Booz Allen Hamilton launches $100M VC fund
Fund will focus on defense, AI, cybersecurity, deep tech
Published
Booz Allen Hamilton Inc. has formed a $100 million corporate venture capital arm, the McLean-based Fortune 500 global management consultancy announced Wednesday.
Named Booz Allen Ventures LLC, the arm will invest in early-stage companies and technologies across four categories: 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,” Booz Allen Chief Technology Officer Susan Penfield said in a statement. “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 help the company expand its tech scouting program, sourcing and recommending tech investments focused on mission-specific applications, according to a news release.
Booz Allen employs approximately 29,500 workers globally, with about 10,000 employed in Virginia. For the 12 months ended March 31, Booz Allen reported revenue of $8.4 billion.
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