00:00It's just three of you with an awful lot of capital to deploy. Where do you put it. Where's the
00:03real focus for you. Well first of all thank you so much for having us. There is no place that
00:07we we rather announce overmatch venture second fund than with the two of you here live from Hill and Valley.
00:14So 250 million dollars we're investing across three key domains deep tech defense and space. We're calling it America's sovereign
00:22stack. So super excited to be able to focus principally on the technologies that are
00:29creating our competitive edge. I think what's really interesting is and I mean this with respect. What is it that
00:37you're going to be able to do overmatch that you couldn't do anywhere else or as a solo GP which
00:43has been an interesting theme that I've been writing about a little bit over the last two years. I think
00:49there are a variety of things. I had an absolutely wonderful experience at Venrock. I think one of the things
00:55that's really unique about the three of us coming together.
00:57So my two other co-founders and co-general partners are Evan Loomis who is a longtime founder found a
01:04company called icon and Jordan Blashek who's also a marine combat veteran and multi-time founder. I think the three
01:12of us coming together. We see this as America's decisive decade.
01:16I think there's true value alignment not just in the general partnership but also in the LP base. So we
01:21have raised that 250 million dollars all from American investors.
01:26And it's not just the fund itself. Our LPs are actually following alongside us in a lot of these direct
01:32investments. So last week alone in 72 hours we raised a little over 100 million dollars for two of our
01:40fund one companies to be able to help kind of follow along the kind of critical trends.
01:45And so it's both the GP alignment but also the LP alignment.
01:49And being able to be the beginner than the sum of your parts. What you bring that's so distinct is
01:54not only your expertise when it comes to deploying money but also you're a combat veteran.
02:00How do you feel this current moment, the conflicts and there are conflicts that we've seen over the course of
02:06this year alone.
02:06What is it telling you that needs to be improved and needs to be invested in when it comes to
02:10the intertwining of Silicon Valley or VC and tech and the Pentagon?
02:13So one of the things that's really unique and if we had had this conversation a month ago we may
02:18have had a very different dialogue and I think we might have talked about this a little bit in October.
02:23It's just where valuations were. I probably would have said we're in the seventh inning. But when we look at
02:28capability and capability deployment in this particular conflict we're probably in the second inning.
02:34I mean you're seeing some early signals of what it means to put a treatable mass in the hands of
02:39warfighters.
02:40We saw the deal last week announced from Skydio which was the army doing a $52 million deal in 72
02:48hours which is sort of unprecedented for them.
02:50But we need to see a lot more of it. And so because we're in that really early stage from
02:55a capability standpoint I think there's just so much room to run for this domain.
03:00Okay.
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