VC in DC

DeVenCI Field Trip to Norfolk

We took a field trip to see the Navy experimental ship, Stiletto, yesterday in Norfolk, VA.  This is a real interesting vehicle and clearly built for speed.  It has been used in a variety of ways by the Navy and Coast Guard.   Apparently, it chased down some drug runners who tried to elude it by running at 42 knots over shallow water and coral reefs.   Ultimately, though, that speed wasn't fast enough to out run the Stiletto.  Great crew and dedicated professionals surround this experimental craft.   And it was one hell of a ride.  

Here's the Wikipedia entry on Stiletto.

Stiletto 

And a few pictures:

 

DeVenCI Consultant Team Refreshed

The DeVenCI consultant team members serve two year terms so the group was recently refreshed as some of us re-upped for another two year term while some new folks joined the team.   Another change is while we previously worked as two sub-groups, IT and non-IT, we will now work as a single unit.

The current team list follows:

Lee Buchanan -Paladin Capital Partners

Image via CrunchBase

Asheem Chandna - Greylock Partners

Image via CrunchBase

Kevin Fong -GSR Ventures

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Wilber James - Rockport Capital

Morgan Jones -  Battery Ventures

Ravi Mhatre - Lightspeed Venture Partners

Jeb Miller - JAFCO Ventures

Roger Novak  -Novak Biddle Venture Partners

Geoff Oblak - Ascent Venture Partners

Enrico Petrillo- Excel Medical Ventures

Image via CrunchBase

Don Rainey  - Grotech Ventures

Morgan Rodd  -ArrowPath Venture Partners

Ted Schlein  - Kleiner Perkins Caufield & Byers

Kip Sheeline -Levensohn Venture Partners

Image via CrunchBase

Robert Simon - Alta Partners.

Here is the DoD press release:Press Release

And the DeVenCI website:  DeVenCI

An Overview of the Defense Venture Catalyst Initiative -

DeVenCI Field Trip

During a recent DeVenCI session in San Diego with the US Navy, we took a field trip to a US Marine training facility.   As I have written previously, I am fortunate to volunteer with the DeVenCI program (Defense Venture Capital Initiative) which pairs a dozen VC's to help the DoD fast track innovative technologies into their portfolio.    The program has us meet 3 times a year to review specific unmet, Department of Defense technology needs -- wireless, storage, networking, etc. and then we look within our portfolio as well as everywhere else to surface technologies to meet these needs for the DoD.

Our last meeting included a visit to a Marine Urban Combat training facility.   The facility includes mixed media, live actors, piped in smells (camel dung, diesel and other aromas) and a fair amount of pyrotechnics.   We watched a small unit's training session. Here I am with some of the actors. 

  

You can see us holding our protective face masks which are necessary as the Marines use kind of a super paint ball bullet in this facility.

It is truly impressive to speak with the young Marines as they are remarkable people.  One can't help be proud of them and awed by the commitment and professionalism.

Government driven technology innovation

Image via Wikipedia

I spoke today on a panel at a conference for 500 firms in the business of inventing technology for primarily government driven applications with government financial assistance.  These companies were distinguished by their participation in the SBIR program of government research grants.

The issue for most of these companies is whether commercial applications and, perhaps, private institutional funding are realistic future paths.   While we have a lot of these companies in the DC area, the attendees were from across the country.   

It is striking that there's is a wealth of great technology in these companies and an abensce of commercial connections.   I would suspect that a great number of profitable joint venture possibilities are available for companies that take the time to research the Small Business Innovation Research company universe.

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DeVenCI Selects Venture Capital Consultants

Image via Wikipedia

The Defense Venture Catalyst Initiative (DeVenCI) has announced its selection of eleven venture capitalists to serve as independent emerging technology consultants for the Department of Defense (DoD). 

These eleven individuals, who represent a cross section of prestigious venture capital investment firms, have agreed to volunteer their time and energy to help the DoD identify innovative private sector companies with emerging technologies relevant to DoD needs in research, development and acquisition. Companies identified by the consultants typically will have little familiarity with the DoD acquisition process, and usually will be unfamiliar to DoD researchers, developers, and acquisition personnel.

The selected consultants are:

Mr. Tom Banahan (Lehman Brothers Venture Partners)

Dr. James Barrett (New Enterprise Associates)

Mr. Kevin Fong (Mayfield Fund)

Mr. Wilber James (RockPort Capital Partners)

Mr. Mark Kvamme (Sequoia Capital)

Mr. Jeb Miller (ComVentures)

Mr. Roger Novak (Novak Biddle Venture Partners)

Mr. Don Rainey (Intersouth Partners)

Mr. Morgan Rodd (Arrowpath Venture Partners)

Mr. Ted Schlein (Kleiner Perkins Caufield & Byers)

Mr. Robert Simon (Alta Partners)

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