Scout Ventures Announces Record-Breaking $94 Million Close of Fund IV

AUSTIN, Texas, May 1, 2024 /PRNewswire/ -- Scout Ventures, a leading venture capital firm focused on frontier and dual-use technologies built by hard-to-access founders, announced the successful closing of Fund IV at $94 million.

"We are humbled by the overwhelming support we've received for Fund IV," said Brad Harrison, Managing Partner at Scout Ventures. "The continued trust from our existing investors, like the New Mexico State Investment Council, is invaluable. We're also excited to welcome a distinguished group of new partners to the Scout family, including J.P. Morgan Asset Management, Vanderbilt University Endowment, USAA, and many others."

This strong closing signifies the growing confidence in Scout Ventures' unique investment approach. The firm focuses on identifying and backing innovative companies developing frontier and dual-use critical technologies – technologies with both commercial and national security applications.

"Scout Ventures' commitment to entrepreneurs, often veterans, building early-stage, high-impact companies aligns with our investment strategy," said Jamie Kramer, Chair of Spark Investment Committee at J.P. Morgan Asset Management. "We are confident that Fund IV will continue to meet our objectives and foster groundbreaking advancements in frontier technologies while supporting the veteran community."

Fund IV has already demonstrated strong momentum, with nine portfolio investments with early positive performance and valuation markups. Additionally, Scout recently sold Fund III portfolio company Tomahawk Robotics to AeroVironment, resulting in a cash distribution to our Fund III Limited Partners.

"Scout Ventures' investment in our company has been instrumental in accelerating our development of our high-altitude solar powered aircraft ," said James Thomas, Founder/CEO of Radical Aero. "Their deep understanding of dual-use, frontier technology and their commitment to building long-standing partnerships with their portfolio companies make them a truly valuable capital partner."

"We are excited to leverage this new capital to continue fueling the growth of exceptional entrepreneurs who are tackling the world's most pressing challenges," concluded Harrison.

About Scout Ventures

Scout's team consists of venture professionals with deep domain expertise in a variety of sectors. Scout consistently assists entrepreneurs with business development, hiring, sales strategies, and more. Scout focuses on the sectors where the team's experience helps companies grow: Frontier Technologies (AI & Data Science, Robotics, Drones, Autonomous Mobility, AR/VR, Advanced Materials, Physical and Cybersecurity, Quantum Computing, Space) and Enterprise SaaS.

Contact:

Cody Huggins
Head of Capital Formation

[email protected]

SOURCE Scout Ventures