Venture Capital: Boeing Hives Off Venture Arm Into JV With Private Equity Firm

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Specialist private equity firm AE Industrial Partners will manage and expand Boeing’s HorizonX venture capital arm.

Boeing (NYSE: BA) will spin off its HorizonX venture capital arm into a strategic partnership with private equity firm AE Industrial Partners, the aerospace major announced last week. Founded in 2017, HorizonX has invested in 40 tech companies and startups, and will function as AE’s ventures platform titled AEI HorizonX. AE will manage the fund, which will receive capital from Boeing, AE and others. (CISION PR Newswire)

The terms of the transaction were not disclosed but according to CNBC, which cited sources, the spun-off unit is valued at several hundred million dollars. Apart from contributing its venture arm, Boeing will transfer the team running the portfolio to AE. Brian Schettler, who headed this team, will lead AEI HorizonX.

Boeing’s Enterprise Technology Office and Applied Innovation Team will partner with AEI Horizonx, contribute Boeing’s technical expertise, and “bring innovations back to Boeing.” HorizonX’s mission hitherto has been to identify early stage companies with “transformative aerospace technologies.”

Horizon gets wings

“The partnership with AEI and future partners broadens our investor base, enables HorizonX to invest at a rapid pace and gives Boeing access to more outside innovation than ever through this investment collaboration,” Marc Allen, chief strategy officer and senior vice president of strategy and corporate development at Boeing, said in a statement.

AEI HorizonX’s beat

HorizonX’s existing portfolio will get new investments in the areas of mobility, space and connectivity, industrial tech, and enterprise digital solutions, with a broader emphasis on sustainability.

“Across these themes, investments that drive sustainability and reduce the carbon footprint of aerospace and adjacent industries will be a point of emphasis,” said the announcement.

Related Story:  UAL Floats United Airlines Ventures For Innovation In Travel And Sustainability

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