Investing in National Security: VCs Funding the Future of Defense

The national security investment landscape has never been more dynamic. From autonomous systems and space to cybersecurity and AI-enabled command and control, venture capital and corporate investors are reshaping what it means to defend the nation at the speed of innovation.

Moderated by Steve Blank, this session brought together four leading voices at the intersection of capital and national security: Chris Moran, Managing Director of Lockheed Martin Ventures; Joe Addiego, Partner at Brave Capital and former Partner at In-Q-Tel; Larsen Jensen, Co-Founder of Harpoon Ventures; and AJ Bertone, Partner at In-Q-Tel. Together, they represent the full spectrum of defense investment—from the strategic venture arm of one of America’s largest prime contractors to traditional venture funds and the intelligence community’s own venture arm.

The conversation explored how investors identify and back technologies with national security potential, how founders can navigate the unique demands of government customers and defense procurement, and what the next wave of critical capability gaps means for investors’ theses.

Key Takeaways

• Defense Tech Has Entered the Mainstream

  A combination of geopolitical competition, advances in AI, and successful companies like Palantir Technologies and Anduril Industries has attracted unprecedented levels of venture capital and talent to the sector.

• Defense-First Startups Are Becoming More Viable

  While defense technology was once largely viewed through a dual-use lens, investors are increasingly backing companies built specifically for national security applications.

• Autonomy and Space Are Major Growth Areas

  The panel highlighted autonomous systems, counter-drone technologies, and space infrastructure as some of the most promising opportunities for the next generation of startups.

• There Has Never Been a Better Time to Build

  The panel emphasized that government demand, available capital, and institutional support for emerging technology have created a unique opportunity for founders to contribute to national security while building impactful companies.