Lockheed Martin [LMT] on Wednesday said its venture capital arm has invested in an Australian capital firm that invests in high-technology companies.
Lockheed Martin Ventures was part of a $132 million financing round in Main Sequence Ventures, which so far has made 12 venture capital investments in nine companies throughout Australia.
For Lockheed Martin Ventures, this is its first international fund investment. The company didn’t disclose the amount of its investment, but a spokesman said “we are framing this as a significant investment.”
Lockheed Martin’s participation in the financing gives it access to leading research and development in Australia, which will allow it to “leverage technologies innovative, cutting-edge technologies in areas of interest to our customers,” the spokesman said.
“Our investment in Main Sequence Ventures is part of Lockheed Martin’s continued commitment to enabling the growth and development of Australian technologists and entrepreneurs,” Chris Moran, executive director and general manager of Lockheed Martin Ventures, said in a statement. “Through this partnership, we are excited to support Australian companies researching and developing transformative technologies that will shape our future.”
Main Sequence Ventures is a new firm that closed its first funding round, valued at $100 million, last September with founding investors Commonwealth Scientific and Industrial Research Organization, which is an Australian government corporate entity that serves as an innovation catalyst, and the Australian government.
In the $132 million in new backing, in addition to Lockheed Martin, Main Sequence Ventures received investments from Australia industry fund Hostplus, the Singapore government’s fund Temasek, and the Univ. of Melbourne.
Main Sequence Ventures’ portfolio includes companies involved in autonomous vehicles, quantum commuters, satellite communications, agriculture, artificial intelligence and communications for remote healthcare, and gene therapy. It has invested in Myriota, an Australian company developing low cost satellite Internet of Things connectivity. Boeing’s [BA] HorizonX venture arm has also invested in Myriota.