October SEC Filings Reveal Big VC Fund Raises & AI Giants
October 2026 SEC filings show Diffusion ONE closing a $1.25B AI fund, Trust Ventures seeking $400M, and major activity in secondary markets.
Stock photo for illustration only, not from the actual event
- Diffusion ONE, a debut AI fund by former Benchmark VCs, secured $1.252 billion.
- Trust Ventures filed to raise a $400 million Fund V targeting regulated industries.
- Deep tech fund Interlagos Capital is also raising $400 million for its Fund II.
- Industry Ventures raised at least $1.7 billion for its secondaries fund.
October regulatory filings with the SEC have shed light on major capital movements within the venture capital ecosystem, showing multiple prominent firms actively securing fresh pools of capital to back startups across various sectors ranging from artificial intelligence to deep technology.
Among the notable filings, Austin-based Trust Ventures, founded in 2017 by Salen Churi, filed Monday to raise a $400 million Fund V. The firm historically focuses on supporting founders building in heavily regulated industries, with Koch Disruptive Technologies having previously backed its debut fund back in 2018.
Stock photo for illustration only, not from the actual event
Simultaneously, deep tech fund Interlagos Capital is also on the fundraising trail, seeking to secure $400 million for its Fund II, highlighting the persistent appetite for foundational and advanced technological developments among institutional backers.
Meanwhile, Victor Lazarte and Kris Fredrickson, two former Benchmark VCs, successfully raised $1.252 billion for their debut AI-focused fund, Diffusion ONE. This figure significantly surpasses their original $800 million target previously reported by Forbes in May. The firm has already deployed substantial capital, including co-leading Harvey's $550 million Series H alongside Lightspeed Ventures and participating in Etched's $300 million Series C.
The ability of debut funds to comfortably exceed initial targets underscores the continued concentration of institutional capital in proven AI leadership teams, even as broader venture funding environments remain selective.
Earlier in the month, Notable Capital, an early backer of companies like Anthropic, Airbnb, and Square, filed to raise its fifth fund. At the same time, Neil Mehta's Greenoaks—which co-led Anthropic's $65 billion Series H—filed paperwork to raise a vehicle called Greenoaks 7. The timing aligns well with Anthropic taking major steps toward a public offering, positioning these backers to market their potential returns effectively.
On the secondary market front, Industry Ventures has pulled in at least $1.7 billion for its secondaries fund launched in late July. The sheer magnitude of this vehicle underscores how critical the secondary market has become as investor appetite surges to buy into exiting private companies. PitchBook senior VC analyst Emily Zheng noted that stakes in heavy-hitter companies like Anthropic and OpenAI remain some of the most hotly contested real estate in the venture landscape.
Source: TechCrunch
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