Lockheed Martin Ventures opens London office with $100m UK and Europe fund

Lockheed Martin Ventures has chosen London for its first office outside the United States, with plans to invest at least $100 million in UK and European defence technology companies.

The move expands the reach of Lockheed Martin’s corporate venture capital arm, which has recently increased its investment capacity from $400 million to $1 billion.

Lockheed Martin said the London office will help the company engage earlier with start-ups across the UK and Europe, supporting technologies that can strengthen national security capabilities, improve interoperability and reinforce the transatlantic defence industrial base.

Lockheed Martin targets UK and European defence start-ups

The company said Lockheed Martin Ventures Europe will focus on accelerating the insertion of emerging technologies into defence programmes.

Chris Moran, vice-president and general manager of Lockheed Martin Ventures, said: “We are reaching even deeper into the investing ecosystem, meeting our potential partners where they are.

“Our presence will help us seize opportunities for investing earlier in the startup lifecycle, ensure technical interoperability with existing platforms, and better support our allied customers.”

The decision comes amid growing venture capital interest in defence and dual-use technologies across the UK and Europe, as governments and industry look to accelerate the development of sovereign and allied capabilities.

Strengthening the transatlantic defence industrial base

Lockheed Martin said European customers are increasingly seeking sovereign capabilities and that its venture investments will support the development of technologies aligned with current and future mission needs.

Dan Tenney, senior vice-president of global business development and strategy at Lockheed Martin, said: “We are looking to invest in technologies that complement the company’s national security capabilities and help advance solutions to meet current and future customer mission needs, while further strengthening the transatlantic defence industrial base.”

The company said Lockheed Martin Ventures has already invested in several European companies, with more deals expected to close soon.

Founded in 2007, Lockheed Martin Ventures has invested more than $500 million in more than 120 companies. Over the past two years, it has added 25 companies to its portfolio, and Lockheed Martin said 60 companies backed by the fund have matured into suppliers.