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

THTopher Haddad(Founder)inALAyJay Lasater(Founder)inWTWinston Tri(Founder)inDBDylan Betts(Executive Officer)inAjJay Lasater(Founder)Becca Zukowski(Lead Recruiter)

Co-investorsANAngel Collective Opportunity FundBOBooz Allen VenturesBRBreakthrough Energy VenturesCOCommodity CapitalCUCubit CapitalDNDnx Ventures+25 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

JGJohn Gedmark(CEO)inRMRyan McLinko(CTO)inMike Mancini(Executive Officer)Siamak Ebadi(Lead RF Engineer)inHCHall Chen(RF Payload Design)inShraddha Pandya(Talent Acquisition)

Co-investorsANAndreessen HorowitzATATEL VenturesBOBoxGroupCACantos VenturesCHCherubic VenturesCOCommonweal Ventures+87 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-investorsBEBeyond Earth VenturesFOFontinalis PartnersHYHyperguapMAMana 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)MLMichael LaFramboise(CEO and co-founder)in

BoardPaige Craig(Director)

Co-investors64640 OxfordALAlumni VenturesBLBlue Ivy VenturesDEDecisive PointDRDraper AssociatesFOFounders+7 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

KMKai Matsuka(CTO)inNiccolo Cymbalist(Founder)inNico Cymbalist(CEO)Luca Cymbalist(COO)in

Co-investorsFIFifty YearsFOFounders 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

BBBaiju Bhatt(Founder)in

BoardDaniel Gallagher(Director)

Co-investorsANAndreessen HorowitzBLBlossom CapitalBRBrave CapitalBRBreakthrough Energy VenturesCOConstruct CapitalDRDragon Capital+12 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

EMEric McShane(CEO and co-founder)EGEvan Gardner(CTO and co-founder)in

Co-investorsFIFifty YearsHAHarpoon VenturesSTStartXUNUnion Square Ventures (USV)VOVoyager 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-investorsENEntropy Industrial CapitalHAHarpoon VenturesPOPoint 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

HHHannan Happi(Founder)JAJack Abraham(Founder)inHHHannan H.(Founder)inHPHannan Parvizian(Founder)in

Co-investorsANAndreessen HorowitzATAtomicBABay Bridge Ventures ClimateBLBleu CapitalCLClimate CapitalFEFelicis Ventures+15 more

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

AI & Machine LearningDeep TechHardwareSemiconductorsAustin, US

GVGuillaume Verdon(Founder)inGuillaume Verdon Trevor McCourt(Founder)Trevor McCourt(Founder)

Co-investorsATAtacama VenturesBEBeyond CapitalHOHOF CapitalHYHyperguapINInfinite CapitalJUJulian Capital+12 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)CMChad McCoy(Founder)inIMIan Muceus(Founder)in

BoardTommy Hendrix(Director)AJAaron Jacobson(Director)in

Co-investorsALAlumni VenturesBABackswing VenturesBEBeyond CapitalBOBooz Allen VenturesBVBVVCCACapital Factory+20 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

CLChandler Luzsicza(Founder)in

Co-investorsANAndreessen HorowitzPAPax VenturesSISilent CapitalSISilent Ventures

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

BiotechDeep TechBerkeley, US

DEDaniel Estandian(Founder)inEd Boyden(Founder)JYJosh Yang(Founder)inJoshua Yang(Founder)

BoardCACraig Asher(Director)inJYJimmy Yun(Director)in

Co-investorsARArtis VenturesCICivilization Ventures Management, LlcFOFoundersX VenturesGAGaingelsHAHarpoon VenturesINIn-Q-Tel+10 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

BTBrian Taylor(CEO & Founder)in

BoardJosh Chapman(Director)

Co-investorsALAlumni VenturesBABasecamp FundCUCubit CapitalENEntropy Industrial CapitalKOKonvoy VenturesMIMission One Capital+6 more

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

Deep TechDefense Tech

Co-investorsNKNKECHI IREGBULEM

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

Advanced ManufacturingDeep TechDefense TechHardwareSpace TechLos Angeles, US

BSBen Schleuniger(CEO)inRDRoss Doherty(COO)inHunterNico Montoya(Founding Engineer)

Co-investorsALAlumni VenturesGAGaingelsGOGoAhead VenturesINInitialized CapitalMAMaiora Rebel VenturesOLOlive Tree Capital+16 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)inCRCanon Reeves(Founder)inTod Sacerdoti(Founder)

Co-investorsCOCortado VenturesGAGaingelsMYMyelin VCSHSHORSPSpacecadet VenturesSTStarship Ventures+8 more

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

AI & Machine LearningDigital HealthWellness & Fitness

JPJacob Peters(Founder)inDr Anant VinjamooriKUKevin Unkrich(Founder)inMax Marchione(Founder)in

Co-investorsAIAirTree VenturesAOAOKI LABSARARA NEA Ventures (Brand: Dmz.Xyz)AUAurumBABackwards CapitalFOForerunner Ventures+21 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-investorsREReflexive CapitalSESequoia CapitalHAHarpoon VenturesOLOlive Tree Capital

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

Defense TechHardwareSpace TechCentennial, US

EREven Rogers(Founder)inKZKyle Zakrzewski(Founder)inThomas Nichols(Founder)Daniel Brunski(Founder)inTom Nichols(Founder)

BoardJesse Michaels(Director)

Co-investors64645 VenturesACAccelACACME CapitalCHChampion Hill VenturesCOCortado VenturesCUCubit Capital+18 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-investorsFIFifty YearsHAHarpoon 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)Brett Granberg(Founder)Nini Hamrick(Founder)Nini Moorhead(Founder)

Co-investorsALAloft VCCOCostanoa VenturesFEFelicis VenturesGEGeneral CatalystINIn-Q-TelPOPoint72 Ventures+6 more

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)

BoardLJLarsen Jensenin

Co-investorsPEPelion Venture PartnersALAlumni VenturesDADauntless VenturesHAHarpoon VenturesKIKickstartPOPoint72 Ventures+2 more

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

NNik(Founder)inGCGrace Clemente(Founder)inCMCarlos Más(Founder)inCarlos Mas(Founder)Nik Seetharaman(Founder)

Co-investorsHUHuman CapitalXYXYZ Venture CapitalFOFounders Fund