The $1 billion startup investment arm said the expansion follows April’s increase in fund capacity from $400 million and is aimed at backing defense technologies across British and European markets.
Lockheed Martin is expanding its venture investing footprint in Europe by opening a London office for Lockheed Martin Ventures and targeting at least $100 million of investment in the United Kingdom and Europe. The move comes after the company raised the fund’s capacity in April from $400 million to $1 billion, the largest increase in the venture arm’s history. Lockheed Martin said the new European operation is intended to invest earlier in the startup lifecycle, support technical interoperability (systems working together) with existing platforms, and help strengthen the transatlantic defense industrial base. The company said European customers are increasingly seeking sovereign capabilities (domestically controlled defense capacity), and added that the investments should also bolster supply-chain resilience. Founded in 2007 with $100 million of initial funding, Lockheed Martin Ventures says it has invested more than $500 million in more than 120 companies to date, including several in Europe, and that 25 companies were added to the portfolio over the past two years.