Booz Allen Hamilton, a public sector-focused technology consultancy, has launched Booz Allen Ventures, a $100 million venture arm that will invest in commercial technology for federal clients.
The venture capital fund will target investments in start-up companies (seed, series A, series B) in the four main areas of defense, artificial intelligence and machine learning, cybersecurity and security. deep technology.
Booz Allen Ventures will draw on the consultancy’s technology scouting practice – which specializes in “analyzing industry trends, forecasting the future and mapping the innovation ecosystem for our customers in order to put the solutions into practice,” according to the company‘s website. Research from the tech scouting practice has led to investments in several companies, including Latent AI, Synthetaic, and Reveal Technology.
“Our Tech Scouting program gives us unique insight into hyper-growth opportunities. But anticipating opportunities isn’t enough – we need to deploy capital to scale at digital speed,” said Brian MacCarthy, VP of Research. Technology and Enterprise at Booz Allen “Booz Allen Ventures enables us to actively bridge the gap between opportunity and capability and accelerate the transformation of services into solutions. As a strategic investor at the intersection of technology and of the mission, we are in a unique position to lead, connect and summon advanced technology solutions to drive change in government, faster than ever.
In addition to capital, supported companies will have access to the company’s 29,500-person management, engineering and customer teams, as well as potential contracts with Booz Allen customers.
“We are proud and excited to continue our work with top startups to support our US government customers,” said Susan Penfield, Chief Technology Officer of Booz Allen. “Booz Allen Ventures taps into America’s collective ingenuity by investing in software, hardware and high-tech startups that deliver differentiated applications for the federal sphere, providing our customers with access to a supply chain of new generation of breakthroughs critical to national security and the U.S. economy’s vitality.”
Booz Allen recently won a one-time IDIQ contract from NASA with a potential total value of $622.5 million to support the space agency’s computing systems, operational technology systems and mission systems.
The McLean, Va.-based consulting firm also recently had its merger with cybersecurity firm Everwatch blocked by a civil antitrust suit filed by the US Department of Justice.