Reindustrialization thesis equals ODIN positioning. Most active US defense/industrial VC. Backed Hadrian, Anduril, Saronic, Apex Space.
- Fund / AUM
- $1.18B Fund II + $44B AUM
- Key partners
- Katherine Boyle, David Ulevitch, Erin Price-Wright (energy)
Named targets
The 30 firms in the ODIN US Series A investor slate (V3.0). Tier 1 carries 7 firms, Tier 2 carries 8, Tier 3 carries 15. Source workbook: ODIN_US_SeriesA_Investor_Targets_DM_V3_0.xlsx.
Tier 1 7
'Physical AI' VC. Backed VulcanForms, Bright Machines, Augury, Cellares. Defines ODIN's category.
- Fund / AUM
- $1.3B (2026) across Fund VI + Early Growth III
- Key partners
- Lior Susan, Seth Winterroth, Jiten Behl, Aidan Madigan-Curtin
#3
Lux Capital
Co-led every Hadrian round. Strongest defense advisor bench in venture (Gen. Tony Thomas, Brett McGurk).
- Fund / AUM
- $1.5B (Fund IX, Jan 2026); $7B AUM
- Key partners
- Josh Wolfe, Brandon Reeves (Hadrian board), Peter Hébert
Co-led Hadrian Series C ($260M). Backs the entire defense industrial base playbook.
- Fund / AUM
- Growth Fund IV ~$6B (Q1 2026); ~$5B new flagship target
- Key partners
- Trae Stephens, Delian Asparouhov, Brian Singerman
Dayna Grayson led Tulip's NEA round. Concentrated industrial-only thesis. Hadrian seed lead.
- Fund / AUM
- $300M (Fund III, Mar 2025); $750M AUM
- Key partners
- Dayna Grayson, Rachel Holt, Camila Felippe
Led Tulip Series C. Direct conflict caveat — Tulip board seat. Most relevant scaling-software pattern match.
- Fund / AUM
- $10B+ flagship; $90B AUM
- Key partners
- Peter Sobiloff (Tulip board), Hilary Gosher
Industrial tech is stated pillar of newest fund. Software-first Series A leader.
- Fund / AUM
- $3.25B (Fund XV, Feb 2026)
- Key partners
- Morad Elhafed, Zak Ewen, Michael Brown
Tier 2 8
#8
8VC
'National capability' companies. Backed Anduril, Saronic, Hadrian, Chaos Industries. Founding NAIA member.
- Fund / AUM
- $5B AUM
- Key partners
- Joe Lonsdale, Drew Oetting, Jake Medwell
Existing Tulip investor (Series A/B). Industrial tech historically via Dayna Grayson.
- Fund / AUM
- $25B AUM
- Key partners
- Tony Florence, Vanessa Larco
Led Saronic Series A ($55M). Concentrated portfolio. 22 active investments.
- Fund / AUM
- Permanent capital model; ~$1B AUM est.
- Key partners
- Raymond Tonsing
#11
Sequoia Capital
Brand value alone justifies pursuit. Anduril co-investor. Pat Grady leads industrial AI.
- Fund / AUM
- $85B AUM (perpetual fund)
- Key partners
- Pat Grady, Bill Coughran, Roelof Botha
Vertical SaaS, AI infrastructure. Recent moves into Saronic and Boom Supersonic.
- Fund / AUM
- $20B+ AUM
- Key partners
- Bryan Offutt, Kent Bennett, Sameer Dholakia
#13
Khosla Ventures
AI, sustainability, industrial tech. Co-led Genesis AI's $105M round. AI-as-business thesis.
- Fund / AUM
- $15B AUM
- Key partners
- Samir Kaul, Kanu Gulati
#14
Accel
Co-led Mind Robotics Series A ($65M, 2026). Sameer Gandhi joined Mind Robotics board.
- Fund / AUM
- $50B+ AUM
- Key partners
- Sameer Gandhi, Rich Wong
#15
General Catalyst
Tech + 'global resilience' (defense). Tractian Series C, Saronic participant.
- Fund / AUM
- ~$10B (Q1 2026 flagship); $25B AUM
- Key partners
- Hemant Taneja, Pranav Singhvi
Tier 3 15
#16
Shield Capital
AI, autonomy, cybersecurity, space. Founded by veteran defense investors.
- Fund / AUM
- ~$300M
- Key partners
- Raj Shah, Philip Bilden
National security tech with commercial dual-use angle. Defense-industrial base specialist.
- Fund / AUM
- $340M (Fund III); $600M AUM
- Key partners
- Mark Spoto, Peggy Spoto, Tim Toler
#18
Voyager Ventures
Energy, industrials, climate tech. Aligned with Bloom proof point.
- Fund / AUM
- $275M (Fund II, closed Jan 2026)
- Key partners
- Sarah Sclarsic, Sierra Peterson
#19
Scout Ventures
National security, dual-use tech. Ex-military operating partners.
- Fund / AUM
- $125M (Fund V, closed Q1 2026)
- Key partners
- Brad Harrison, Steve Cantos
#20
1789 Capital
American Dynamism / national interest. Investor in Hadrian Series C and Saronic.
- Fund / AUM
- $1B+ AUM
- Key partners
- Donald Trump Jr., Omeed Malik, Christopher Buskirk
Software, AI, defense crossover. Hadrian Series C participant. Brad Gerstner active in physical AI.
- Fund / AUM
- ~$15B AUM
- Key partners
- Brad Gerstner, Erik Kriessmann
Enterprise + frontier tech. Saronic Series A participant. $738M deployed in Series A in 2025.
- Fund / AUM
- $25B AUM
- Key partners
- Ravi Mhatre, Arif Janmohamed
Enterprise software + industrial AI. Led Tractian Series C. Better fit at Series B.
- Fund / AUM
- $11B AUM
- Key partners
- Anders Ranum, Casber Wang
#24
Point72 Ventures
Defense, fintech, AI. Saronic Series A participant. Hedge fund-backed.
- Fund / AUM
- Corp parent: $35B AUM
- Key partners
- Sri Chandrasekar, Daniel Gwak (defense)
#25
RTX Ventures
Aerospace and defense supply chain modernisation. Hadrian Series C investor. Customer-channel value.
- Fund / AUM
- Corporate (RTX-funded)
- Key partners
- Daniel Ateya
#26
In-Q-Tel
Tech with national security mission relevance. Opens DoD/IC procurement doors.
- Fund / AUM
- Government-backed perpetual
- Key partners
- George Hoyem (EVP, investments)
Industrial software, deep tech. Network into industrial buyers.
- Fund / AUM
- $1.2B AUM
- Key partners
- Josh Stein, Nicole Glaros
Enterprise + industrial software. Bain Capital industrial network is a meaningful asset.
- Fund / AUM
- $10B AUM
- Key partners
- Ajay Agarwal, Enrique Salem
#29
NGP Capital
Digital-physical convergence; industrial AI. Tractian Series C investor.
- Fund / AUM
- $1B+ AUM
- Key partners
- Bo Ilsoe, Upal Basu
#30
Felicis Ventures
Vertical SaaS + emerging tech. Shield Capital co-investor. Defense crossover.
- Fund / AUM
- $3.6B AUM
- Key partners
- Aydin Senkut, Niki Pezeshki