Black Flag — Full Portfolio

Albedo develops a flight-proven platform for Very Low Earth Orbit operations, providing satellite-based insights and connectivity services for national security and critical infrastructure systems.

Advanced ManufacturingClimate TechDeep TechDefense TechSpace TechDenver, US

Topher Haddad(Founder)inAyJay Lasater(Founder)inWinston Tri(Executive Officer, Promoter)inDylan Betts(Executive Officer)in

BoardChristian Garcia(Director)inRaj Shah(Director)in

Co-investorsAngel Collective Opportunity FundBooz Allen VenturesBreakthrough Energy VenturesDnx VenturesJetstreamRepublic Capital (ex Republic Labs)+11 more

Astranis manufactures small, high-powered geosynchronous satellites equipped with advanced digital processing technology for global telecommunications and connectivity services.

Advanced ManufacturingDeep TechHardwareSpace TechSan Francisco, US

John Gedmark(Founder/CEO)inRyan McLinko(Founder/CTO)in

Co-investorsAndreessen HorowitzBoxGroupCantos VenturesCherubic VenturesCommonweal VenturesCrunchFund+38 more

fab2 designs and builds the hardware and software used to manufacture chips, including semiconductor fabs, fabrication tools, and components such as pumps, valves, sensors, and precision actuators.

Deep TechHardwareSemiconductors

Sam ZeloofinJim Keller

Co-investorsBeyond Earth VenturesFontinalis PartnersHyperguapMana Ventures

Aurelius Systems builds Archimedes, an autonomous counter-UAS laser system that combines high-power directed energy, optical sensors, and AI to detect, track, and neutralize aerial drone threats without an operator.

Advanced ManufacturingAI & Machine LearningDefense TechHardwareSan Francisco, US

John Marmaduke(Executive Officer, Director)Michael LaFramboise(CEO and co-founder)in

BoardPaige Craig(Director)

Co-investors640 OxfordBlue Ivy VenturesDecisive PointDraper AssociatesFoundersGeneral Catalyst+4 more

Clippership designs and builds autonomous wind-powered vessels with wing-sails to move cargo across water using wind instead of fuel.

CleantechLogistics & Supply ChainRoboticsRedwood City, US

Kai Matsuka(CTO)inNiccolo Cymbalist(Founder)inNico Cymbalist(CEO)Luca Cymbalist(COO)

Co-investorsFifty YearsFounders Factory

Cowboy Space builds a satellite constellation system that provides power and compute infrastructure in low Earth orbit to serve artificial intelligence applications.

AI & Machine LearningEnergySpace TechSan Carlos, US

Baiju Bhatt(Executive Officer, Director)in

BoardDaniel Gallagher(Director)

Co-investorsAndreessen HorowitzBlossom CapitalBrave CapitalBreakthrough Energy VenturesConstruct CapitalDraper Associates+8 more

eFlow extracts lithium from dilute brines in North America using direct lithium extraction technology, serving the clean energy and electric vehicle supply chain.

CleantechEnergyNew MaterialsSan Bruno, US

Eric McShane(CEO and co-founder)Evan Gardner(CTO and co-founder)in

Co-investorsFifty YearsHarpoon VenturesUnion Square Ventures (USV)Voyager Partners

EraDrive builds an AI-native software and hardware platform for spacecraft autonomy, covering space traffic management, on-orbit logistics, and space situational awareness.

AI & Machine LearningDefense TechSpace Tech

Justin(Co-founder & Chief Technology Officer)in

Co-investorsEntropy Industrial CapitalHarpoon VenturesPoint Nine

Exowatt builds modular clean energy infrastructure systems designed for 24/7 solar power generation, targeting global AI infrastructure and critical industries that require reliable, ultra-low-cost sustainable power.

AI & Machine LearningCleantechEnergyHardwareMiami, US

Hannan Happi(CEO & Co-Founder)Jack Abraham(Co-Founder; Atomic CEO)inHannan H.(Founder)in

Co-investorsAndreessen HorowitzAtomicBay Bridge Ventures ClimateBleu CapitalFelicis VenturesFundamental Ventures+8 more

Extropic builds thermodynamic computing hardware, including thermodynamic sampling units (TSUs) designed to be more energy efficient than GPUs for probabilistic AI workloads.

Deep TechHardwareSemiconductorsAustin, US

Guillaume Verdon(Founder)in

Co-investorsAtacama VenturesBeyond CapitalHOF CapitalHyperguapJulian CapitalKindred Ventures+6 more

Firestorm Labs builds xCell, a containerized 3D-printing factory that produces modular military drones at the point of need.

San Diego, US

Daniel Magy(Executive Officer, Director, Promoter)Chad McCoy(Founder)inIan Muceus(Founder)in

BoardTommy Hendrix(Director)Aaron Jacobson(Director)in

Co-investorsBeyond CapitalBooz Allen VenturesBVVCCapital FactoryDecisive PointFulcrum Venture+13 more

Galadyne develops liquid-propulsion strike and defense platforms for military applications, including the Striker medium-range strike vehicle and Defender missile defense system, along with Outpost ground and ship-based launch infrastructure.

Deep TechDefense Tech

Chandler Luzsicza(Founder)in

Co-investorsAndreessen HorowitzPax VenturesSilent Ventures

Glyphic Biotechnologies develops ProSE™, a high-throughput de novo protein sequencing technology for analyzing proteomes with single-molecule sensitivity.

BiotechDeep TechBerkeley, US

Daniel Estandian(Founder)inEd Boyden(Founder)Josh Yang(Founder)in

BoardCraig Asher(Director)inJimmy Yun(Director)

Co-investorsArtis VenturesCivilization Ventures Management, LlcFoundersX VenturesHarpoon VenturesLongeVCModi Ventures+5 more

Lux Aeterna designs and builds reusable satellites to enable defense, intelligence, commercial, and in-space manufacturing customers to conduct space operations more efficiently.

Deep TechHardwareSpace TechDenver, US

Brian Taylor(CEO & Founder)in

Co-investorsEntropy Industrial CapitalMission One CapitalSoundproof Ventures

Odin Dynamics develops technology aimed at supporting global deterrence and defense.

Deep TechDefense Tech

Orbital Ops develops propulsion systems and related aerospace hardware for airborne vehicles.

Advanced ManufacturingDeep TechDefense TechHardwareSpace TechLos Angeles, US

Ben Schleuniger(Founder)inRoss Doherty(Co-Founder & COO)inHunter

Co-investorsGoAhead VenturesOlive Tree CapitalTRAC (Third Round Analytics Capital)Y CombinatorHarpoon VenturesInitialized Capital+2 more

Pipedream Labs operates an underground automated delivery system that enables rapid pickup of groceries, restaurant orders, and other goods within 15 seconds.

FoodTechLogistics & Supply ChainPropTechAustin, US

Garrett McCurrach(Founder & CEO)inCanon Reeves(Founder)in

Co-investorsCortado VenturesMyelin VCSpacecadet VenturesStarship VenturesTechstarsVibe Capital+5 more

Superpower offers personalized health testing and monitoring for consumers, analyzing 100+ biomarkers across multiple body systems.

AI & Machine LearningDigital HealthWellness & Fitness

Dr Anant Vinjamoori

Co-investorsBackwards CapitalForerunner VenturesLaunch HouseLong Journey VenturesNext Legacy PartnersStarting Line+5 more

Tectonic builds and deploys post-quantum cryptography infrastructure, including NIST-aligned encryption, secure network routing that verifies every hop, and encryption key management across devices and users.

CybersecurityDefense TechQuantum Computing

Co-investorsReflexive CapitalSequoia CapitalHarpoon Ventures

True Anomaly designs and builds hardware and software systems for space security and defense.

Defense TechHardwareSpace TechCentennial, US

Even Rogers(CEO and Co-Founder)inKyle Zakrzewski(Chief Engineer and Co-Founder)inThomas Nichols(Executive Officer, Director)Daniel Brunski(Director)in

BoardJesse Michaels(Director)Austin Bishop(Director)

Co-investors645 VenturesAccelACME CapitalChampion Hill VenturesCortado VenturesEclipse Ventures+14 more

Type III, Inc. designs and manufactures hardware products such as its Rugged Mini Mount, offering rapid prototyping, low-volume production, and specialized hardware builds.

Advanced ManufacturingHardwareHuntington Beach, US

Daniel Moore(Executive Officer, Director)

Co-investorsFifty YearsHarpoon Ventures

Defense technology company building AI software for U.S. national security missions; flagship product is Decrypt.

Palo Alto, US

Brett Carlsen Granberg(Executive Officer, Director)Eleony Shepherd Moorhead(Executive Officer, Director)

Co-investorsAloft VCCostanoa VenturesFelicis VenturesPoint72 VenturesNew NormalShield Capital

Vector develops advanced defense technology solutions, including unmanned systems and integrated warfare capabilities, for the U.S. military and its allies.

Deep TechDefense TechHardwareSalt Lake City, US

Andy Yakulis(CEO and co-founder)Matt Long(Chief Strategy Officer and co-founder)George Matus(CTO and co-founder)

BoardLarsen Jensen

Co-investorsPelionDauntless VenturesHarpoon VenturesPoint72 VenturesKickstartShield Capital

Wraithwatch provides a unified data fabric and control plane for cyber defense teams, letting human and AI defenders query source data directly, profile identities and their blast radius, deploy security controls as code, and auto-correlate threat reports with their environment.

AI & Machine LearningCybersecurityDefense TechAustin, US

Nik(Founder)inGrace Clemente(Founder)inCarlos Más(Founder)in

Co-investorsHuman CapitalXYZ Venture CapitalFounders Fund