Booz Allen Hamilton has formed Booz Allen Ventures, LLC, a $100 million corporate venture capital arm that will invest in strategic dual-use commercial technologies for federal clients.
Booz Allen Ventures will invest in early-stage companies and technologies within four core areas of demand: defense, artificial intelligence/machine learning, cybersecurity and deep technology.
“We are proud and excited to continue our work with the best startups to support our U.S. government clients,” said Susan Penfield, Booz Allen chief technology officer. “The ability to navigate bigger, faster technology waves and identify the right emerging technologies for their mission needs, as well as our own, is vital to enabling growth and mission speed.”
Booz Allen Ventures will enable Booz Allen to expand on its existing tech Scouting capability to source and recommend technology investments with a focus on mission-specific applications. Recent such investments include Latent AI, Synthetaic and Reveal Technology.
“Booz Allen Ventures taps into America’s collective ingenuity by investing in software, hardware, and deep-tech startups that offer differentiated applications for the federal sphere, providing our clients access to a next-generation supply chain of breakthroughs critical to America’s national security and economic vitality,” Penfield added.
Brian MacCarthy, vice president of tech scouting and ventures at Booz Allen, said the firm’s tech scouting program gives unique insight into growth opportunities, but anticipating those opportunities isn’t sufficient.
“We need to deploy capital to move at digital speed,” he said. “Booz Allen Ventures allows us to actively bridge the gap between opportunity and capability and accelerate the services-to-solutions transformation. As a strategic investor at the intersection of technology and mission, we are uniquely positioned to lead, connect, and convene advanced tech solutions to drive change in government, faster than ever before.”