traction in AI/deeptech ecosystem
Go to the source
TechCrunch AItechcrunch.com
Publisher excerpt: Instead of spending a year raising a formal venture fund, the Sabertooth VC founder used a captive network of LPs to invest startups like Anthropic, Anduril, and SpaceX.