AE Industrial Partners has teamed up with The Boeing Company to manage and invest in HorizonX Ventures, Boeing’s venture fund. AEI HorizonX will invest in mobility, space and connectivity, industrial tech, and enterprise digital solutions, with an emphasis on sustainability.
BOCA RATON, Fla., Aug. 5, 2021 /PRNewswire/ — AE Industrial Partners, LP (“AEI”), a private equity firm specializing in aerospace, defense & government services, space, power generation, and specialty industrial markets, announced today a partnership with The Boeing Company (“Boeing”) to manage and invest in HorizonX Ventures, Boeing’s venture capital fund. This partnership augments AEI’s capabilities by focusing on early-stage minority equity investments in transformative technologies and businesses that will define the future of AEI’s target markets through the development of new capabilities and an expansion of sustainable aviation.
HorizonX’s current portfolio of more than 40 global investments will become a dedicated investment fund and will be AEI’s ventures platform, operating as AEI HorizonX. The fund will be anchored by new capital commitments from Boeing, AEI and others. Terms of the transaction were not disclosed.
AEI HorizonX will initially consist of HorizonX’s existing portfolio combined with new investments in these major themes: mobility, space and connectivity, industrial tech, and enterprise digital solutions, with a broader emphasis on sustainability. Across these themes, investments that drive sustainability and reduce the carbon footprint of aerospace and adjacent industries will be a point of emphasis.
The AEI HorizonX team will be led by Brian Schettler and will include investing professionals from HorizonX and AEI. The team will manage the existing portfolio, seek new investments, and will provide early-stage companies with a broad set of platform services including access to resources and opportunities within both Boeing and AEI’s portfolio companies. From day one, AEI HorizonX will partner with Boeing and its Applied Innovation team (a part of Boeing’s Enterprise Technology Office), to connect portfolio companies to Boeing’s technical capabilities and strong global market reach across commercial, defense, space and services portfolios. AEI HorizonX will also partner with Boeing on the company’s global accelerator programs to mentor and mature early-stage startups around the world to support innovation across the entire aerospace industry.
“As a specialist investment firm with a focus on aerospace and industrial markets, AEI is constantly monitoring technology innovations that will drive transformational change and reimagine the future of our industry,” said David Rowe, managing partner at AEI. “The AEI HorizonX platform will provide us with a foundation to build out a new investing pillar focused on transformative businesses and technologies critical to the evolution of our target markets and their impact on the environment. We are excited to partner with Boeing to invest in a more sustainable future.”
“The HorizonX team is excited to join AEI and expand the firm’s focus on the innovative startup ecosystem that is addressing the future needs and capabilities of aerospace and sustainability,” said Brian Schettler, incoming partner at AEI and head of AEI HorizonX. “This differentiated partnership and structure between AEI and Boeing will bring unique value to our current and future portfolio. Not only will we be able to source, invest, and promote new early-stage companies but we will support the founders with the scaling of their businesses; businesses that are transforming the mobility of people, goods and data, all while enabling a more sustainable industry.”
Kirkland & Ellis served as legal advisor to AEI. Mayer Brown served as legal advisor to Boeing.
About Boeing HorizonX
HorizonX was formed as the corporate venture capital arm of Boeing in 2017 and has been an active participant in venture capital within its core strategic areas of focus. HorizonX was established to partner capital with the expertise of Boeing’s operating divisions to drive successful business outcomes. Over the past four years, HorizonX has built a global platform with investments in more than 40 startups globally and countless relationships and partnerships across the aerospace, technology and investing ecosystem.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power generation, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment. Learn more at www.aeroequity.com.