Google-Linked VC Fund Series X Aims to Raise Over $500 Million

A venture capital fund with links to Alphabet Inc.’s famed moonshot factory, X, has raised hundreds of millions to invest in the companies that spin off from the lab, according to a person familiar with the matter.

Series X Capital, which is run by YouTube alum and former Facebook Chief Financial Officer Gideon Yu, now expects to exceed its initial target of $500 million later this year.

The fund launched in 2024 with the mission of helping projects graduate from Alphabet’s X and make the transition into standalone businesses. The fundraising effort, which Bloomberg reported on last year, is set to wrap up ...