Northern Virginia VC Marlinspike to raise $70M for AI and defense investment

Arlington-based venture capital firm Marlinspike is on track to raise $70 million for its new Disruptive Technology Fund II, targeting early-stage defense tech companies at the intersection of AI and manufacturing. Led by CEO Neil Keegan, Marlinspike aims to make twenty to twenty-four strategic investments, from $250,000 up to $10 million, over the next four years, with a focus on game-changing technologies, such as microturbo engines for autonomous drones, as reported by the Washington Business Journal.

Marlinspike, already halfway to its fundraising goal—with more than $31 million from sixty-six investors—plans to take significant equity positions in select startups. Keegan emphasizes a concentrated approach: “We’re not afraid to take a 15 percent or 20 percent position in one particular name,” he said, underscoring confidence in portfolio leaders to deliver strong returns.

The timing aligns with a broader investment shift toward defense technologies; this year alone, the trend has accelerated: Booz Allen Hamilton announced it would triple its venture fund for defense and national security firms to $300 million, and Arlington logistics startup Rune Technologies secured a $24 million Series A round led by Andreessen Horowitz.

Unlike some industry peers, Keegan welcomes growing competition in the sector. “We do need more private capital in the space,” he said, noting an influx of both well-capitalized generalist funds and nimble specialists targeting subfields such as cyber and space technology.