Scout Ventures and the State of New Mexico have come together to raise a new fund to make investments in spinoffs from the U.S. Department of Defense and the national labs.
The $55 million fund includes an undisclosed amount from the New Mexico State Investment Council, Auctus Investment Group and others, according to this blogpost from the venture capital firm. The fund is focusing on ventures coming from veterans of the military, the intelligence community and government research labs including Los Alamos and Sandia National Labs.
With the focus on technologies with uses in defense and the commercial market, New York City-based Scout Ventures can leverage government spending “reducing the risk” with early stage start-ups. New Mexico Inno has some additional details here.