Lockheed Martin (NYSE:LMT) said it is significantly increasing the size of its venture capital arm, Lockheed Martin Ventures, raising its capacity from $400 million to $1 billion. The move represents a 250% expansion and marks the fund’s largest increase since its launch in 2007.
The defense contractor said the additional capital will be deployed over time to advance critical national security technologies and accelerate the transition of innovations from research and development into operational use within the Defense Industrial Base.
“Our venture capital investments are a critical part of our overall strategy to develop and integrate the best technologies for national security now and in the future,” said Evan Scott, CFO of Lockheed Martin. “Our investments help create a pipeline of cutting-edge technologies that create a resilient industrial base, drive growth, and ultimately help the United States and its allies deter the most pressing emerging threats.”
Since its inception with $100 million in initial funding, Lockheed Martin Ventures has invested more than $500 million across over 120 companies. More than 60 of these firms have gone on to become suppliers to Lockheed Martin, collectively securing over $750 million in contracts. In the past two years alone, 25 new companies have been added to the portfolio.
The fund targets emerging technologies such as quantum computing, autonomy, artificial intelligence, directed energy, advanced materials, and microelectronics. Lockheed Martin describes its venture arm as one of the most active and longest-running corporate venture capital platforms in the U.S. aerospace and defense sector.
Lockheed Martin Ventures is also set to host its ninth annual Demo Day in August at the company’s headquarters, where it will showcase portfolio companies and startups operating in aerospace and defense.