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New North Ventures is a venture capital firm founded in 2021 by Brett Davis and Jeremy Hitchcock, both of whom have extensive backgrounds in government and entrepreneurship. The firm is headquartered in Portsmouth, New Hampshire, and focuses on the intersection of national security and economic resilience. New North Ventures aims to support founders and companies that develop innovative solutions aligned with democratic values.
The firm has raised $45 million in its first close of Fund II, with a target of $80 million to $100 million. New North Ventures primarily invests in early-stage companies, providing funding in the range of $1 million to $3 million. The firm has a portfolio of seven companies and actively participates in the Small Business Investment Company Critical Technologies (SBICCT) program, which enhances its credibility and access to government contracts.
New North Ventures invests in dual-use technologies that serve both national security and commercial markets. The firm targets sectors such as artificial intelligence, deep tech, and solutions that enhance the capabilities of the U.S. military. Their investment strategy encompasses a range of stages, including pre-seed, seed, seed-plus, Series A, Series B, Series C, and growth equity.
New North Ventures typically provides funding between $1 million and $3 million per investment, aiming for an equity target of 10% to 15%. The firm leverages its extensive networks within defense, intelligence, and special operations communities to support its portfolio companies, facilitating connections that can lead to strategic partnerships and government contracts. This focus on dual-use technologies allows New North Ventures to offer valuable insights and guidance to help companies navigate the complexities of both commercial and government markets.
New North Ventures has a diverse portfolio of seven companies, each contributing to the firm's focus on dual-use technologies:
Brett Davis: Co-founder of New North Ventures, Brett has a background as a former government intelligence community officer. His experience in the defense sector informs the firm's investment strategy and focus on national security.
Jeremy Hitchcock: Co-founder and serial entrepreneur, Jeremy previously founded Dyn, which was acquired by Oracle. His entrepreneurial expertise and understanding of technology markets contribute to the firm's approach to identifying and supporting innovative startups.
To pitch New North Ventures, founders should use the online application form available at Pitch Us. The pitch deck should include a clear overview of the business model, market analysis, and the technology's relevance to national security or economic resilience. Founders can expect a response within a few weeks, and warm introductions are preferred but not required.
New North Ventures hosts the 2026 Boston Innovation Summit, scheduled for February 5, 2026. This event aims to connect innovators in the national security sector and discuss advancements in dual-use technologies. Further details about the event and how to apply for participation have not been specified.
As of March 2026, New North Ventures is actively deploying Fund II, which has a first close of $45 million through the DoD's SBICCT program. The firm targets a total fund size of $80 million to $100 million, focusing on AI/ML decision-making, cybersecurity, and combating misinformation. They are currently engaged in active deal flow in defense tech and dual-use technologies.
New North Ventures is also organizing the 2026 Boston Innovation Summit, scheduled for February 5, 2026, which aims to bring together innovators and stakeholders in the national security space.
What are New North Ventures' investment criteria?
New North Ventures focuses on investing in dual-use technologies that enhance national security and economic resilience. They seek early-stage companies that align with democratic values and operate in sectors such as artificial intelligence, deep tech, and defense.
How can founders apply or pitch to New North Ventures?
Founders can pitch New North Ventures through their website at Pitch Us. They recommend including a clear business model, market analysis, and how the technology addresses national security or economic resilience.
What makes New North Ventures different from other venture capital firms?
New North Ventures distinguishes itself by focusing on dual-use technologies that serve both national security and commercial markets. Their extensive networks within defense and intelligence sectors provide unique opportunities for portfolio companies.
What is the geographic scope of New North Ventures' investments?
The firm primarily invests in companies based in the United States, but they also consider opportunities in allied countries that align with their investment thesis.
What is the typical check size for investments?
New North Ventures typically invests between $1 million and $3 million in each portfolio company, depending on the stage and needs of the business.
What kind of post-investment involvement can founders expect?
New North Ventures provides its portfolio companies with access to extensive networks within the defense and intelligence sectors, facilitating connections that can lead to strategic partnerships and government contracts. They also offer insights and guidance to help navigate the complexities of both commercial and government markets.
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