Key Takeaways
- • Lockheed Martin Ventures is opening a London office with a goal of investing at least $100 million in the United Kingdom and Europe, according to a PR Newswire release.
- • The move follows the fund's capacity increase from $400 million to $1 billion, announced by Lockheed Martin in April.
- • Lockheed Martin Ventures, founded in 2007 with $100 million in initial funding, has invested more than $500 million in over 120 companies to date.
- • The fund has added 25 companies to its portfolio over the past two years and has already invested in several European companies, with more deals expected to close soon.
- • The strategy targets earlier-stage defense technologies to strengthen the transatlantic defense industrial base and meet growing European demand for sovereign capabilities.
Summary
Lockheed Martin (NYSE: LMT) is expanding its corporate venture arm into the United Kingdom and Europe. Lockheed Martin Ventures, the company's $1 billion startup investment arm, is opening a London office with the goal of deploying at least $100 million in the region, according to the company's announcement distributed by PR Newswire.
The expansion follows the largest increase in the fund's available capital in its history. In April, Lockheed Martin said it would raise investment capacity from $400 million to $1 billion. Part of that enhanced capacity will be directed through Lockheed Martin Ventures Europe, which the company says will accelerate the insertion of new technologies into defense applications and support its commitment to strengthening the transatlantic defense industrial base.
Chris Moran, vice president and general manager of Lockheed Martin Ventures, said the London presence will allow the fund to invest earlier in the startup lifecycle, ensure technical interoperability with existing platforms, and better support allied customers. Dan Tenney, senior vice president of Global Business Development and Strategy, said the fund is seeking technologies that complement the company's national security capabilities and that its investment strategy will evolve as technologies emerge and startup markets mature.
The company describes the fund as one of the most active and longest continuously operated aerospace and defense corporate venture capital firms in the United States. Since its 2007 founding, it has invested more than $500 million in more than 120 companies, including several in European markets, and has matured 60 companies into suppliers. The release states that European customers increasingly seek sovereign capabilities, and that Lockheed Martin is positioned to accelerate their development.
The expansion follows the largest increase in the fund's available capital in its history. In April, Lockheed Martin said it would raise investment capacity from $400 million to $1 billion. Part of that enhanced capacity will be directed through Lockheed Martin Ventures Europe, which the company says will accelerate the insertion of new technologies into defense applications and support its commitment to strengthening the transatlantic defense industrial base.
Chris Moran, vice president and general manager of Lockheed Martin Ventures, said the London presence will allow the fund to invest earlier in the startup lifecycle, ensure technical interoperability with existing platforms, and better support allied customers. Dan Tenney, senior vice president of Global Business Development and Strategy, said the fund is seeking technologies that complement the company's national security capabilities and that its investment strategy will evolve as technologies emerge and startup markets mature.
The company describes the fund as one of the most active and longest continuously operated aerospace and defense corporate venture capital firms in the United States. Since its 2007 founding, it has invested more than $500 million in more than 120 companies, including several in European markets, and has matured 60 companies into suppliers. The release states that European customers increasingly seek sovereign capabilities, and that Lockheed Martin is positioned to accelerate their development.
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