Author: Jamie Bennet|| Date Published: June 26, 2023
Lockheed Martin‘s (NYSE: LMT) venture capital arm has been expanding its investment scope in the past few years to help small businesses keep up with the volatility of the government contracting industry, Washington Business Journal reported Friday.
Chris Moran, vice president and general manager of Lockheed Martin Ventures, told the Washington Business Journal in an interview his organization increased the number of its investment managers to handle each of Lockheed’s business segments, and target 12 to 15 deals a year.
While big defense contractors are prepared for sharp ups and downs in federal contracting year after year, some small businesses might not survive the changing market trends, according to Moran.
“Small companies need some special handling. And it’s going to take that special handling to come from both their investors with a high degree of patience and with the government with a bit more, let’s say, forward-thinking procurement policies to make that happen,” he added.
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