JPMorgan Chase deploys $5 billion into US security startup investments
JPMorgan Chase just deployed $5 billion into its US security and resiliency initiative in startup investments during the first year, backing companies like Hadrian (think: automated aerospace factories) and Castelion (low-cost hypersonic missiles).
It's all part of a bigger plan to deploy $10 billion into startups over a decade, aiming to boost industries key to national security.
JPMorgan pushes $230B toward $1.5T goal
This move isn't just about money: JPMorgan has also helped push over $230 billion in related deals as part of a massive 10-year, $1.5 trillion goal.
Led by Doug Petno, Todd Combs, and Jay Horine, the initiative covers everything from tech to pharma, focusing on making US supply chains stronger during tense global times.
By working closely with the Defense and Commerce departments, JPMorgan is looking beyond traditional banking to help shore up critical national interests for the long haul.