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
Gallatin
Gallatin is a Washington, D.C.-based defense technology company focused on transforming military logistics through artificial intelligence. Founded in 2024 by a team with deep experience in Palantir, Scale AI, Amazon, and the Department of Defense, Gallatin leverages advanced software to deliver faster, smarter logistics and supply chain solutions for high-stakes military operations.
Firestorm Labs
Firestorm Labs is a San Diego-based defense technology company specializing in modular, open-architecture unmanned aerial systems (UAS) and expeditionary manufacturing solutions for military and critical commercial domains. Founded in 2022, Firestorm leverages advanced additive manufacturing and digital integration to drastically reduce cost and production timelines, enabling rapid field deployment and adaptation at the point of need.
Forterra
Forterra is a Maryland-based defense and industrial autonomy technology company specializing in next-generation autonomous driving systems for ground vehicles. Founded by Alberto Lacaze (formerly Robotic Research), Forterra delivers platform-agnostic, ruggedized autonomy for both military and commercial vehicles, ranging from logistics convoys to industrial yard trucks, with a focus on GPS-denied, off-road and contested environments.
Aalo
Aalo Atomics develops factory-built sodium-cooled reactors for data-centre colocation. The Aalo Pod (50 MWe) combines five Aalo‑1 modules, targeting ~3¢/kWh. LOIs with hyperscalers, Idaho Falls MOU, and INL licensing steps underpin traction. Differentiated vs Last Energy; supply‑chain and community engagement remain execution risks.
Picogrid
Picogrid is redefining the future of defense operations by delivering unified, open-architecture platforms that connect and control dispersed sensors, autonomous vehicles, radars, and command interfaces. Its Legion software and edge hardware enable real-time data fusion, threat visualization, and machine-speed operational agility, setting a new standard for interoperability and modularity in U.S. and allied defense technology.
Impossible Metals
Impossible Metals is a U.S.-Canadian robotics company developing autonomous underwater vehicles to selectively harvest polymetallic nodules from the ocean floor, targeting critical minerals for EVs, energy storage, and AI infrastructure. Their vision is to commercialize deep-sea mining while overcoming the environmental and regulatory challenges that have historically prevented large-scale deployment.
SambaNova
Sambanova serves demanding AI workloads—such as large language models, deep learning, and machine learning—typically deployed in data centers, hybrid cloud environments, and sector-specific verticals like financial services, healthcare, telecommunications, energy, and the public sector.
Chaos Industries
Chaos Industries is redefining battlefield detection, radar, and communication infrastructure through distributed, software-upgradeable hardware and intelligent networked architectures. The firm to challenge legacy defense suppliers and bring modern, scalable sensing and effects technology to both military and critical infrastructure customers worldwide.
Kraken Crypto Exchange
Developer of a trading platform designed to offer bitcoin exchange and trading services. The company's platform offers a blockchain- based financial infrastructure that reduces system costs and shortens the payment processing time, thereby enabling financial businesses to process large volumes of data in a short time.