Army Copies CIA Program To Start Its Own VC Fund

from the government-money dept

In-Q-Tel, the CIA's VC fund has received a ton of publicity since it was first founded a few years back. It's also made a few good finds for the CIA, and lately has been one of the more high profile VC firms out there in terms of investing in companies. While other VC firms shied away from actually doing something with their money, the different charter for In-Q-Tel let them keep moving forward, even faster than before. Instead of being designed to make money, the fund is designed to encourage technologies from the private sector that the CIA can use. This success story has caught the attention of the US Army, and they're now setting up their own VC fund to mimic In-Q-Tel. No word on whether or not they'll come up with a "cute" name for their fund as well - or find someone as colorful as Gilman Louie to establish the brand either.

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