Booz Allen forms $100M venture capital fund
On July 13, McLean, VA-based Booz Allen Hamilton announced the formation of Booz Allen Ventures, a $100 million venture capital arm that furthers the firm’s commitment to investing in strategic dual-use, commercial technologies that will provide federal clients disruptive technology for critical missions. Aligned with client demand and the firm’s VoLT growth strategy, Booz Allen Ventures will invest in early-stage companies and technologies within four core areas of demand: defense, artificial intelligence/machine learning, cybersecurity, and deep technology.
“We are proud and excited to continue our work with the best startups to support our U.S. government clients. The ability to navigate bigger, faster technology waves and identify the right emerging technologies for their mission needs, as well as our own, is vital to enabling growth and mission speed,” said Susan Penfield, Booz Allen’s chief technology officer. “Booz Allen Ventures taps into America’s collective ingenuity by investing in software, hardware, and deep-tech startups that offer differentiated applications for the federal sphere, providing our clients access to a next-generation supply chain of breakthroughs critical to America’s national security and economic vitality.”
Booz Allen Ventures will enable Booz Allen to further expand its existing Tech Scouting capability to source and recommend technology investments with a focus on differentiated and mission-specific applications that demonstrate clear potential to outperform the industry average. Recent investments include Latent AI, Synthetaic, and Reveal Technology.
“Our Tech Scouting program gives us unique insight about where opportunities for hyper-growth exist. But anticipating opportunity isn’t sufficient – we need to deploy capital to move at digital speed,” said Brian MacCarthy, vice president of tech scouting and ventures at Booz Allen. “Booz Allen Ventures allows us to actively bridge the gap between opportunity and capability and accelerate the services-to-solutions transformation. As a strategic investor at the intersection of technology and mission, we are uniquely positioned to lead, connect, and convene advanced tech solutions to drive change in government, faster than ever before.”
Source: Booz Allen
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