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Business/Financial

U.S. Innovation Technology Fund Lists More Than $1.5 Billion Raised In Private Equity Sale

Frank Wolfe

Wednesday, August 19th, 2026

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U.S. Innovation Technology Fund Lists More Than $1.5 Billion Raised In Private Equity Sale

Pictured is a Milken Institute website photo featuring Thomas Tull as a speaker at the institute's Future of Health Summit in November.

The Pittsburgh area-based U.S. Innovation Technology Fund, L.P. has recently raised more than $1.5 billion in a private equity offering to "accredited investors," according to a Wednesday Securities and Exchange Commission (SEC) filing. In 2022, billionaire Thomas Tull established the fund, which has invested in a number of relative newcomers to the defense industrial base, including Anduril Industries, Shield AI, Saronic, SandboxAQ, IonQ's [IONQ] Capella Space, Stoke Space, and Logos Space. More than 20 years ago, Tull founded Legendary Entertainment,…

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