Lockheed Martin (NYSE: LMT) announced it is increasing the capacity of its venture capital fund, Lockheed Martin Ventures, from $400 million to $1 billion. The increase represents a 250% expansion and marks the largest boost in investment since the fund was established in 2007.

The company stated it will use the increased capacity over future periods to mature critical technologies for national security and accelerate promising technologies from research and development to availability in the Defense Industrial Base.

"Our venture capital investments are a critical part of our overall strategy to develop and integrate the best technologies for national security now and in the future," said Evan Scott, CFO of Lockheed Martin. "Our investments help create a pipeline of cutting-edge technologies that create a resilient industrial base, drive growth, and ultimately help the United States and its allies deter the most pressing emerging threats."

Since its founding in 2007 with initial funding of $100 million, Lockheed Martin Ventures has invested more than $500 million in more than 120 companies. The fund has seen more than 60 companies mature to become suppliers to Lockheed Martin, receiving more than $750 million in contracts from the company. Over the past two years, 25 companies have been added to the portfolio.

The fund focuses on technologies including quantum computing, autonomy, artificial intelligence, directed energy, advanced materials, and microelectronics. Lockheed Martin describes its venture capital arm as one of the most active and longest continuously operated aerospace and defense corporate venture capital firms in the United States.

The fund will host its ninth annual Demo Day in August at Lockheed Martin's headquarters, showcasing portfolio companies and startups in the aerospace and defense sectors.