David Bogoslaw

The fund plans to invest in 15-20 pre-seed through Series A companies, about 80% of which will be venture-backed.

Eleven of the firm's more than 80 portfolio companies have exited with valuations between $250m and $2.25bn, including HistoSonics last month.

Limited partners in Boost's prior funds include Passport Foundation, a nonprofit foundation based in Wilmington, Delaware.

Jacquie Marshall Siegmund isn't shy about calling a company she's a customer of and asking how they're financed. She helped pre-empt a deal at one before Origin invested in it.

The fund is anchored by the Fonds de solidarité FTQ, while its other LPs include Capital régional et coopératif Desjardins, Fonds québécois d'amorçage Teralys and TD Innovation Partners.

The fund's LPs include the Dutch entrepreneurial development bank FMO, Ford Foundation, MetLife and Mastercard.

LPs in Atlas's earlier funds include New York State Teamsters Conference Pension and Retirement Fund, Penn Mutual Life Insurance Company and Rutgers University.

From cheaper back-up satellites and new manufacturing systems to vehicles that allow for development of drugs and other materials in microgravity environments, defense tech companies are attracting more attention from VCs.

The ongoing shift from big, expensive military assets like battleships and fighter jets to smaller, more agile and less costly ones positions Anduril and other venture-backed companies to win more government and commercial contracts and draw more capital from investors.

Mismatched valuation expectations are impeding defense tech acquisitions.