The Army Venture Capital Corporation (AVCC) is the venture capital arm of the United States Army.
| Company type | Venture capital firm |
|---|---|
| Industry | Defense |
Key people | Jake Chapman (Managing Director) |
| Website | https://www.army.vc/ |
History
editThe AVCC was established by the U.S. Congress in 2002 with an initial funding allocation of twenty-five million dollars.[1] The organization has achieved limited success in accomplishing it's stated goals since its founding.[2]
See also
edit- Defense Innovation Unit – similar organization launched to assist the Department of Defense in leveraging commercial markets
- In-Q-Tel – similar organization chartered through the CIA
References
edit- ^ Department of Defense and Emergency Supplemental Appropriations for Recovery from and Response to Terrorist Attacks on the United States Act (Public Law 107-117). 107th United States Congress. September 30, 2002.
- ^ Barnett, Jackson (2022-02-11). "The Army is trying to jump-start its venture capital arm". FedScoop. Scoop News Group. Retrieved 2022-04-08.
The Army Venture Capital Corporation's (AVCC) first iteration was a failure, investing in companies that deflated during the 2008 recession and not building the goodwill it needed in the valley to be a trusted partner. Or a least, that's Chapman's diagnosis and exactly what he wants to avoid.
Further reading
edit- Parmentola, John (2003-11-01). "Army Venture Capital Initiative" (PDF). Army AS&T. U.S. Army Acquisition Support Center. Retrieved 2022-04-08.
- RAND Arroyo Center (2002). Seeking Nontraditional Approaches to Collaborating and Partnering with Industry (PDF) (Report). RAND Corporation. Archived (PDF) from the original on July 10, 2020. Retrieved 2022-04-08.
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