National security-focused VC firm America's Frontier Fund is raising $315 million for its debut fund
America's Frontier Fund, a national security-focused venture capital firm, is raising up to $315 million for its first fund—dubbed the Frontier Fund—to invest in frontier technologies like AI, biotech, and advanced manufacturing that bolster U.S. geopolitical and economic strength. The fund includes $140 million from private investors and up to $175 million in government-backed loans through a Defense Department initiative, with additional backing from the state of New Mexico. Despite market challenges, this fund is unusually large for a first-time VC and reflects growing interest in defense tech, which saw a surge in investment to $1.4 billion in early 2025. The firm also supports early-stage startups through its Roadrunner Venture Studios and is backed by notable figures such as Eric Schmidt and Peter Thiel. CEO Gilman Louie and cofounder Jordan Blashek bring deep experience from In-Q-Tel and Schmidt Futures, respectively.