Booz Allen launches $100M venture capital fund

• Booz Allen Hamilton (NYSE:BAH) announced the formation of Booz Allen Ventures, LLC, a $100M corporate venture capital arm.
• 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.
• Susan Penfield, Booz Allen’s Chief technology officer said, “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.”
• Booz Allen Ventures will enable Booz Allen (BAH) to further expand its existing Tech Scouting capability to source and recommend technology investments.
• Since the start of 2022, BAH stock up 2.5%.

Comments

[Guraaf]

What can $100M even do these days? A single startup often receives more than this these days in silicon valley.

[JEFFREYJR]

Looks like a good move to build a 'farm team' of firms.