JPMorgan deploys $5 billion into startups in first year of security initiative

CNBC · 19 hours ago
JPMorgan deploys $5 billion into startups in first year of security initiative
  • JPMorgan Chase has made $5 billion in startup investments in the first year of its U.S. security and resiliency initiative, a faster pace than expected.
  • The bank took direct stakes in defense-related startups Hadrian, which builds automated factories, and Castelion, which develops low-cost hypersonic missiles.
  • JPMorgan financed and facilitated more than $230 billion in transactions in the initiative's first year, part of a goal of supporting $1.5 trillion in activity over a decade.

Quotes

“Our approach is to find generational companies and partner with them for the long term”— Todd Combs
“He's done a great job and put us in some really interesting companies”— Doug Petno

Sources