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Roughly 75 people gathered at Donald Trump’s Mar-a-Lago Club in Palm Beach, Fla. Wednesday evening to hear from Marlinspike Partners, a DC-based venture capital firm to learn about a new investment fund focused on defense, AI and related technologies that will power America’s next generation of military might.
IPO Edge joined the gathering, which included Marlinspike senior executives, potential investors along with notable dignitaries including the former U.S. Ambassador to Denmark. The event featured a presentation by CEO Neil Keegan along with free-flowing conversation over cocktails and hors d’oeuvres from the club’s kitchen. Set in the same circular room where Mr. Trump has recently interviewed cabinet contenders, guests had a clear view of the Atlantic Ocean over the club’s long rolling lawn.
Marlinspike, which focuses on companies that will “rearm and rebuild” the U.S., has a track record of picking winners. Early investments include SpaceX, Palantir Technologies Inc. and several other successes – some of which have led to profitable exits and others remain in the portfolio.
In his presentation, Mr. Keegan said he plans to continue identifying more companies whose products and services are needed to modernize the military. “The good news is that these new companies are popping up almost every day,” he said. “These are massively innovative companies and they’re coming out of really bright young men and women… we’re right in that flow and we’re often the first stop.”
Neil Keegan and Pete Clarke
Mr. Keegan himself served in the Navy before spending several years at Goldman Sachs Group, Inc. and his colleagues also boast impressive backgrounds in the defense world. Captain Chip Walter (USN, ret) is a managing director who previously was chosen to lead the Central Intelligence Agency’s innovation and technology sourcing strategy from the venture capital and startup community via In-Q-Tel, the strategic investment arm of the CIA.
Attendees were upbeat about the opportunity. “As a veteran I recognize the strategic importance of a more efficient military and it also creates incredible investment opportunities,” said Pete Clarke, Senior Director at Roberts & Ryan, America’s first service-disabled veteran-owned broker dealer.
Former U.S. Ambassador to Denmark Carla Sands (second from right)
There was plenty of buzz about Mr. Trump’s interest in purchasing Greenland, a self-governing Danish territory. Notably, the former U.S. Ambassador to Denmark, Carla Sands, was present with a Danish national. Madam Ambassador told IPO Edge that Donald Trump, Jr. had already returned from Greenland after a one-day trip and was back in Palm Beach.