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Lux Capital has raised $1.5 billion for its ninth fund, marking the largest fund in its history. The firm plans to invest in companies focused on breakthrough science and national security amid heightened collaboration between Silicon Valley and Washington.

Lux's history includes early investments in defense companies like Anduril Industries, valued at $30.5 billion, and Applied Intuition, valued at $15 billion. The fund, which was oversubscribed, reflects strong investor interest despite a general decline in VC fundraising.

Lux has also made significant exits, including Recursion Pharmaceuticals and Auris Health, contributing to a total of $7 billion in assets under management. The firm aims to continue investing in promising startups, with check sizes ranging from $100,000 to $100 million.