- Booz Allen Ventures will invest in early stage companies
- Sectors of interest include defense, AI, cybersecurity and deep tech
- Management consulting firm had revenue of $8.4 billion in Q1
Booz Allen Hamilton, a management and information technology consulting firm, has launched a $100 million corporate venture capital fund.
Booz Allen Ventures will invest in early-stage companies and technologies within the defense, artificial intelligence/machine learning, cybersecurity, and deep technology sectors.
“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 chief technology officer Susan Penfield said in a statement.
Booz Allen Ventures will enable Booz Allen to further expand its existing tech scouting capability to source and recommend technology investments, the statement said. Recent investments include Latent AI, Synthetaic and Reveal Technology.
“Booz Allen Ventures allows us to actively bridge the gap between opportunity and capability and accelerate the services-to-solutions transformation,” Booz Allen vice president of tech scouting Brian MacCarthy said.
With global headquarters in McLean, Virginia, Booz Allen Hamilton employed nearly 29,300 people and had a revenue of $8.4 billion as of March 31, 2022.