JPMorgan deploys $5 billion into defense startups in first year

JPMorgan Chase has invested $5 billion in startups during the first year of its U.S. security and resiliency initiative, halfway to its $10 billion goal. The bank took stakes in Hadrian, which builds automated factories, and Castelion, developer of the low-cost Blackbeard hypersonic missile, and facilitated over $230 billion in transactions.

• $5 billion invested in year one against a $10 billion decade-long target
• Stakes taken in Hadrian and Castelion, maker of the Blackbeard missile
• More than $230 billion in transactions financed and facilitated
• Program aims to support $1.5 trillion in activity over ten years