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Anduril Industries

Transforming defense capabilities with advanced technology

Costa Mesa, CA

Founded 2017

Asset type

Late-stage company

Industry

Other

Company size

1001-5000

Funds

Profiles

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Anduril is a modern defense company powered by artificial intelligence and software. Founded with the lofty goal of becoming the next major defense prime - one that operates on the principles of speed, innovation, and disruption of the status quo.

About Anduril Industries

Watch 'Inside Anduril' by WSJ

Anduril Mission Document

Why we invested

Anduril has the potential to disrupt the defense industry in the way that SpaceX did in aerospace and Tesla in automotive
Anduril’s mission will protect the country from a changing world, help transform the status quo military-industrial complex, and potentially save taxpayers tens or even hundreds of billions of dollars
We believe Anduril will be one of the most important companies of our generation in ensuring that the future is secure, prosperous, and democratic

Investment overview

Discover insightful details about this investment, including its history, growth potential, and funding details.

Last funding date: Jun 5, 2025
Valuation at last funding: $30.5B
Total funding amount: >$6.5B

Anduril is best explained by the founders in the context of their founding story - "Anduril was founded in 2017 with the lofty goal of becoming not only the next major defense prime, but one that operated on the principles of speed, innovation, and disruption of the status quo. At the time, we found the long-revered and feared capabilities of the U.S. armed forces that were once the inspiration for science fiction had been leapfrogged by innovations in commercial technology. The ingenuity of incumbent defense primes had stagnated amid misaligned incentives and crippling bureaucratic procedures. Yet we understood that software would be at the core of weapons systems of the future."

From our perspective, Anduril is a modern defense company powered by artificial intelligence and centered around software. Anduril has the potential to disrupt the defense industrial complex in the way that Tesla disrupted the automotive industry or SpaceX disrupted aerospace. If Anduril delivers on its core mission, it will help protect the country from a changing world, help transform the status quo military-industrial complex, and save taxpayers tens or even hundreds of billions of dollars.

Update

Anduril and OpenAI launch strategic defense AI partnership

Two of the country’s leading private companies team up to strengthen America’s counter-drone systems and technological edge in defense

View update

Associated fund

Innovation Fund

Open Venture

Our Innovation fund is designed to deliver long-term growth from a diversified portfolio of technology companies. The fund is focused on investing in potentially high-growth private technology businesses. The Innovation fund takes a “multi-stage” approach, investing across the lifecycle of a private company – from early to late stage and continuing to hold after any potential IPOs. The fund invests across thematic sectors including artificial intelligence (AI) and machine learning (ML), data infrastructure, vertical and horizontal software, and other categories with attractive long-term growth potential.

ObjectiveAppreciation

Net asset value$361M

Inception dateJul 2022

An investment in the Fund is subject to, among others, the following risks:

Shares are not listed on any securities exchange and it is not anticipated that a secondary market for Shares will develop. Shares are subject to substantial restrictions on transferability and resale and may not be transferred or resold except as permitted under the Fund’s Limited Liability Company Agreement (the “LLC Agreement”). Although the Fund may offer to repurchase Shares from time to time, Shares will not be redeemable at a Shareholder’s option nor will they be exchangeable for Shares or shares of any other fund. As a result, an investor may not be able to sell or otherwise liquidate his or her Shares. Shares are appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment and for whom an investment in the Fund does not constitute a complete investment program.
If a Shareholder is able to sell its Shares outside the repurchase process, the Shareholder likely will receive less than the then-current NAV per Share.
There is no assurance that distributions paid by the Fund will be maintained at a certain level or that dividends will be paid at all.
The Fund’s distributions may be funded from unlimited amounts of offering proceeds or borrowings, which may constitute a return of capital and reduce the amount of capital available to the Fund for investment. Any capital returned to Shareholders through distributions will be distributed after payment of fees and expenses.
A return of capital to Shareholders is a return of a portion of their original investment in the Fund, thereby reducing the tax basis of their investment. As a result of such reduction in tax basis, Shareholders may be subject to tax in connection with the sale of Shares, even if such Shares are sold at a loss relative to the Shareholder’s original investment.

Investing in Shares is speculative and involves substantial risks. You should purchase Shares of the Fund only if you can afford a complete loss of your investment.

Past performance does not guarantee future results. Current and future holdings are subject to risk. Returns of one company are not indicative of an investment in the fund. To obtain fund performance click here. The fund's most recent schedule of investments is available here.

Investors should consider the Fund’s investment objectives, risks, charges, and expenses before investing. This information is included in the Fund Prospectus and can be accessed by calling (202) 804-0023. Read the prospectus carefully before investing.

Fundrise Innovation Fund is the marketing name for Fundrise Growth Tech Fund, LLC. The Innovation Fund is publicly registered under the Investment Company Act of 1940 as a non-diversified, closed-end management investment company that is operated as a “tender offer” fund.

The Fund’s portfolio will be concentrated in securities issued by technology companies and other investments that provide economic exposure to technology companies and as such, it may be subject to more risks than if it were broadly diversified across additional sectors and industries of the economy. Certain technology companies may face special risks that their products or services may not prove to be commercially successful. Technology companies are also strongly affected by worldwide scientific or technological developments, and as a result, their products may rapidly become obsolete. The Fund’s investments in companies involved in, or exposed to, artificial intelligence-related businesses may be negatively impacted because of, among other things, limited product lines, markets, financial resources and/or personnel; intense competition and potentially rapid product obsolescence these companies may face; loss or impairment of intellectual property rights; and the inability to successfully develop products or services even after spending significant amount of resources.

The Fund’s investment in private company securities, whether made directly or indirectly (e.g., through derivatives or private pooled investment vehicles) are generally illiquid. Because private company securities are thinly traded, such securities may display especially volatile or erratic price movements, sometimes in response to relatively small changes in investor supply or demand or other market conditions.

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