Scout Ventures
Technology Focus Areas (Top 4): Quantum, Autonomy, AI, Materials
Series: Seed & Series A
Locations: New York ,NY
Scout Ventures: Dual-Use Defense Tech VC
Building on Military Foundations
Scout Ventures started in 2012 (originally as BHV Entrepreneurship) with a unique thesis: back tech founders with military, intelligence, or national lab backgrounds who are tackling the hardest technical challenges. Over more than a decade, this Austin-based firm has evolved into a leading dual-use technology investor, bridging commercial innovation with national security applications.
Fund Growth and Investment Strategy
Scout has raised four funds since its founding, showing steady growth and investor confidence. Fund III closed at $55 million in 2021, followed by their largest fund to date - Fund IV at $94 million in 2024. In total, Scout has raised well over $150 million across all vehicles, backed by institutional LPs including J.P. Morgan, Vanderbilt, USAA, and strategic investors like the New Mexico State Investment Council.
The firm focuses on seed-stage investments, typically leading seed rounds with $2-5 million checks and following on through Series B. Their investment approach has evolved from initially writing smaller $0.5-1 million checks with additional reserves to now leading larger rounds as the primary institutional investor.
What makes Scout's strategy particularly effective is their ability to leverage government R&D funding alongside venture capital. Brad Harrison notes that Scout typically secures $3 of non-dilutive grant and contract funding for each $1 they invest through programs like SBIR, STTR, and AFWERX. This synergy allows portfolio companies to grow faster with less dilution - a significant advantage in capital-intensive deep tech sectors.
The Team Behind the Mission
Brad Harrison leads Scout as Founder and Managing Partner, bringing the credibility that comes from being a West Point graduate and former Army Ranger. After years as an angel investor, Harrison founded Scout with a clear vision: veterans and researchers from national labs often have unique insights into solving complex technical problems that others might overlook.
Cody Huggins serves as Partner, combining military service (West Point '14, six years as Infantry/Ranger instructor) with strong finance experience. He led finance at FTC Solar through its $258 million IPO and spent time at JPMorgan Chase. At Scout, he focuses on operations and deal execution, bringing the financial rigor needed to evaluate complex dual-use opportunities.
Zach Beecher joined as Partner in 2025, adding significant defense innovation experience. An ex-82nd Airborne paratrooper with deployment experience in Iraq, Beecher was previously Partner and Head of Growth at America's Frontier Fund and held roles at defense-focused VC firm C5 Accelerate. He holds degrees from Princeton and Cambridge, combining academic credentials with operational military experience.
The team is rounded out by Operating Partner Ian Folau (ex-Marine with cyber and robotics expertise), Associate Nate George, and Head of Finance Greg Kaparski. This blend of military experience, technical expertise, and financial acumen gives Scout unique credibility with both founders and government customers.
Building Thought Leadership
Scout maintains an active media presence that goes beyond typical VC marketing. The firm produces substantial original content, including Brad Harrison's blog posts on dual-use investing and regular podcast appearances. Harrison has appeared on shows like "Professionally Offensive" discussing how success comes when you stop focusing solely on money.
Zach Beecher has emerged as a particularly strong voice in defense innovation policy. He co-authored pieces in DefenseScoop advocating for SBIR and STTR modernization and published analysis in War on the Rocks about refactoring the defense industrial base. His appearance on the "Building the Base" podcast discussing "innovation at the speed of battle" demonstrates Scout's commitment to advancing policy conversations around defense tech.
The firm also partners with others in the ecosystem - for example, collaborating with Corps Capital to host General Bruce Rainey from Army Futures Command on defense innovation podcasts. Scout's leaders regularly speak at major conferences like AUSA and SXSW, positioning themselves as thought leaders in the dual-use technology space.
Portfolio Success Stories
Scout's portfolio demonstrates the power of their veteran-founder thesis across both commercial and defense applications:
ID.me represents one of Scout's biggest wins from Fund II. The identity verification company has scaled to over 66 million users and reached a $1.5 billion valuation, serving 29 state governments and multiple federal agencies. This success validates Scout's thesis that founders with security backgrounds can build scalable identity solutions.
Commercial wins from earlier funds include Bespoke Post, which grew to over 300,000 subscribers in the men's lifestyle subscription box market, and LeagueApps, which raised over $30 million across multiple rounds to expand its youth sports software platform before securing growth investment from Accel-KKR.
Recent dual-use exits show Scout's evolving focus. Tomahawk Robotics, which developed solar-powered UAVs, was acquired by AeroVironment in 2024, returning cash to Fund III LPs. Agnostiq, a quantum AI company, was acquired by DataRobot in February 2025, integrating its quantum algorithms into a leading AI platform.
Public market success includes Voyager Technologies, which closed its IPO in 2024, enabling expansion of its inter-satellite networking capabilities. This space communications company exemplifies the dual-use opportunities Scout targets - critical for both commercial satellite constellations and defense space missions.
Current portfolio companies like UbiQD (quantum dots), De-Ice (aviation safety), Valarian (cybersecurity for defense robotics), and Tern.ai (shared autonomy) are advancing through DoD pilot programs while building commercial traction.
The Scout Advantage
What sets Scout apart is their systematic approach to supporting dual-use companies. The firm's veteran network provides unique access to government customers and decision-makers who understand both the technical challenges and procurement processes. This isn't just about introductions - it's about credible validation from people who've actually used similar technologies in operational environments.
Portfolio company testimonials highlight Scout's hands-on approach. Radical Aero's CEO says Scout's investment "has been instrumental in accelerating our development," emphasizing that they're "a truly valuable capital partner" beyond just providing funding.
The government funding multiplier effect is particularly powerful. By helping companies navigate SBIR, STTR, and other non-dilutive funding sources, Scout effectively triples the capital available to their portfolio companies while maintaining ownership percentages. This approach is especially valuable in deep tech sectors where development timelines are long and capital requirements are high.
Looking Forward
Scout Ventures has built a sustainable model around a simple insight: veterans and national lab researchers often see technical problems differently than traditional entrepreneurs, and that perspective can lead to breakthrough solutions with both commercial and defense applications.
With over $150 million raised across four funds and a track record spanning more than a decade, Scout has proven that dual-use investing can generate strong returns while serving national security interests. Their combination of military credibility, technical expertise, and systematic approach to leveraging government funding creates a unique value proposition for founders working on frontier technologies.
As the lines between commercial and defense technology continue to blur, Scout's positioning at the intersection of Silicon Valley venture capital and Pentagon priorities puts them in an ideal spot to continue backing the next generation of dual-use innovators.
