Lockheed Martin, a US aerospace company, has quadrupled its venture capital fund from $200 million to $400 million, with the intention of investing the extra money in early-stage technological startups.
According to a press statement, Lockheed Martin has so far invested in 11 technological firms that work in a variety of industries, including sensor technology, quantum computing, advanced manufacturing, and space services.
“The success of our venture capital investments to date is a testament to our strategy and allows Lockheed Martin to continue to deliver innovative solutions across all domains,” said Jay Malave, the chief financial officer of the company.
He added, “Doubling our venture fund will allow us to increase the number of startup companies we can work with to advance 21st-century security technologies for the benefit of our customers.”
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