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Black Flag, an accelerator focused on technologies vital to America’s national security, recently unveiled a new initiative aimed at helping the U.S. maintain its technological edge and out-innovate China in the global tech race.
The initiative — called the Black Flag Investor List — is a database that connects U.S. founders with investors who prioritize national interests. It consolidates American and allied venture capital firms “investing in the national interests of the United States and our allies,” Larsen Jensen, founder of Harpoon Ventures, told FOX Business.
“The Chinese Communist Party has been trying to beat us at our own game that I think the United States has really pioneered — That’s innovation, and that’s venture capital and that’s entrepreneurship,” Jensen told FOX Business. “I think this is our effort to punch back.”
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Larsen Jensen, founder of Harpoon Ventures, is pictured here. Backed by Harpoon Ventures and developed in partnership with In-Q-Tel, Black Flag’s list brings together venture funds supporting sectors such as defense, energy and advanced manufacturing (Black Flag)
Backed by Harpoon Ventures and developed in partnership with In-Q-Tel, Black Flag’s list brings together venture funds supporting sectors such as defense, energy and advanced manufacturing. The resource is already being used by founders, investors and defense leaders, Jensen said.
“Any technology that’s critical for America, such as technology that will give us better access to critical minerals, more energy, or strengthen our military capacities — These investors on the list have all backed historically and are looking to invest in it in the future,” Jensen said.
Black Flag provides capital and support to founders in robotics, defense, aerospace, and other sectors. While the accelerator receives hundreds of startup applications each month, it accepts only about 1%.
To expand its impact, the Black Flag team surveyed over 500 deep-tech entrepreneurs, who nominated more than 150 venture funds as leading early-stage investors aligned with national interests.
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FILE PHOTO: An aerial view of Silicon Valley at dusk in July 2016. Jensen said the initiative represents a broader cultural shift in Silicon Valley, driven by recent global events and renewed attention to national security. (Smith Collection/Gado/Getty Images)
“We canvassed and surveyed over 500 startup founders, and they nominated these investors to be the technology investors that write first checks or are the initial investors into these next generation of innovators with a dream to strengthen our country and our allies,” Jensen said.
Jensen said the initiative represents a broader cultural shift in Silicon Valley, driven by recent global events and renewed attention to national security.
“Years ago, when I moved to Silicon Valley, investing in the national interest was almost an anathema,” Jensen said. It wasn’t popular, it wasn’t front page news … And now there’s almost been this cultural renaissance and awakening to the problem.”
Before launching Harpoon Ventures, Jensen represented Team USA in the 2004 and 2008 Olympic Games and later served as a U.S. Navy SEAL. He said he believes in “putting America first and doing what’s required to support our country and defend our country.”
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FILE PHOTO: People wave flags of China on Oct. 1, 2022 in Hong Kong, China. The list is aimed at helping the U.S. maintain its technological edge and out-innovate China in the global tech race. (Keith Tsuji/Getty Images)
“I think that the American spirit is strong,” Jensen said. “I think it’s even stronger now under the current administration, and I think in many ways, the President’s leadership has set the conditions for our country and our economy to be aspirational again.”
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He added, “It’s imperative that we come together as an investment community to back the founders of the future that are going to make us more prosperous and increase our national security over the long term.”