In-Q-Tel (IQT), the strategic venture investment unit of the US intelligence services, has opened its first international offices and hired Peter Tague from financial services firm Citi as executive vice-president.
Tague will lead the international investments teams, which will be based in London, UK, and Sydney, Australia. He was previously vice-chairman and co-head of global mergers and acquisitions at Citi.
IQT said in a statement: “Our core strength is our ability to identify and deliver insights and access to new commercial technologies on behalf of our government partners in the intelligence and national security communities. Innovation knows no boundaries, and a physical presence is a continuation of our efforts to obtain a better understanding of technology and market developments outside the US.
“These offices will take advantage of the world class science and technology, and venture capital ecosystems available within each region to continue IQT’s national security mission for the US and its allies. These offices will support a partnership between the US, UK, and Australian intelligence and national security communities.”
Tague follows a number of former investment bankers into the strategic venture industry in recent years, including Chris Bartlett, head of Verizon Ventures; Wendell Brooks, head of Intel Capital; and Vicente Vincent, head of Deutsche Telekom Capital Partners.
Separately, Andre Lanata has joined as head of the North Atlantic Treaty Organization (NATO’s) Allied Command Transformation unit to find startups to help the alliance pick up the pace of innovation.
This month, 10 startups and small companies gave the command the third of a series pitches of pitches. The latest in the series was looking for ways to defeat large clusters of airborne and land-based drones in a challenge won by Belgium-based ALX Systems.
Other western government agencies, such as the UK’s GCHQ intelligence agency, have set up cybersecurity accelerators, while VC firms including C5 Capital and GovTech have raised funds targeting government and security.
