Disruptive is a Dallas, Texas-based investment firm founded in 2012 by Alex Davis. The firm backs private technology companies operating at or near public scale, structuring each investment deal by deal rather than through a traditional blind-pool fund. Disruptive has offices in Dallas, New York, and the Middle East and employs roughly 30 people.
Disruptive invests in late-stage and near-public technology companies across AI infrastructure, defense technology, and mission-critical enterprise software.
The firm makes concentrated bets, typically six or fewer companies a year, seeking what founder Alex Davis calls "A-plus" opportunities.
The firm does not take board seats and structures each investment as its own deal rather than drawing from a blind-pool fund.
In October 2026, Disruptive disclosed $7.5 billion in secured commitments toward a $10 billion fund, moving the firm from its longtime special purpose vehicle (SPV) model toward a more traditional fund structure.
The shift comes as major AI labs including Anthropic and OpenAI restrict secondary transactions through SPVs.
Disruptive plans to deploy the capital into roughly ten late-stage technology companies over the next two years. The raise follows the firm's rise to prominence after its early backing of Groq, the AI chip company that later struck a deal with Nvidia.
Leadership
Alex Davis, Founder, Chairman, and CEO, started Disruptive in 2012. Ash Spiegelberg, Chief Strategy Officer, joined after leading Brunswick Group's San Francisco office and its global Technology, Media and Telecommunications practice.
Joy Royal, Chief Financial Officer, joined after nearly two decades in finance leadership at Oaktree Capital Management; Phillip Caputo moved to Managing Director, Finance, alongside her arrival.
Investment Strategy
Disruptive avoids blind-pool fund structures, assembling investor groups around individual transactions and keeping a highly selective investor base.
The firm targets companies already operating at or near public scale rather than early-stage risk, deploying large, concentrated checks through primary, secondary, and structured transactions and engaging in special-situations investing.
Notable Investments
Alex Davis, Founder, Chairman and CEO
alexd@disruptive.tech
Ash Spiegelberg, Chief Strategy Officer
ashs@disruptive.tech
Richard Rinella, Partner
richardr@disruptive.tech
Phillip Caputo, Partner
phillipc@disruptive.tech
Kayley Crews, Associate
kayleyc@disruptive.tech
David Benitez, Associate
davidb@disruptive.tech
Apoorv Vaidya, Senior Associate
apoorvv@disruptive.tech
United States
