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.

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