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Scout Ventures Raises $55M in Fund III Aimed to Further Scale Frontier Technology Companies Led by Veteran Entrepreneurs

Scout, an early backer of unicorns such as and UniteUs, believes its third fund will continue to close the gap in funding to military veteran founders and drive additional non-dilutive capital through government grants

Austin, Texas – WEBWIRE

AUSTIN, TEXAS (September 9, 2021)-- Scout Ventures, a venture capital firm that cultivates frontier and dual-use technologies built by hard-to-access founders, today announced the successful close of its $55M Fund III, backed by high-profile Limited Partners (LPs) including, The New Mexico State Investment Council, Richard Parsons, Auctus Investment Group, David Kassling, and Michael Loeb. Scout’s goal with Fund III is to further amplify its commitment to making the world a better, safer place by investing in frontier and dual-use technologies built by veterans of the military, the intelligence community, and premier research labs.

For the last century, the U.S. government has been the largest global source of innovation, sponsoring several landmark projects like the Internet, nuclear fusion, and wireless communication through defense research and organizations like Defense Advanced Research Projects Agency (DARPA). Unfortunately, most modern research and development goes underutilized because of commercialization challenges presented to the scientists and founders within these communities. Keeping this in mind, Scout found that backing companies with dual-use (defense and commercial) technology is a great way to both leverage government innovation spending, while reducing the risk associated with launching early stage ventures. Unsurprisingly, the founders of these dual-use companies tend to be veterans, prior government service members and researchers. Accordingly, Scout has a strong proprietary network within these communities of hard to access founders, which also tend to be underrepresented.

“Military veterans are underrepresented in the venture asset class due to lack of funding, network, and mentorship,” said Brad Harrison, Managing Partner for Scout Ventures. “Our goal with Scout is to prove that military veterans and intelligence leaders excel at building organizations with technological innovation at their core and this new round of funding will help us get one step closer to that.”

Scout has over 20 years of early-stage investing experience, including 3 previous funds that have had strong early exits, thus proving a full, lifecycle perspective on what is required to effectively nurture and counsel a company as it navigates through various stages of growth. The firm also has an impressive list of portfolio companies, consisting of multiple unicorns, including ID.ME and UniteUS, which was incubated out of Scout offices.

Scout’s roster of notable LPs are committed to the team’s mission-driven foundation that aims to help the U.S. compete in the global innovation race by investing in technologies that have both government and civilian application.

“Our world’s security infrastructure and sustainability rely on the unique skills and experience held by military veterans, intelligence leaders, and founders coming out of National Labs like Los Alamos. Unfortunately, these founders often don’t get the chance to implement those skills and build companies due to lack of access,” said Campbell McComb, Managing Director of Auctus Investment Group. “We recognize that Scout Ventures’ overall mission is to improve the way hard-to-access founders obtain capital and scale businesses. We are proud to support that vision.”

Scout’s commitment to investing in companies built by hard-to-access founders leading the global innovation race through dual-use and frontier technology is embodied in the partners’ background. Managing Partner Bradley C. Harrison, Partner Wes Blackwell, and new Partner Sam Ellis are all service academy graduates who spent years in active service, as operators, and as entrepreneurs founding companies at the forefront of innovation in both government and civilian worlds. Scout leverages its exclusive network of agency, operator, military personnel in order to gain a strategic advantage over other firms who may not have access to the privileged information available to service academy grads and ex-operators.

About Scout
Scout Ventures is an early stage venture capital firm that is making the world a better, safer place by cultivating standout frontier technologies built by hard-to-access founders. 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.

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