K2 Global is looking to raise $200 million for a “red, white, and blue"-themed venture fund, according to a person familiar with the plans.
The venture firm, which plans to invest exclusively in AI startups through this fund, is capitalizing on the growing support in politics and Silicon Valley for defense technology and other domestic resilience efforts.
Ozi Amanat, who leads K2 Global, is interested in the need for “mission-critical” startups dedicated to maintaining the safety and security of the US and its allies, according to the person. Amanat declined to comment.
K2 Global has backed AI and defense companies at various stages in the past. It participated in xAI’s $6 billion Series C round in May 2024, and it has invested in OpenAI, according to PitchBook data. It’s also invested in defense tech startups, such as Biofire Group, a Colorado company designing biometric sensor technology to secure firearms.
A growing number of investors are setting up efforts in these areas of tech. In addition to Andreessen Horowitz’s aptly named “American Dynamism” investment theme, a former Point72 Asset Management exec is building out a venture firm backing Ukrainian defense tech startups. Cerberus Capital Management also plans to prioritize startups pursuing US defense contracts with its first dedicated venture fund, and Austin-based 8VC, which has long backed defense tech startups like Anduril, is seeking to raise nearly $1 billion for a new fund, to name just a few.
Fighter aircraft used for national defense
Featured image by Songphol Thesakit/Getty Images
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