Deep Tech

Venture capital opportunities in defense technology are proliferating but they pose challenges, says Mercer’s Garvan McCarthy.

The $60bn fund and Roadrunner Venture Studios are pairing up with America’s Frontier Fund, Crosslink Capital, Khosla Ventures and others to build a robust VC ecosystem rooted in New Mexico.

The new fund, which is 25% larger than its debut, is backed by Isomer Capital, Exor NV's Lingotto, Fondazione Compagnia di San Paolo, Grinnell College's Endowment, RSJ Investments and Aldea Ventures, Lunar says.

'Investors in the fund will have the option to earmark a portion of their investment to be held in an interest-bearing account that will serve as an ongoing source of revenue to cover management fees and carried interest,' says managing partner Michelle Urben.

After nearly two decades in Apollo’s private equity division, Justin Stevens brings his relationships with debt and other structured finance providers to bear at Overlap Holdings.

The deep tech investor, which now has four general partners, launched fundraising in December for its fourth flagship fund, which has a target of $350m.

Overlap Holdings, a tech-focused firm founded by Justin Stevens, a former senior partner at Apollo Global Management, has closed its inaugural fund at $33 million.

The Los Angeles-based firm is currently marketing its sixth fund, which is targeting $85 million.

AI, robots, secondaries, climate, women-led funds and data centers were the topics of most interest to Venture Capital Journal readers in 2024.