New Lockheed Office Seeks Partnerships With Mid-Size Firmsa

Lockheed Martin has stood up an internal cell to create partnerships with mid-size defense, commercial, and space firms, the company’s CEO said Tuesday. It’s the latest move by the company to better position its business to deliver militarized commercial technology to the Pentagon.

Called LM Evolve, the group is meant to complement Lockheed’s venture capital arm, which primarily invests in startups. Earlier this year, LM Ventures doubled its fund from $200 million to $400 million. CFO Jay Malave will oversee LM Evolve, which “is just literally getting off the ground,” CEO Jim Taiclet said.