Austin-based venture capital firm 8VC, led by Palantir founder Joe Lonsdale, is aiming to raise nearly US$1 billion for its sixth fund, according to a regulatory filing.

This target reflects a 14% increase from its previous flagship fund of US$880 million, which closed in February 2023.

Founded in 2015, 8VC has invested in over 600 companies, including Asana, Flexport, hims & hers, and The Boring Company.

The firm is also noted for its investments in the defense technology, such as robotic boat drone manufacturer Saronic and autonomous vehicles company Overland AI.

8VC places a strong emphasis on health technology and life sciences, which account for over a quarter of its investments, including biotech firms like Senti Bio and Vir.