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    In-Q-Tel logo

    In-Q-Tel

    Tysons, United StatesFounded 1999
    www.iqt.orgLinkedIn
    AICybersecurityBiotech & Life SciencesDefense & SpaceHardware & SemiconductorsInfrastructure & CloudEnterprise SoftwareData & Analytics

    In-Q-Tel (IQT) is an independent, not-for-profit strategic investment firm that accelerates the transition of groundbreaking technologies from the private sector to the U.S. national security community and its allies. Founded in 1999, IQT identifies, evaluates, and leverages emerging commercial technologies across areas such as AI, cybersecurity, biotechnology, space systems, and microelectronics.

    Average disclosed round size is $60.7M (across 207 rounds with reported amounts).

    Find people at In-Q-Tel on Goldilocks AI

    Portfolio

    171

    Fund Size

    —

    Top Stage

    Series A

    Last 12 Mo

    18

    Team

    DG

    Dan Gwak

    Chief investment officer

    BA

    Bruce Adams

    GENERAL COUNSEL

    JN

    Jennifer Nelson

    EVP, INTERNATIONAL

    JS

    Julianne Sobral

    chief of staff

    LF

    Liz Fox

    EVP, communications

    MS

    Matt Strottman

    Chief operating Officer

    MA

    Megan Anderson

    EVP, Technology

    SB

    Steve Bowsher

    CEO

    YZ

    Yan Zheng

    EVP, strategic Engagements

    JW

    Justin Wilder

    Partner

    TG

    Tom Gillespie

    Investment Team partner

    KO

    Kevin O'Connell

    Venture investor

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    253 investments
    CompanyRoundAmountDate
    Mariana Minerals logoMariana MineralsSeries B$310MAug 2026
    EEmesentSeed$10MJul 2026
    Observable Space logoObservable SpaceSeries A$11MMay 2026
    QuantWare logoQuantWareSeries B$178MMay 2026
    Cylake logoCylakeUnknown—Apr 2026
    Hermeus logoHermeusSeries C—Apr 2026
    Advanced Navigation logoAdvanced NavigationSeries C$102.7MMar 2026
    Science logoScienceSeries C$230MMar 2026
    VulnCheck logoVulnCheckSeries B—Feb 2026
    Inertia logoInertiaSeries A—Feb 2026
    Morpheus logoMorpheusSeries A$15MFeb 2026
    Deepgram logoDeepgramSeries C$130MJan 2026
    Armadin logoArmadinSeed$189.9MJan 2026
    Firestorm Labs logoFirestorm LabsSeries B$82MJan 2026
    RRevEng.AISeries A$15MJan 2026
    Vast logoVastSeries A$500MJan 2026
    Twenty logoTwentySeries B$38MJan 2026
    Oxide Computer logoOxide ComputerSeries C$200MJan 2026
    SStark DefenceSeries B$648MJan 2026
    Diraq logoDiraqSeries A$100MJan 2026
    Moment Energy logoMoment EnergySeries B$40MJan 2026
    Colossal logoColossalSeries B—Dec 2025
    RaySecur logoRaySecurUnknown—Nov 2025
    Lambda logoLambdaSeries E$1.5BNov 2025
    Sakana logoSakanaSeries B$135MNov 2025
    Page 1 of 11

    Top Co-Investors

    Intel Capital14 shared
    GV12 shared
    ARCH Venture Partners12 shared
    Khosla Ventures10 shared
    Y Combinator9 shared
    Cisco Investments9 shared
    Founders Fund8 shared
    Hercules Capital, Inc.8 shared
    Redpoint Ventures7 shared
    Bessemer Venture Partners7 shared
    Lux Capital7 shared
    Main Sequence7 shared
    Lockheed Martin Ventures7 shared
    Decibel7 shared
    Accel7 shared
    Polaris Partners7 shared
    New Enterprise Associates6 shared
    Vanedge Capital6 shared
    8VC6 shared
    Insight Partners6 shared

    Last updated: 7 October 2026