FARNBOROUGH, UK, July 20, 2022 /PRNewswire/ — Boeing [NYSE: BA] committed a $50 million investment in AEI HorizonX, a partnership the company has established with private equity firm AE Industrial Partners to invest in transformative aerospace technologies. The new funding will anchor AEI’s second venture capital fund HorizonX (Fund II), which plans to raise $250 million to support promising start-ups in the fields of mobility, space, sustainability, digital business applications, networks and future security.
“The future of aerospace is digital, sustainable and autonomous,” said Mark Allen, chief strategy officer of Boeing. “This new Fund II builds on the foundation we have with Fund I and positions us to significantly expand our strategic access to critical disruptive technologies to shape and realize that future.”
Since its inception in 2021, the AEI HorizonX Wallet has completed five IPOs (IPO) and exits. The venture capital group’s current portfolio includes 51 global investments, including companies that innovate in artificial intelligence and machine learning, develop solutions to reduce the climate impact of aerospace and optimize information on the data in factories, products and services. The diverse portfolio includes startups from across the United States, Europe, Asia and Australia.
In addition to providing capital, AEI HorizonX has helped its portfolio companies accelerate their progress by connecting them to Boeing’s vast capabilities and global market reach. AEI HorizonX is also partnering with Boeing on the company’s global accelerator – Aerospace Xelerated – a program that supports early-stage innovation in the aerospace industry.
“The power of the AEI HorizonX venture capital platform lies in the ability to bring together the capabilities of Boeing and the extended AE Industrial team to make quality investment decisions while delivering differentiated value to boost startups throughout their life cycle,” said Brian Schettler, Partner at AE Industrial and Head of AEI HorizonX. “As we did with Fund I, by expanding Fund II, we are able to admit other limited partners from around the world into our exclusive partnership with Boeing, bringing in increased capital to advance these new technologies. throughout their early development.”
Many AEI HorizonX portfolio companies have made significant progress in scaling innovative solutions in the industry. For instance:
- EP Systems, a battery systems manufacturer and energy services provider, is at the forefront of accelerating industry adoption of zero-carbon propulsion systems.
- Immfly, a leader in e-commerce, payments and inflight entertainment, improves the passenger experience while enabling airlines to realize greater savings and ancillary revenue.
- Shift5, an embedded systems cybersecurity company, provides increased safety and security for commercial aircraft and defense systems.
“The AEI HorizonX platform has provided Boeing with a key catalyst to partner with early-stage companies and accelerate the development and adoption of their technology,” said Greg Hyslop, chief engineer at Boeing. “It’s all about technology transitions – how we can partner with entrepreneurs to turn big ideas into solutions deployed in our products and services to better support our customers.”
As a global aerospace leader, Boeing develops, manufactures and services commercial aircraft, defense products and space systems for customers in more than 150 countries. As America’s leading exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future, leading with sustainability and cultivating a culture based on the company’s core values of safety, quality and integrity. Join our team and find your goal on boeing.com/careers. To learn more about Boeing’s sustainability efforts, see our Sustainability report.
About AEI HorizonX
AEI HorizonX was established as the corporate venture capital arm of Boeing in 2017 and is now managed by AE Industrial Partners, a private equity firm specializing in aerospace, defense and government services, the space, utilities and electrical and specialty industrial markets, with $5 billion of assets under management.
AEI HorizonX is an active venture capital participant in its core strategic areas, investing in more than 50 startups globally and establishing numerous relationships and partnerships in the aerospace, technology and manufacturing ecosystem. investment. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operational experience and relationships across all of its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more about www.aeroequity.com/.
Jennifer Hurson (AEI HorizonX)