Venture capital firm
In-Q-Tel portfolio
iqt.orgIn-Q-Tel is a venture capital firm based in Tysons, United States, founded in 1999. It has invested in 97 venture-backed companies across 112 funding rounds on VCMC, and led 2 of those rounds. 24 of them were in the last 12 months.
97
Venture-backed companies
in its portfolio on VCMC
112
Funding rounds
led 2
24
Last 12 months
rounds, Oct 2025 to Sep 2026
17
With a disclosed valuation
of 97 companies
$104.7B
Combined value of its private companies
the whole companies, not what In-Q-Tel owns
94 private companies In-Q-Tel has backed have a VCMC valuation; together they are worth $104.7B. That is the value of the whole companies, not what In-Q-Tel owns. Colossal is 14% of the total. 3 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
In-Q-Tel's most valuable portfolio companies
The 10 most valuable private companies In-Q-Tel has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Colossal Biotechnology, Austin $14.4B range $8.6B – $16.6B Joined at Series B, 2023
- 2 Lambda Tech Companies, San Jose $12.4B range $6.8B – $17.9B Joined at Series D, 2025
- 3 Stoke Space Aerospace and Defence, Kent $10.3B range $8.7B – $15.0B Joined at Series B, 2023
- 4 SandboxAQ Software Development Services, Palo Alto $8.7B range $4.4B – $12.4B Joined at Growth, 2024
- 5 Lambda Hosting & Cloud Infrastructure Providers, San Jose $5.2B range $3.1B – $6.0B Joined at Series D, 2025
- 6 Vast Aerospace and Defence, Long Beach $4.1B range $1.9B – $7.8B Joined at Series A, 2026
- 7 Sila Nanotechnologies Batteries, Alameda $3.7B range $2.6B – $5.7B Joined at Series D, 2018
- 8 Snorkel AI Software Development Services, Redwood City $3.6B range $3.0B – $5.3B Joined at Series B, 2021
- 9 Tech Companies, Tokyo $3.5B range $2.3B – $4.1B Joined at Growth, 2025
- 10 Medical Supply Manufacturers, New York $3.2B range $1.7B – $4.5B Joined at Series D, 2025
Portfolio
Full In-Q-Tel portfolio (97 companies)
97 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lambda Tech Companies · since Series D, 2025 | Debt Aug 2026 $926M | $12.4B | $6.8B – $17.9B | $12.6B (+2%) | $1.4B | 0% | – | unknown | B | |
| 2 | Sila Nanotechnologies Batteries · since Series D, 2018 | Debt Aug 2026 $1.40B | $3.7B | $2.6B – $5.7B | $4.0B (+8%) | $363M | 0% | 440 | flat | B | |
| 3 | Stoke Space Aerospace and Defence · since Series B, 2023 | Series E Sep 2026 $1.00B | $10.3B | $8.7B – $15.0B | $13.1B (+26%) | $1.4B | 0% | 441 | growing | A | |
| 4 | Lambda Hosting & Cloud Infrastructure Providers · since Series D, 2025 | Series D Aug 2025 $480M | $5.2B | $3.1B – $6.0B | $5.2B (0%) | $572M | 0% | 420 | unknown | B | |
| 5 | SandboxAQ Software Development Services · since Growth, 2024 | Grant Jun 2026 $500M | $8.7B | $4.4B – $12.4B | $8.7B (0%) | $958M | 0% | 375 | up | B | |
| 6 | Snorkel AI Software Development Services · since Series B, 2021 | Series E Sep 2026 $350M | $3.6B | $3.0B – $5.3B | $4.6B (+28%) | $505M | 0% | 1,484 | growing | A | |
| 7 | Lila Sciences Tech Companies · since Series A, 2026 | Series A Jun 2026 $350M | $2.7B | $1.5B – $5.4B | $3.8B (+43%) | $534M | 0% | 535 | unknown | C | |
| 8 | Vast Aerospace and Defence · since Series A, 2026 | Series A Mar 2026 $500M | $4.1B | $1.9B – $7.8B | $5.1B (+25%) | $717M | 0% | 1,174 | up | C | |
| 9 | Hermeus Aircraft Parts & Services · since Series B, 2022 | Series C Apr 2026 $350M | $1.2B | $869M – $1.5B | $1.3B (+14%) | $148M | 0% | 384 | growing | A | |
| 10 | Colossal Biotechnology · since Series B, 2023 | Series C Jan 2025 $200M | $14.4B | $8.6B – $16.6B | $14.4B (0%) | $1.6B | 0% | 266 | up | B | |
| 11 | SPREAD Tech Companies · since Series B, 2026 | Series B Apr 2026 $30M | $195M | $137M – $278M | $177M (-9%) | $34.9M | 97% | 91 | down | B | |
| 12 | ClearSpace Aerospace and Defence · since Series A, 2023 | Series A Jan 2023 $29M | $231M | $16.1M – $411M | $231M (0%) | $41.3M | 0% | 95 | unknown | D | |
| 13 | Kurs Orbital Aerospace and Defence · since Seed, 2024 | Seed Mar 2024 $4.0M | $56.8M | $7.52M – $90.1M | $45.3M (-20%) | $12.0M | 5% | 30 | flat | D | |
| 14 | Tech Companies · since Growth, 2021 | Acquisition Sep 2025 $1.00B | $1.6B acquired 2025 | $891M – $2.3B | – | – | 30% | 365 | growing | B | |
| 15 | Tech Companies · since Series B, 2018 | Series D Jun 2023 $69M | $330M | $119M – $1.6B | $216M (-35%) | $118M | 97% | 114 | down | D | |
| 16 | Tech Companies · since Growth, 2024 | Series B Jul 2026 $100M | $759M | $464M – $1.4B | $988M (+30%) | $109M | 0% | 176 | growing | B | |
| 17 | Tech Companies · since Series B, 2016 | Series D Nov 2019 $50M | $545M | $36.5M – $905M | $521M (-4%) | $86.8M | 0% | 85 | flat | D | |
| 18 | Tech Companies · since Series A, 2015 | Series C Oct 2021 $60M | $73.5M | $32.6M – $313M | $65.6M (-11%) | $78.0M | 97% | 46 | shrinking | D | |
| 19 | Tech Companies · since Series B, 2020 | Series C Apr 2022 $55M | $637M | $79.7M – $968M | $626M (-2%) | $77.4M | 0% | 818 | up | D | |
| 20 | Tech Companies · since Series A, 2018 | Series B Nov 2021 $60M | $318M | $30.6M – $872M | $316M (-1%) | $85.3M | 26% | 89 | up | D | |
| 21 | Tech Companies · since Seed, 2024 | Series B Feb 2026 $25M | $225M | $121M – $367M | $258M (+15%) | $28.4M | 0% | 98 | growing | B | |
| 22 | Tech Companies · since Series B, 2025 | Series B May 2025 $35M | $403M | $188M – $613M | $403M (0%) | $44.3M | 0% | 93 | growing | B | |
| 23 | Tech Companies · since Series B, 2024 | Series B Nov 2024 $15M | $139M | $39.7M – $230M | $129M (-7%) | $17.4M | 21% | 27 | down | C | |
| 24 | Tech Companies · since Series A, 2025 | Series A Feb 2025 $15M | $196M | $85.8M – $278M | $196M (0%) | $27.5M | 0% | 49 | growing | B | |
| 25 | Tech Companies · since Seed, 2025 | Series A May 2026 $15M | $87.2M | $49.0M – $178M | $125M (+43%) | $19.1M | 0% | 28 | growing | C | |
| 26 | Electronical Components Manufacturing · since Series A, 2023 | Series A Oct 2023 $17M | $182M | $61.0M – $310M | $182M (0%) | $28.5M | 0% | 75 | growing | C | |
| 27 | Electronical Components Manufacturing · since Series C, 2017 | Series C Aug 2017 $15M | $136M | $6.86M – $270M | $136M (0%) | $19.5M | 0% | 9 | unknown | D | |
| 28 | Tech Companies · since Series A, 2025 | Series A Sep 2025 $7.0M | $72.8M | $28.2M – $103M | $72.8M (0%) | $10.2M | 0% | 17 | up | C | |
| 29 | Tech Companies · since Seed, 2021 | Seed Oct 2021 $9.3M | $46.9M | $11.7M – $157M | $49.4M (+5%) | $24.8M | 39% | 101 | growing | D | |
| 30 | Tech Companies · led at Series A, 2021 | Series A Apr 2021 $7.6M | $60.0M | $4.01M – $113M | $58.3M (-3%) | $11.2M | 3% | 28 | up | D | |
| 31 | Tech Companies · since Series A, 2007 | Series A May 2007 $6.3M | $34.8M | $2.29M – $53.3M | $34.8M (0%) | $8.82M | 0% | 63 | flat | D | |
| 32 | Cables & Wires · since Seed, 2022 | Seed Oct 2022 $5.0M | $13.3M | $2.96M – $62.2M | $11.5M (-14%) | $10.0M | 75% | 19 | down | D | |
| 33 | Tech Companies · since Pre-seed, 2024 | Pre-Seed Jan 2024 $3.7M | $62.4M | $18.6M – $95.0M | $54.7M (-12%) | $11.2M | 0% | 34 | growing | C | |
| 34 | Tech Companies · since Seed, 2025 | Seed Aug 2025 | $27.8M | $9.81M – $59.1M | $21.5M (-23%) | $7.78M | 59% | 12 | flat | C | |
| 35 | Tech Companies · since Growth, 2025 | Growth Equity Nov 2025 $135M | $3.5B | $2.3B – $4.1B | $3.6B (+2%) | $372M | 0% | 266 | growing | A | |
| 36 | Electronical Components Manufacturing · since Series C, 2022 | Series D Dec 2023 $231M | $2.5B | $520M – $4.2B | $1.6B (-34%) | $356M | 22% | 331 | flat | D | |
| 37 | Medical Supply Manufacturers · since Series D, 2025 | Series D Nov 2025 $200M | $3.2B | $1.7B – $4.5B | $3.2B (+1%) | $352M | 0% | 131 | flat | B | |
| 38 | Tech Companies · since Series C, 2026 | Series C Apr 2026 $40M | $473M | $134M – $1.0B | $503M (+6%) | $27.2M | 0% | 392 | up | D | |
| 39 | Medical Supply Manufacturers · since Series A, 2024 | Series C Mar 2026 $230M | $1.8B | $1.3B – $2.3B | $2.0B (+11%) | $220M | 0% | 323 | up | A | |
| 40 | Tech Companies · since Growth, 2026 | Series A Aug 2026 $150M | $1.2B | $913M – $2.2B | $1.9B (+64%) | $266M | 0% | 57 | growing | B | |
| 41 | Software Development Services · since Series B, 2021 | Series C Jan 2026 $130M | $1.8B | $1.1B – $2.2B | $1.9B (+9%) | $211M | 0% | 384 | growing | B | |
| 42 | Biotechnology · since Series B, 2025 | Series B Jan 2025 $97M | $477M | $268M – $1.0B | $298M (-37%) | $105M | 97% | 40 | shrinking | C | |
| 43 | Electronical Components Manufacturing · led at Series B, 2026 | Series B May 2026 $178M | $856M | $506M – $1.5B | $1.1B (+26%) | $129M | 0% | 107 | growing | B | |
| 44 | Batteries · since Series B, 2023 | Grant Sep 2024 $125M | $160M | $68.4M – $709M | $101M (-37%) | $61.1M | 97% | 47 | down | D | |
| 45 | Aerospace and Defence · since Series A, 2019 | Series C Mar 2026 $110M | $1.0B | $584M – $1.8B | $1.2B (+12%) | $146M | 0% | 214 | up | B | |
| 46 | Aerospace and Defence · since Seed, 2024 | Series A May 2026 $100M | $858M | $479M – $1.7B | $1.2B (+42%) | $171M | 0% | 199 | growing | C | |
| 47 | Pharmaceutical Products · since Series C, 2025 | Debt Oct 2026 $80M | $113M | $53.9M – $172M | $113M (0%) | $12.4M | 0% | 72 | up | B | |
| 48 | Tech Companies · since Series B, 2020 | Acquisition May 2026 $475M | $1.1B acquired 2026 | $370M – $1.9B | – | – | 24% | 188 | flat | C | |
| 49 | Tech Companies · since Series B, 2021 | Series D Dec 2024 $96M | $660M | $276M – $760M | $660M (0%) | $83.5M | 0% | 146 | flat | B | |
| 50 | Aerospace and Defence · since Series B, 2026 | Series B Apr 2026 $82M | $672M | $400M – $1.2B | $851M (+27%) | $93.7M | 0% | 224 | growing | B |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How In-Q-Tel invests: stages, industries and countries
Most of its rounds are Series B (32%). Its companies span 21 industries, most in Tech Companies, Aerospace and Defence and Electronical Components Manufacturing, across 14 countries.
Rounds by stage
- Pre-seed 2
- Seed 16
- Series A 33
- Series B 36
- Series C and later 24
- Other venture 1
Investments by industry
- Tech Companies 45
- Aerospace and Defence 9
- Electronical Components Manufacturing 9
- Biotechnology 5
- Batteries 4
- Software Development Services 4
- Medical Supply Manufacturers 3
- Chemicals 2
Investments by country
- United States 64
- Australia 9
- United Kingdom 7
- Germany 5
- Japan 2
- Singapore 2
Recent rounds
In-Q-Tel's latest investments
In-Q-Tel's most recent funding rounds, newest first. 24 rounds in the last 12 months.
- Series A $65M 15 Oct 2026
- Series B $50M 13 Oct 2026
- Series A $47M 6 Oct 2026
- Series A $150M 25 Aug 2026
- Sila Nanotechnologies Growth $300M 21 Jul 2026
- Seed $100M 16 Jun 2026
- Lila Sciences Series A $350M 4 Jun 2026
- Series A $15M 27 May 2026
- Seed amount not disclosed 26 May 2026
- Series B $40M 5 May 2026
Co-investors
In-Q-Tel's top co-investors
The investors that most often join the same rounds as In-Q-Tel. Y Combinator leads, with 9 rounds together.
- Y Combinator 9 rounds together
- Sequoia Capital 8 rounds together
- Intel Capital 8 rounds together
- Lux Capital 7 rounds together
- 6 rounds together
- GV 6 rounds together
- Khosla Ventures 6 rounds together
- 5 rounds together
- ARCH Venture Partners 5 rounds together
- 5 rounds together
About
About In-Q-Tel
In-Q-Tel, Inc. is an American not-for-profit venture capital firm that invests in and develops commercial technologies for the U.S. national security community and international allies. The company operates as a global investment platform, supporting the transition of technologies from the private sector to government partners, with a focus on sectors such as biotechnology, microelectronics, energy, and space systems. In-Q-Tel also provides technology development and transfer services, and maintains a network of offices in the United States, United Kingdom, Australia, Singapore, and Germany.
Description from Veridion's company data.
- Founded
- 1999
- Based in
- Tysons, United States
- Team
- 271 people, -2% in a year
- Type
- Venture capital firm
Focus markets
- National Security
- Biotechnology
- Microelectronics
- Energy
- Space Systems
What In-Q-Tel offers
- Strategic Technology Investment Services
- Venture Capital Funding Services
- Technology Evaluation and Assessment Services
- Technology Transfer and Commercialization Services
- Startup Funding and Partnership Services
- Space Systems Technology Investment Services
- AI Technology Investment Services
- Biotechnology Investment Services
Questions
In-Q-Tel: frequently asked questions
How many companies has In-Q-Tel invested in?
97 venture-backed companies on VCMC, across 112 funding rounds.
What are In-Q-Tel's most valuable private companies?
Colossal ($14.4B), Lambda ($12.4B), Stoke Space ($10.3B), by VCMC's valuation.
What was In-Q-Tel's latest investment?
Mueon, a Series A round in Oct 2026 of $65M.
Which stages does In-Q-Tel invest in?
In-Q-Tel invests most often at Series B (36 rounds), followed by Series A (33) and Series C and later (24). It has also joined 16 seed, 2 pre-seed and 1 other venture rounds.
What is In-Q-Tel's portfolio worth?
Its private companies with a VCMC valuation are worth $104.7B together. That is the sum of the companies' values, not what In-Q-Tel owns.
Who does In-Q-Tel invest alongside?
Y Combinator (9 rounds), Sequoia Capital (8 rounds), Intel Capital (8 rounds).