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Black Flag, an accelerator focused on technologies critical to U.S. national security, recently unveiled a new initiative aimed at helping the U.S. maintain its technological edge and outsmart China in the global technology race.
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Larsen Jensen, founder of Harpoon Ventures, is pictured here. Backed by Harpoon Ventures and developed in partnership with In-Q-Tel, the Black Flag List brings together venture capital funds supporting sectors such as defense, energy and advanced manufacturing (Black flag)
Backed by Harpoon Ventures and developed in partnership with In-Q-Tel, Black Flag’s roster brings together venture capital funds backing sectors such as defense, energy and advanced manufacturing. The resource is already being used by founders, investors and defense leaders, Jensen said.
“Any technology that is critical to America, such as technology that will give us greater access to critical minerals, more energy, or strengthen our military capabilities – these investors on the list have all historically supported and are looking to invest in it in the future,” Jensen said.
Black Flag provides capital and support to founders in robotics, defense, aerospace and other industries. Although the accelerator receives hundreds of startup applications every month, it only accepts about 1%.
To amplify its impact, the Black Flag team surveyed more than 500 deep-tech entrepreneurs, who nominated more than 150 venture capital funds as leading early-stage investors that align with national interests.
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FILE PHOTO: An aerial view of Silicon Valley at dusk in July 2016. Jensen said the initiative represents a broader cultural shift in Silicon Valley, driven by recent global events and renewed focus on national security. (Smith Collection/Gado/Getty Images)
“We reached out to and surveyed more than 500 startup founders, and they nominated these investors as the technology investors who will write the first checks or be the initial investors in this next generation of innovators with a dream to strengthen our country and our allies,” said Jensen.
Jensen said the initiative represents a broader cultural shift in Silicon Valley, driven by recent global events and renewed focus on national security.
“Years ago, when I moved to Silicon Valley, investing in the national interest was almost anathema,” Jensen said. It wasn’t popular, it wasn’t front-page news… And now there’s almost a cultural renaissance and awareness of the problem.”
Before launching Harpoon Ventures, Jensen represented Team USA at the 2004 and 2008 Olympic Games and later served as a US Navy SEAL. He said he believes in “putting America first and doing what it takes to support our country and defend our country.”
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FILE PHOTO: People waving flags of China on October 1, 2022 in Hong Kong, China. The list is intended to help the US maintain its technological lead and outpace China in the global technology race. (Keith Tsuji/Getty Images)
“I think the American spirit is strong,” Jensen said. “I think it’s even stronger now under the current administration, and I think in many ways the president’s leadership has created the conditions under which our country and our economy can be ambitious again.”
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He added: “It is imperative that we come together as an investment community to support the founding fathers of the future who will make us more prosperous and enhance our national security in the long term.”
