The Washington, D.C.-based firm plans to continue a multi-stage strategy focused on homeland security, which includes investing in infrastructure IT, antimicrobial solutions and alternative energy.
“Our goal, first and foremost, is to generate the highest possible returns for our limited partners,” says Mark Maloney, co-founder and managing partner. “We continue to do alternative energy and a whole bunch of things around critical infrastructure… We also have companies that provide technologies and software that allow financial institutions to protect themselves from cyber attack from the outside.”
Paladin has already invested $67 million of the new fund, which was marketed with a $300 million cover. Investments include Adapx; DigitalBridge Communications; Luminus Devices; Initiate; Quantalife; Renewable Energy Products; Royalty Pharma; and Unitrends.
The firm also has made a few personnel changes. Colin Bryan was promoted to principal, Lee Buchanan (former assistant secretary of the U.S. Navy for R&D and acquisition) has joined as a venture partner and Winston Hickox (former secretary of the California Environmental Protection Agency) has joined Paladin’s strategy advisory board. —Dan Primack