Lockheed Doubles Venture Investing Aimed at Aerospace, Defense

Lockheed Martin Corp. is doubling its venture arm in August as a flood of investment dollars has upended the aerospace and defense startup scene in recent years.

Lockheed Martin Ventures will grow from $200 million to $400 million, with an eye for companies developing next generation technology, the company said Tuesday. Since 2017, the fund has sat at $200 million.

In addition to boosting the number of annual venture deals, Lockheed also plans to increase funding for additional collaborations with the firms in their portfolio, providing technological expertise to help navigate the complex world of government contracting.

“Once you have ...