Bethesda, Md.-based Lockheed Martin Ventures, the venture arm of the aerospace and defense contractor, is expanding its corporate venture investing in Europe, targeting at least $100 million in defense technology startups in the United Kingdom and across the continent in a bid to gain earlier access to emerging technologies and regional supply chains. The company says it will open a London office following its decision earlier this year to increase the fund’s total investment capacity to $1 billion.
Lockheed Martin Ventures operates as a strategic investment vehicle designed to identify technologies that can eventually be implemented into the company’s defense programs. Its investment typically targets companies developing capabilities relevant to national security, advanced manufacturing, sensing technologies, software, and next-generation communications.
“We are reaching even deeper into the investing ecosystem, meeting our potential partners where they are,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures.
Before joining Lockheed Martin in 2016, Moran spent more than three decades at Applied Materials, where he held a series of strategy and investment leadership roles in Silicon Valley. He served as head of corporate strategy and led Applied Ventures LLC, the company’s strategic investment arm. Earlier in his career, Moran held technical positions at Atari and Hughes Aircraft Company.
“Our presence will help us seize opportunities for investing earlier in the startup lifecycle, ensure technical interoperability with existing platforms, and better support our allied customers,” Moran said.
Since its launch, the fund has invested more than $500 million in over 120 companies, with approximately 60 portfolio businesses eventually becoming suppliers to Lockheed Martin. More than 25 companies have joined the portfolio during the past two years.
The firm’s investments in space and hypersonic startups include Terran Orbital, Rocket Lab, Antaris, and Slingshot Aerospace. Its other portfolio companies include Ayer Labs, Anello Photonics, and Perseus Materials.