Lockheed Martin Ventures, the venture capital arm of the world's largest defense contractor, last year invested in nine new companies and made more than 30 follow-on investments.
Chris Moran, who heads the organization, told Inside Defense last week the unit also added two new employees, one in the Bethesda, MD, office and one in Palo Alto, CA.
He said several of the organization's 2019 investments are now contributing to Lockheed efforts. For instance, he said, Lockheed Martin Ventures last year invested in Tempo Automation, which specializes in very fast-turn printed circuit board assemblies.
That has "turned out to be just game-changing on some of the programs we're working on," Moran said, pointing to F-22 upgrades as one beneficiary.
"Another company that has got tremendous traction was a company called 3D Glass Solutions," he said. "I believe every business area [within Lockheed] is now working with them."
Moran also said Lockheed Martin Ventures has made investments in a fund in Australia and one in the United Kingdom.
Working with a fund, rather than directly with companies, is allowing the organization to get to know the investment space, he said.
"We're getting direct access to the companies they invest in as well," Moran added. "We haven't ruled out the ability to do direct investments."
Moran said that as the venture organization gets more knowledgeable about the markets in those countries, he can decide whether to hire an employee for the region.
If Lockheed Martin Ventures thinks it could make three to five deals a year there, it could warrant putting a person on the ground, he added.
"At this point, we don't know those spaces well enough," Moran said. "We're learning them."
He also said Lockheed Martin Ventures has expanded what it's looking for to include digital transformation capabilities, high-performance electronics and supply chain security, among other areas.