What Blackwing does

Blackwing Ventures is a San Diego-based defense and industrial venture capital firm founded in 2024 by Pete DiSalvo (Founding Partner) and Chad Cazel (Managing Partner). The firm invests from Pre-Seed through Series A in founders building in regulated, capital-intensive sectors — kinetic defense, advanced manufacturing, atmospheric water, genetic engineering, and nuclear energy — under a thesis of rebuilding American industrial strength and technological leadership. Its disclosed portfolio comprises five companies: Askari Defense (low-cost intelligent kinetic defenses), Atomic Industries (AI-driven manufacturing and toolmaking), Rainmaker (next-generation cloud seeding), The Embryo Corporation (genetic engineering), and Valar Atomics (small modular nuclear reactors that reached criticality in Utah in 2026).

Blackwing's go-to-market is relationship-driven rather than marketing-driven. The firm sources deals through Pete DiSalvo's co-founding role in the San Diego chapter of Post-Exit Founders and through its application-based 'Inner Wing' private investor community, which offers curated deal flow and exclusive founder dinners to accredited investors, family offices, and VC LPs. Distribution also includes a public Signals feed on the firm website showcasing portfolio milestones and a direct-to-consumer merchandise sub-brand, Blackwing Supply, selling branded teamwear (jackets, hats, hard hats) to founders, investors, and supporters.

Revenue mechanics derive primarily from Blackwing Fund I — management fees on committed capital and potential carried interest from portfolio exits — supplemented by marginal merchandise revenue. The firm does not disclose AUM, fund size, fee schedules, or LP composition. As a two-person partnership with no disclosed institutional LP base, Blackwing's revenue profile is in an early stage, with returns contingent on the maturation of a concentrated, high-risk deep-tech portfolio.

Name

Blackwing

Website

https://blackwing.vc

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Blackwing Ventures is a San Diego-based defense and industrial venture capital firm founded in 2024, investing Pre-Seed to Series A in founders building kinetic defense, advanced manufacturing, atmospheric water, genetic engineering, and nuclear energy technologies for American industrial renewal.

Ownership category

akta.pro rank

Product category

Defense & Industrial Venture Capital

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industries

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA), Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

• Venture capital
• Defense technology investing
• Industrial technology investing
• Early stage funding
• Pre-seed series A

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Venture Capital Returns: Blackwing generates returns through equity investments in portfolio companies from Pre-Seed to Series A. Revenue derives from carried interest and potential equity appreciation from exits of portfolio companies including Askari Defense, Atomic Industries, Rainmaker, The Embryo Corporation, and Valar Atomics.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Blackwing Ventures is a defense and industrial venture capital firm that invests from Pre-Seed to Series A in rule-breaking founders building America's next era of industrial strength and technological leadership. The firm manages Blackwing Fund I, deploys capital into early-stage defense and industrial companies, and operates the Blackwing Supply e-commerce sub-brand selling branded teamwear (jackets, hats, hard hats) to its founder, investor, and supporter community.

Product overview

Blackwing is a defense and industrial venture capital firm offering a single fund product (Blackwing Fund I) that invests from Pre-Seed to Series A in rule-breaking founders building America's industrial strength. The firm operates a merchandise sub-brand called Blackwing Supply, which sells team apparel (the BW-001 Replica Team Jacket, Team Hat, and Carbon Fiber Team Hard Hat) branded with the Blackwing logomark. The portfolio comprises five portfolio companies: Atomic Industries (AI-powered manufacturing and toolmaking), Askari Defense (intelligent kinetic defenses), Rainmaker (next-generation cloud seeding for water scarcity), The Embryo Corporation (genetic engineering), and Valar Atomics (small modular nuclear reactors).

Differentiator

Problem solved

Functional benefit

Products and services

• Blackwing Fund I Blackwing's primary venture capital fund investing from Pre-Seed to Series A in rule-breaking founders building America's next era of industrial strength and technological leadership, focused on defense and industrial sectors.
• BW-001 Replica Team Jacket A premium heavyweight replica of the jacket the Blackwing team wears, with an embroidered Blackwing wing on the chest, built to last. Sold via Blackwing Supply to founders, investors, and supporters. Priced at $165.
• Team Hat A structured black team hat with a woven Blackwing patch on the front and embroidered wordmark on the back. Sold via Blackwing Supply. Priced at $35.
• Carbon Fiber Team Hard Hat A carbon fiber hard hat featuring the Blackwing logomark on the front and a clean, minimal finish, sold through the Blackwing Supply shop. Priced at $100; currently sold out.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Post-Exit Founders (San Diego Chapter)coreGTM or Marketing PartnerPete DiSalvo co-founded the San Diego chapter of Post-Exit Founders, a global community of several thousand exited founders. This partnership provides Blackwing with deal flow sourcing, founder network access, and community credibility in the startup ecosystem.
• TechstarsminorGTM or Marketing PartnerChad Cazel mentors at Techstars, providing exposure to early-stage startups and reinforcing deal sourcing network.
• Founder InstituteminorGTM or Marketing PartnerChad Cazel mentors at Founder Institute, expanding founder network and deal flow sourcing capabilities.

Scale indicators3 records

Recent moves3 records

Expansion highlights5 records

Broad incumbents

• Andreessen Horowitz (a16z) — American Dynamism: a16z's American Dynamism thesis explicitly backs defense, manufacturing, energy, and industrial startups — directly overlapping Blackwing's defense and industrial focus, though a16z operates across a much broader portfolio and larger fund sizes.
• Founders Fund: Founders Fund has a long-standing defense and frontier-tech investment thesis (SpaceX, Anduril, Palantir), overlapping with Blackwing's defense and industrial mandate, though at materially larger fund sizes and broader scope.
• Lux Capital: Lux Capital invests in deep tech and frontier science (energy, advanced manufacturing, biotech), overlapping with Blackwing's hard-tech industrial focus, though Lux operates a larger, more generalist deep-tech mandate.
• General Catalyst: General Catalyst has a stated interest in defense, resilience, and industrial technology, overlapping with Blackwing's thesis, though GC operates a large multi-stage generalist platform rather than a focused vertical fund.
• Bessemer Venture Partners — Industry & Defense bets: Bessemer has historically backed industrial, aerospace, and defense-adjacent companies (e.g., Rocket Lab, Shield AI), overlapping with Blackwing's industrial/defense thesis, though Bessemer operates a much larger, more generalist platform.

Direct peers

• Shield Capital: Shield Capital is a defense-and-security-focused venture firm investing in early-stage companies serving national security customers — directly comparable to Blackwing's defense vertical specialist positioning.
• 8VC: 8VC builds companies and invests in defense, logistics, and industrial sectors with a thesis-driven, operator-led model — directly comparable to Blackwing's 'rule-breaker' defense and industrial focus and operator-founder team structure.
• Decisive Point: Decisive Point is a defense-focused venture firm investing in early-stage startups serving DoD and intelligence customers — closely comparable to Blackwing's defense vertical specialist positioning and Pre-Seed to Series A stage focus.

Emerging players

• MaC Venture Capital: MaC VC led Atomic Industries' $25M Series A, indicating overlap with Blackwing's defense and industrial thesis, though MaC operates a broader generalist fund with cross-stage exposure.

Others

• In-Q-Tel: In-Q-Tel is the U.S. intelligence community's strategic investor, deploying capital into defense and frontier-tech startups — thematically aligned with Blackwing's defense thesis, though structured as a strategic CVC rather than a traditional fund.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BlackwingVC
• LinkedInlinkedin.com/company/blackwingvc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Blackwing