IPO CLUB
investments.
Disruptive startups, growing fast and shaping the future. Each company below links to our coverage. The colour key shows our relationship to each name.
Fund I
IPO.CLUB LLC · 2020 vintage
SpaceX
IPO'd · holdingxAI
IPO'd · holdingAddepar
Currently investedBoxabl
Currently investedEpic Games
Currently investedFlexport
Currently investedImpossible Foods
Currently investedKraken
Currently investedNatilus
Currently investedNeuralink
Currently investednewcleo
Currently investedOpenAI
Currently investedPerplexity
Currently investedPlaid
Currently investedRipple
Currently investedTerradepth
Currently investedAmerica 2030
A series of IPO CLUB II LLC
Kodiak
IPO'd · in lock-upACS
Currently investedDefenseShotling
Currently investedDefenseRoboticsImpossible Metals
Currently investedCritical MineralsRoboticsLightmatter
Currently investedAI InfrastructureEnergyLoft
Currently investedSpaceDefensenewcleo
Currently investedEnergyAI InfrastructureRedwood Materials
Currently investedCritical MineralsEnergyAI InfrastructureSambanova
Currently investedAI InfrastructureDefenseShield AI
Currently investedDefenseAI InfrastructureRoboticsTerradepth
Currently investedDefenseRoboticsAnduril
Due diligencedDefenseBoom
Due diligencedEnergyReflect Orbital
Due diligencedDefenseEnergySpaceAalo
PipelineEnergyAgility Robotics
PipelineRoboticsApptronik
PipelineRoboticsArmada
PipelineAI InfrastructureAVRAX Systems
PipelineDefenseBlue Water
PipelineDefenseBlue Origin
PipelineSpaceAI InfrastructureCastelion
PipelineDefenseCesiumAstro
PipelineSpaceChaos
PipelineDefenseCrusoe
PipelineAI Infrastructured-Matrix
PipelineAI InfrastructureFigure
PipelineRoboticsFirehawk
PipelineDefenseFirestorm
PipelineDefenseForterra
PipelineDefenseGallatin
PipelineDefenseKoBold Metals
PipelineCritical MineralsNatilus
PipelineRoboticsPicogrid
PipelineDefensePsiQuantum
PipelineAI InfrastructureSaronic
PipelineDefenseSkydio
PipelineDefenseSkyways
PipelineRoboticsStar Catcher
PipelineSpaceTerraPower
PipelineEnergytogether.ai
PipelineAI InfrastructureVarda
PipelineSpace1X Technologies
ResearchRobotics9 Mothers
ResearchDefenseAlbedo
ResearchSpaceDefenseAndrenam
ResearchDefenseApplied Intuition
ResearchDefenseRoboticsAstranis
ResearchSpaceDefenseATMOS Space Cargo
ResearchSpaceDefenseAtomic Industries
ResearchAI InfrastructureRoboticsAuterion
ResearchDefenseRoboticsBase Power
ResearchEnergyBedrock Energy
ResearchEnergyBedrock Robotics
ResearchRoboticsCambridge Aerospace
ResearchDefenseCohere
ResearchAI InfrastructureCommonwealth Fusion
ResearchEnergyCX2
ResearchDefenseD-Orbit
ResearchSpaceDelian Alliance Industries
ResearchDefenseDurin Mining Technologies
ResearchCritical MineralsRoboticsElementUSA
ResearchCritical MineralsDefenseElroy Air
ResearchDefenseEnergy Dome
ResearchEnergyEpirus
ResearchDefenseForm Energy
ResearchEnergyFortem Technologies
ResearchDefenseGecko Robotics
ResearchRoboticsGeneral Matter
ResearchCritical MineralsEnergyDefenseGroq
ResearchAI InfrastructureHadrian
ResearchDefenseHavocAI
ResearchDefenseHelsing AI
ResearchDefenseHermeus
ResearchDefenseSpaceHeron Power
ResearchEnergyInterlune
ResearchSpaceKela Technologies
ResearchDefenseKepler Communications
ResearchSpaceKraken Technologies
ResearchDefenseKyten Tech
ResearchDefenseEnergyLambda
ResearchAI InfrastructureLast Energy
ResearchEnergyLilac Solutions
ResearchCritical MineralsLyten
ResearchEnergyDefenseAI InfrastructureMach Industries
ResearchDefenseRoboticsMaritime Fusion
ResearchRoboticsMARTAC
ResearchDefenseMistral AI
ResearchAI InfrastructureModular
ResearchAI InfrastructureNeura Robotics
ResearchAI InfrastructureRoboticsNexla
ResearchAI InfrastructureNscale
ResearchAI InfrastructureODIN Space
ResearchSpaceDefenseOnebrief
ResearchDefenseOrqa
ResearchDefenseOverland AI
ResearchDefensePhoenix Tailings
ResearchCritical MineralsDefensePhysical Intelligence
ResearchAI InfrastructureRoboticsPoseidon Aerospace
ResearchDefenseRoboticsQuantum Brilliance
ResearchAI InfrastructureDefenseQuindar
ResearchSpaceDefenseR2 Wireless
ResearchDefenseRadiant Nuclear
ResearchEnergyRebellions
ResearchAI InfrastructureReOrbit
ResearchSpaceDefenseSaildrone
ResearchDefenseSanctuary AI
ResearchRoboticsSapient Perception
ResearchDefenseAI InfrastructureScale AI
ResearchAI InfrastructureSeasats
ResearchDefenseSiFive
ResearchAI InfrastructureSkild ai
ResearchRoboticsSkyFi
ResearchSpaceDefenseSPAICE
ResearchSpaceRoboticsAI InfrastructureStarcloud
ResearchSpaceAI InfrastructureTekever
ResearchDefenseTensorwave
ResearchAI InfrastructureUlysses Maritime Technologies
ResearchDefenseValar Atomics
ResearchEnergyDefenseVannevar Labs
ResearchDefenseVSORA
ResearchAI InfrastructureVulcan Elements
ResearchCritical MineralsDefenseWestmag
ResearchDefenseRoboticsCritical MineralsX-Bow Systems
ResearchDefenseSpaceZipline
ResearchDefense
Saronic
Saronic is a U.S.-based defense technology company focused on autonomous surface vessels (ASVs) for maritime defense. Founded in 2022, it matters because it fills a critical operational and industrial gap in U.S. shipbuilding capacity. As the Pentagon shifts toward a hybrid fleet of manned and unmanned systems, Saronic’s scalable, AI-integrated platforms are positioned to become foundational assets for the next generation of naval operations.
Skydio
Skydio is the leading U.S. manufacturer of autonomous drones, combining advanced AI with rugged hardware to support mission-critical operations in defense, public safety, and infrastructure. Backed by top-tier investors and trusted by the U.S. government, Skydio is redefining how drones are used in the real world—autonomously, intelligently, and at scale.
PsiQuantum
PsiQuantum has raised over $2 billion from top venture funds and government partners to build the world’s first utility-scale quantum computer. Backed by investors like BlackRock and major national programs, the company is positioned to lead the shift from quantum research to real-world deployment.
Lightmatter
Lightmatter pioneers photonic computing, integrating light-based processors with advanced optics to revolutionize AI infrastructure. Their flagship products—Envise™, Passage™, and Idiom®—deliver unprecedented performance, scalability, and energy efficiency, positioning Lightmatter at the forefront of next-generation data center solutions. With over $850M in funding and a $4.5B valuation, Lightmatter is redefining the future of computing.
Armada
Armada AI’s goal is to deploy a “one box” turnkey solution that brings together multiple software and AI computing services plus connectivity hardware and data storage for industrial scale operations at the edge.We’re bullish on edge computing, and Armada is well positioned to lead the industry.
Castelion
Developer of hypersonic weapons systems designed to deliver long-range, high-speed precision strikes against ground targets. The company's systems integrate solid rocket motors, advanced guidance, and targeting sensors, built for compatibility with existing military platforms. Castelion focuses on rapid development cycles, frequent flight testing, and scalable manufacturing to provide the U.S. military and its allies with affordable, next-generation strike capabilities designed to operate in contested environments.
Figure AI
Figure AI, founded in 2022 by entrepreneur Brett Adcock, is a robotics company developing general-purpose humanoid robots designed to address labor shortages across industries such as manufacturing, logistics, and retail. The company’s advanced AI-driven robotics integrate computer vision, machine learning, and autonomous mobility to perform structured and repetitive tasks traditionally handled by human workers. With a focus on scalable automation and real-world deployment, Figure AI aims to redefine workforce productivity through intelligent robotic solutions.