PitchBook takes note of VC interest in military and security-related tech
After years of shunning investments in military and security-related technology startups, PitchBook reports that venture capital (VC) firms are raising their profile in the sector as part of the U.S. effort to gain a technological upper hand against new threats from adversaries like China and Russia.
More investors have also flocked to portfolio companies whose satellite, robotics and software tools can do double duty as military and commercial “dual-use” technologies.
PitchBook reports that $7 billion had been invested in VC-backed aerospace and defense companies through mid-October. That puts the sector on track to surpass last year’s record deal value of $7.6 billion.
VCs’ growing appetite for those deals stands in contrast to their slowing pace of investment in most other sectors as the market slogs through a broad-based downturn.
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