New North Ventures

?? New North Ventures Welcomes Military Intelligence Officer Drake Cantu to the Team! ?? We're thrilled to introduce Drake as our newest DoD-SkillBridge Fellow! With a distinguished background as a 2017 graduate of the United States Military Academy at West Point (double-majoring in Economics and French) and his service as a Captain and Military Intelligence Officer in the U.S. Army, Drake brings exceptional strategic insight to our Defense, Security, and Resilience investing thesis. Throughout his military career, Drake has led teams across national, strategic, and tactical levels, driving critical operations and providing valuable intelligence insights to senior U.S. government officials on national security matters. His experience with high-impact decision-making and ensuring the success of complex missions will be invaluable to our team. At New North Ventures, Drake will leverage his strategic leadership and intelligence expertise to help us identify and nurture groundbreaking innovations in dual-use technologies. After his time with us, he'll be pursuing an MBA as he transitions from active duty—ready to make an even bigger impact in the world of business and technology. We're excited to have Drake on board as we continue our mission to invest in the future of national interest innovation. Join us in welcoming him to the team! ??

?? Our latest "Securing Our Future" newsletter is out today! ?? This week we dive a little deeper into how venture capital thrives on relationships—not just as social currency, but as a quantifiable advantage. ?? PitchBook's data confirms what we've long observed: well-connected investors see significantly higher returns and lower failure rates. Also featured: ? ??? HawkEye 360 360's RF technology supporting Pacific fisheries protection ? ?? Reality Defender Defender's win at the US-Japan Global Innovation Challenge ? ?? Ukraine's groundbreaking all-robot military operation Plus, don't miss our podcast ??? featuring Jeremy Hitchcock in conversation with Paul Thompson from Morgan 6, discussing the critical intersection of commercial innovation and national security. Read the full newsletter here: https://lnkd.in/eZyKZ7b7 ?? What technologies are you watching at this intersection? Let me know in the comments. ?? #DualUseTech #VentureCapital #Innovation #DeepTech #NationalSecurity

??Why NNV Team Spotlight: Don Dodge - General Partner at New North Ventures This week, we're highlighting Don Dodge, a key member of our leadership team at New North Ventures. With a career spanning major tech players like Google, Microsoft and Napster, Don brings unparalleled experience in both technology and venture capital to our firm. From his time at Google, where he played a pivotal role in Developer Relations and advised Google Ventures and Google Capital, Don honed his expertise in tech innovation and strategic investments. He’s been instrumental in conducting due diligence and forming strategic engagements with some of the most exciting companies in the tech space. After his tenure at Google, Don co-founded AlphaChain and Cyfrin, pioneering companies in the Blockchain and Cybersecurity sectors. His deep industry knowledge, paired with his entrepreneurial spirit, has led him to invest in over 60 technology firms, with board positions in high-impact companies like Lucid and Aras—both valued at over a billion dollars. Don’s approach to venture capital aligns perfectly with NNV’s mission of driving dual-use innovation—technologies that serve both commercial markets and national interest needs. His insights into technology commercialization and his hands-on experience in navigating the intersection of business and security are invaluable to our thesis. What stands out most about Don is his approachability and willingness to engage with founders and investors alike. His technical expertise, combined with his UX/UI-friendly approach to personal interaction, makes him a unique and invaluable asset to our team. At New North Ventures, we’re proud to have leaders like Don who help us bridge the gap between cutting-edge commercial innovations and vital national security solutions. Together, we’re securing our future through dual-use innovation. #WhyNNV #TechVeteran #DualUseInnovation #NationalSecurity #CommercialInnovation #VentureCapital #Founders #Leadership #TechInnovation #Entrepreneurship #NNV

??? Friday Reflection: The Power of Networks in Dual-Use Innovation This week at New North Ventures we've been exploring how robust networks accelerate the convergence of commercial innovation and national security applications. As we often see across our portfolio, the connections between visionary founders, security experts, and commercial markets create unique value multipliers. ?? Three highlights from our week: 1. Our Partner Rob shared an insightful framework for implementing AI in private equity contexts—demonstrating how technologies initially developed for complex security environments can transform commercial investment strategies. 2. In our weekly team spotlight, we celebrated GP Stephanie Usry Bellistri exceptional work bridging defense procurement channels with commercial scaling opportunities—her expertise exemplifies the cross-domain knowledge that defines our approach. 3. We fundamentally believe in the power of networks to provide critical capital access for startups, helping promising ventures thrive where others might falter - quality connections often determine which innovations reach their full potential. ?? At NNV, we believe the strongest innovations emerge where networks intersect. By cultivating relationships across commercial and security ecosystems, we're not just funding technologies—we're creating the connective tissue that helps founders navigate dual markets successfully. What networks have you found most valuable in developing dual-use technologies? We'd love to hear your experiences. Jeremy Hitchcock Don Dodge #DualUseInnovation #VentureCapital #NationalSecurity #NetworkEffects #TechInnovation

The Relational Currency of Early-Stage Investing In our "What We're Reading" this week, Mark Suster's "Invest in Lines, Not Dots" alongside PitchBook's latest Quantitative Perspectives report offer compelling evidence: relationships aren't just part of venture capital—they are the game. The Data Behind the Intuition PitchBook's research shows companies backed by well-connected lead investors (90th percentile of network influence) experience failure rates 10 percentage points lower than those backed by peripheral investors. For Series D investments and beyond, well-connected investors see a mere 4% failure rate compared to 15% for those on the periphery. These network effects translate to returns—25.6% average annualized returns versus just 3.1% for companies backed by less-connected investors. Why Networks Matter When founders secure investment from well-connected VCs, they gain access to an ecosystem of customers, strategic partners, follow-on investors, and talent. The right connection at the right moment can determine success or failure. For VCs, better connections lead to stronger deal flow, which improves pattern recognition and investment decisions, creating a virtuous cycle. The Art of Building Lines As Suster puts it, "The first time I meet you, you are a single data point. A dot. I have no reference point from which to judge whether you were higher on the y-axis 3 months ago or lower." For founders: Begin building investor relationships before you need capital. Regular touchpoints create a "line" that builds investor confidence. For investors: The strongest investment theses develop through observation over time, not isolated dots. Beyond the Transaction The investor-founder relationship resembles a marathon rather than a sprint—requiring endurance, strategy, and a shared vision. This relational foundation becomes especially crucial in deep tech and dual-use technologies, where development cycles are longer and markets often need to be created rather than entered. Building for the Long Game PitchBook's data—showing $123.8 billion concentrated in San Francisco and New York in 2024—reinforces that the agglomeration of talent in innovation hubs remains powerful. Perhaps the most valuable investment strategy isn't finding the perfect dot, but patiently drawing lines and building relationships that support innovation for decades. What relationship-building practices have you found most valuable in your innovation ecosystem? Jeremy Hitchcock Stephanie Usry Bellistri Don Dodge

Great opportunity here!

?? This Week in Dual-Use Tech: Maritime Autonomy Breakthroughs & AI Investment Insights Excited to share that our latest "Securing Our Future" newsletter is hot off the press! ?? This week, we dive into HavocAI's impressive maritime autonomy deployments with the Navy and Army - a perfect example of how innovative dual-use is scaling in real-world applications. We also highlight Partner Rob May's insightful three-tier AI transformation framework that, while developed for the PE context, can align beautifully with a dual-use tech investment thesis. His approach to evaluating AI opportunities through "venture upside, PE downside" offers valuable perspective for identifying promising technologies in the defense sector. ?? Curious about how AI is helping decode China's grand strategy? We cover that too thanks to our friends at Irregular Warfare Initiative. Check out the full newsletter to see where we're placing our bets in the defense tech ecosystem and which dual-use innovations are catching our attention. Jeremy Hitchcock Stephanie Usry Bellistri Don Dodge #DualUseTech #DefenseTech #VentureCapital #AI #AutonomousSystems #NationalSecurity #Innovation

?? Why NNV: Meet Stephanie Usry Bellistri - Where National Security Expertise Meets Venture Vision In our ongoing series showcasing the exceptional talent behind New North Ventures, we're thrilled to spotlight Stephanie, a General Partner whose unique background bridges the worlds of intelligence, technology, and venture capital. ???? From CIA Operations to Startup Acceleration ?? With 22 years of Central Intelligence Agency experience, Stephanie brings unparalleled national security insights to our portfolio companies. Her intelligence career spans: - Senior leadership across multiple missions - Management of multi-million dollar global operations - Extensive international fieldwork supporting counterterrorism, counterproliferation, counterintelligence, and military operations But Stephanie's expertise doesn't stop at government service. Post-CIA, she's applied her strategic thinking at innovative tech companies including Palantir, Evolv and Saildrone— holding executive positions and providing critical guidance on crisis management, corporate security, organizational resilience, and GTM strategies. ?? The NNV Difference: What makes Stephanie invaluable to founders? Her rare combination of pragmatism and vision allows her to: - Identify genuine national security gaps that startups can address - Navigate complex government landscapes with insider knowledge - Apply lessons from early-stage company building to accelerate growth - Connect founders with her extensive network across intelligence and tech communities In Stephanie's personal approach, you'll find a leader who is thoughtful yet decisive, approachable yet challenging in all the right ways. Her ability to translate between government requirements and startup capabilities creates opportunities that others might miss. This is why we're proud to have Stephanie as part of our leadership team—and why founders supporting national security missions seek her counsel. Stay tuned for more profiles in our "Why NNV" series, where we showcase the talented individuals helping bridge the gap between national security and innovation. Jeremy Hitchcock Don Dodge Jessica Nelson #WhyNNV #VentureCapital #NationalSecurity #TechInnovation #LeadershipSpotlight

HavocAI Delivers Maritime Autonomy at Scale ?? ?? ?? ?? We're thrilled to share the remarkable progress of HavocAI, which continues to demonstrate extraordinary execution in the autonomous maritime space. The team recently announced several major milestones: - 15 Rampage USVs deployed with a Navy customer ?? ?? - 5 Rampage USVs headed to the Pacific for Army operations ?? ?? - 10 Rampage USVs in production for a West Coast DoD customer ?? ?? The HavocAI difference? Their dual-approach to autonomy stands unrivaled in the industry. ?? ?? While their battle-tested algorithms have proven themselves in demanding real-world operations, they've also pioneered an innovative open architecture framework. This allows defense partners to seamlessly incorporate their own proprietary autonomy solutions—creating a flexible ecosystem that adapts to mission-specific requirements without sacrificing performance or security. ?? ??? ??? This approach ensures both performance and interoperability—a critical advantage in today's complex defense landscape. Congratulations to the entire HavocAI team on these achievements! ?? ?? We're proud to support your mission of delivering combat-ready autonomy at scale that's deployed, proven, and interoperable. ? ?? Jeremy Hitchcock Stephanie Usry Bellistri Don Dodge #PortfolioSuccess #AutonomousSystems #MaritimeTech #DefenseTech #VentureCapital

Friday Reflections: Going the Distance This Sunday, I'm lacing up for my first half marathon - 13.1 miles of questioning my life choices while simultaneously proving I can do hard things! ??♀??? As I prepare to push my physical limits this weekend, I can't help but reflect on how our team at NNV has been going the distance in other ways: ? Our LinkedIn engagement skyrocketed this week with a 256% increase in impressions and an impressive 583% jump in comments ? We're experimenting with AI integration in our newsletter development, finding that sweet spot between innovation and authentic connection ? Our podcast continues to grow, with new highlight teasers bringing our conversations to wider audiences Just like marathon training, building meaningful connections takes consistent effort, strategic pacing, and occasionally wondering if you've lost your mind along the way! ?? The numbers tell the story - we're steadily building toward our goals, one post, one podcast, and one partnership at a time. Wish me luck this weekend - both my legs and my determination will be tested! What challenges are you tackling that require going the distance? Jeremy Hitchcock Stephanie Usry Bellistri Don Dodge #FridayReflections #FirstHalfMarathon #DigitalEngagement #ContentStrategy #WishMeLuck