security and resiliency initiative. The bank had initially said it would deploy $10 billion into startups over a decade; co-President Doug Petno told CNBC the program may exceed that target.
The disclosed portfolio includes Hadrian, which builds automated factories for aerospace and defense customers, and Castelion, developer of the Blackbeard hypersonic missile. JPMorgan helped lead Hadrian's $1.4 billion funding round in August and was involved in Castelion's $1 billion round that month, according to CNBC.
Separately, JPMorgan said it has financed and facilitated more than $230 billion of transactions under the initiative. Its broader target is $1.5 trillion in activity over ten years, spanning sectors including supply chains, defense, manufacturing, frontier technology, pharmaceuticals, and health technology.
The report does not disclose the full investment portfolio, individual check sizes, ownership stakes, valuation terms, or how much of the $5 billion went to Hadrian or Castelion.