Scout Ventures locks in $125M for dual-use tech
Betting on the builders keeping threats at bay
Defense and deep tech don't often share a cap table, but Scout Ventures has made that crossover its entire identity.
What's happening: The Austin-based VC firm closed its oversubscribed Fund V at $125 million, targeting early-stage startups building technologies that serve both commercial markets and national security missions. Focus areas span AI, autonomous systems, space infrastructure, cybersecurity, quantum technologies, and advanced power systems.
Numbers don't lie: Fund V arrived oversubscribed, building on a portfolio track record that includes AeroVironment's acquisition of Tomahawk Robotics, Voyager Technologies' 2025 IPO, and ID.me achieving unicorn status.
Who's in: Founder and Managing Partner Brad Harrison is leading the charge, joined by Partner Cody Huggins. The raise brought in both returning institutional investors and new partners, with Havoc AI CEO Paul Lwin among portfolio voices underscoring Scout's value beyond capital.
Looking ahead: Scout's thesis is that deterrence is the product. Fund V doubles down on veteran and military-affiliated founders who understand defense problems firsthand, targeting capabilities from AI-enabled command systems to GPS-denied navigation and electronic warfare. As the line between commercial tech and national security continues to blur, Scout is positioning itself as the firm that's been living at that intersection all along.