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ManTech expands tech horizons through partnership with Marque Ventures

ManTech expands tech horizons through partnership with Marque Ventures

 


There is some truth to this perception: venture capital activity across the defense technology ecosystem remains robust relative to overall venture capital activity in the technology sector.

Pitchbook, a database and news service focused on private capital, estimates that VC investors will invest $35.8 billion in startups across 800 deals in 2022. VC backers invested $34.9 billion across 627 deals in 2023. So far in 2024, $9.1 billion has been invested across 228 deals.

Compare this to Pitchbook's not-so-great summary of the 2023 tech industry environment in general.

So it makes sense for federal technology integrators to get involved in the effort, as ManTech has done through a new partnership with national security-focused firm Marque Ventures.

The two companies will work together to identify emerging national security technologies and introduce new providers, including start-ups, into ManTechs' delivery ecosystem.

“One of the things they do for us is provide a second perspective and an early bet on some of the technologies that have the opportunity to cable,” said Eric Brown, ManTech's chief innovation officer. “We're looking at this broadly and trying to be a go-between for emerging technologies to be delivered quickly and at scale for our clients, particularly around our focus areas of practice.”

Its list of practices includes data, artificial intelligence, cybersecurity, intelligent systems engineering, mission IT and cloud computing.

Founded in 2022, Marque focuses much of its investments on companies developing deep tech innovations that have potential applications in government, particularly in the national security sector.

Deep tech refers to solutions based on substantial scientific or engineering challenges. These creations require extensive research and development and significant capital investment before they can be successfully commercialized and scaled.

Government agencies need to ensure that the technology they purchase is scalable, yet often face challenges in making that happen.

Brown said ManTech's innovation and capabilities organization will play a key role in the partnership, with the group able to influence design principles around the technology. Portability, scalability and security are three themes Brown cited as ManTech's priorities when considering technology for Marque's portfolio companies.

Discussions about investment and technology in government naturally turn to the so-called “valley of death” – the procurement gap that prevents new prototypes from becoming budget-recorded funded programs.

Very often, and for a variety of reasons, this coincides with the second valley of death, the stage when a startup needs more funding to complete the development of its core product. A startup crosses the valley of death when it achieves enough sustainable cash flow to continue operations.

Brown said the funding profile of ManTech's government clients makes technology transition inherently difficult because the color of the funding often prevents it.

“We are looking for non-dilutive sources of capital to drive and support specific investments and port codes in partnership with Marque,” Brown said. “This is the same thing Silicon Valley is facing, revenue stream to revenue stream. Having the right partner who deeply understands the mission is key to creating this happy relationship.”

Sources

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2/ https://www.washingtontechnology.com/companies/2024/07/mantech-looks-expand-its-tech-view-through-marque-ventures-partnership/398292/

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