One of few VC firms investing primarily in defense technology. Menlo Park + San Diego offices. GP: Larsen Jensen. $125M fund (Dec 2023). 40+ companies. Deep SBIR expertise — helps portfolio from first SBIR contract through DoD scale. Close ties to Naval Base San Diego, Camp Pendleton, SOFWERX. Notable: Shield AI (early), Firestorm Labs, Kodiak ($50M Army project), Astranis, Solugen.

Corporate VC arm of Qualcomm. US, China, India, Israel, Europe, LatAm, Korea. Managing Directors: Quinn Li, Carlos Kokron. Focus: mobile, wireless, AI, IoT, semiconductor. Notable: Cloudflare, Fitbit, SentinelOne, Zoom, Magic Leap, Airspace, Braincorp, Wiliot.