Chris Moran: Lockheed to Put $100M Into Venture Fund to Back Tech Startups

Lockheed Martin plans to move $100 million in funds saved through the tax reform law into its venture capital arm that invests in startups involved in the development of emerging technologies, Defense News reported Wednesday.

“We'd love to go from “” generically “” about four investments per year, we'd love to get to six or even eight,“ Chris Moran, head of Lockheed's venture fund, said Wednesday at a roundtable with reporters.

Moran said the venture fund wants to invest in companies with technologies that have commercial potential and could provide Lockheed a competitive edge in artificial intelligence, cyber, 3D printing, space, data analytics and autonomy, among other areas.

“The perfect investments for us are those that are scaling and growing through commercial activity but at the same time are maturing, hardening, becoming more reliable as a result of the volume and scale that the commercial space can bring,“ he added.

You may also be interested in...

AKIMA

Akima Subsidiary Secures Spot on Potential $835M USAF Aircraft Maintenance Contract; Scott Rauer Quoted

An Akima subsidiary has won a seat on a potential 10-year, $835 million indefinite-delivery, indefinite-quantity contract from the U.S. Air Force for aircraft support services. Under the Rotary Wing Maintenance Contract Consolidation IDIQ, Akima Logistics Services will provide helicopter maintenance operations to support operational and training missions of the service branch.

TPS-75 radar

Air Force Taps Lockheed to Develop Long-Range Radar Interface

Lockheed Martin has received a follow-on contract to develop a data transmission interface as part of the U.S. Air Force's rapid prototyping competition to modernize the legacy TPS-75 military radar system. The integration contract under the Three Dimensional Expeditionary Long-Range Radar development program has options for the company to manufacture up to 35 systems, the military service said Wednesday.

SpaceX

SpaceX Continues Starlink Constellation Development With 60 More Small Satellites

Sixty SpaceX-operated small satellites aboard the Falcon 9 rocket were sent to low Earth orbit to join the Starlink broadband constellation that is being established by the company to deliver high-speed broadband internet connection to rural or remote communities.